To determine the price per square foot (psf) increase for Sophia Hills over the last 5 years, we need to look at the historical transaction data.
As of 2018, when Sophia Hills was completed, the prices were not as readily available, but we can start from around that time. Here are some key points:
- In 2018 and the immediate years following, the prices were generally lower due to the project being newly completed. For instance, in the early resale transactions, prices were around $1,800 to $2,000 psf.
- By 2021, prices had started to rise. For example, a 710 sq ft unit was sold for around $2,053 psf.
- As of the recent data, the average sale price psf for Sophia Hills has been around $2,053 to $2,713 psf over the past 6 months.
Given this information, here is a rough estimate of the price psf increase:
- From around $1,800 to $2,000 psf in 2018 to $2,053 to $2,713 psf in 2023-2024, the price psf has increased by approximately 13.5% to 35.6% over the last 5 years.
This indicates a significant appreciation in the property value, reflecting the overall market trends and the desirability of the location.
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