Sophia Regency Study: Rental, shared housing more appealing to young S'poreans, though most still want to own homes
SINGAPORE - More young Singaporeans, compared with older age groups, are considering renting and flat sharing as they find current property prices too high. Even then, most still intend to buy a home within the next two years, a consumer sentiment study released by real estate portal PropertyGuru last week showed. While one in three respondents said they feel the pinch of rising rents, two in three of those aged 22 to 29 said they have chosen to rent instead of buy a home due to their lack of savings.
One-fifth of respondents in this age group felt that current property prices are too high, and about one-third expressed interest in home ownership alternatives like shared housing - such as renting a common room in an apartment or co-living spaces - due to lower rent and common facilities. The study did not release data on the sentiment towards shared housing for the other age brackets. The twice-yearly study, conducted between June and July this year, had 967 respondents. Privacy and freedom are the reasons often cited by young Singaporeans who enter the rental market, said OrangeTee & Tie senior vice-president of research and analytics Christine Sun.
Sophia Regency is an upcoming residential development situated along Sophia Road in the prime District 09 of Singapore. The development was sold en bloc for $29 million in a private deal translating to a land rate of around $1,200 psf ppr. The two developers for Sophia Regency are a Chinese investor, Zhang Zhiming, through a Singapore-based real estate firm East Asia Sophia Development, and a Singapore incorporated real estate company owned by Singaporean Huang Yanhong.
SOPHIA REGENCY BOOK AN APPOINTMENT
You can drop us an email or fill in the form below, submit and our Sales Person will contact you soon. Register with us Today to get the latest updates.
"The trend was more prevalent during the pandemic when more people were working from home. We have also observed more young couples renting because they are waiting for the completion of their new flats," she said.
Mr Asher Chua, 27, who rents a four-room Housing Board flat in a central location with two friends, said he chose to move out of his parents' home last year as he wanted to have his own space. "I do still feel the pinch of forking out for rent each month, but I'd say having the personal space is worth it and I don't regret it. "I want to be able to have friends over, but when you're staying with family, it can be a bit hard to do so," the sales executive said.
At Sophia Regency, residents will enjoy easy access to facilities within the building such as bbq pits, a swimming pool, and car parking. For shopping and day-to-day family needs, residents are within a stone’s throw distance from the nearby restaurants and shopping centres. Whether you’re a home buyer or investor, there’s a lot to benefit from owning a unit at Sophia Regency. With its strategic location, you get convenience at its best, plus capital appreciation over time.
Sophia Regency is an exclusive development within the enviable Core Central Region (CCR). It sits minutes away from Orchard Road Shopping District, the Singapore Management University, and the School of the Arts. Sophia Regency is an exclusive development in the prime District 09 Singapore and within the enviable Core Central Region (CCR).
SOPHIA REGENCY WITH INVITATION TO VVIP PREVIEW
If you really want to own FREEHOLD development at district 9, don't hesitate more time, please CALL US Now. Discover Location and Amenities to ge4t more infomation about this place
