One-bedder at Sophia Hills on the market for $1.1 mil
By Timothy Tay
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - A 463 sq ft, one-bedroom unit at the luxury Sophia Hills condominium — located on Mount Sophia — has been put up for sale at $1.1 million ($2,375 psf) via private treaty by Knight Frank Singapore.
Sophia Hills is a 99-year leasehold development located in prime District 9. The 493-unit development sits on top of a hill in the exclusive Mount Sophia enclave, along with neighbouring residential developments like Sophia Residence, Haus On Handy and 8 @ Mount Sophia.
The 493-unit Sophia Hills, completed in 2018, was jointly developed by Hoi Hup Realty, Sunway Developments and SC Wong Holdings. (Picture: Samuel Isaac Chua/The Edge Singapore)
The development features a mix of one- and two-bedroom units of 463 to 721 sq ft, dual-key two-bedroom units of 689 to 753 sq ft, and three-bedroom units of 850 to 1,130 sq ft. A few three- and four-bedroom units come with private lift-lobbies and these apartments are sized from 1,313 to 1,539 sq ft.
Sophia Hills, which was completed in 2018, was jointly developed by Hoi Hup Realty, Sunway Developments and SC Wong Holdings. The site features three gazetted conservation buildings, and the architecture and design of the residential blocks at the development incorporates elements from these conserved buildings.
The subject property is located on the fourth floor. The unit will be sold with existing tenancy and the lease is set to expire in December 2021. Based on EdgeProp Singapore’s research on URA rental caveats, the average psf rent per month at Sophia Hills is about $4.60, while the indicative rental yield is about 2.8%.
Two different one-bedroom units at Sophia Hills were leased in February this year, with monthly rents ranging from $2,600 ($4.70 psf) to $3,000 ($6.70 psf).
As the development was completed in 2018, only two resale transactions have been recorded so far. The most recent was the sale of a 710 sq ft unit for $1.41 million ($1,992 psf) on Nov 11 last year. Before that, a 699 sq ft unit changed hands for $1.42 million ($2,030 psf) on July 12, 2019.
Sophia Hills is centrally located within the Dhoby Ghaut precinct and is close to Dhoby Ghaut MRT Interchange Station, which serves the North-East, North-South and Circle Lines. It is also close to shopping centres like Plaza Singapura and The Cathay.
Popular educational institutions in proximity to Sophia Hills include Anglo-Chinese School (Junior), the School of the Arts, Singapore Management University, Nanyang Academy of Fine Arts and LaSalle College of the Arts.
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