Casa Sophia up for en bloc sale despite new cooling measures

Christopher Chitty10 Jul 2018

Despite the government’s release of new property cooling measures, the owners of Casa Sophia in District 9 remained undeterred as they launched the 12-unit development up for collective sale with a reserve price of $36 million.

If the sale proves to be a success, each owner stands to gain between $2.69 million and $3.4 million, revealed marketing agent ERA Realty Network.

Located in the heart of Mount Sophia, the freehold property sits on a 12,327.9 sq ft. site that is zoned residential under the 2014 Master Plan, with a gross plot ratio of 2.1.

ERA noted that investors are generally attracted to developments in Mount Sophia due to their prime location in District 9 and close proximity to Dhoby Ghaut MRT and Orchard Road.

“All owners are very supportive and we are happy to have garnered 100 percent consensus. The location is surrounded by prestigious schools and is close to the heart of Orchard Road, projects here will definitely appeal to both investors and families,” said ERA representative Tjhai Citanegara.

Casa Sophia is also near various schools such as Nanyang Academy of Fine Arts, Saint Margaret’s Primary School, LASALLE College of the Arts, Singapore Management University and School of the Arts Singapore.

The tender for the site closes on 14 August.


Senior Content Producer, Christopher Chitty, edited this story.

Jul 11, 2018
Unless the sellers lower their price, it is very difficult for developers to purchase the development after the new ruling as they may not be able to sell all the units within 5 years as Mount Sophia is already congested with too many condos.
El Lee
Jul 11, 2018
Let’s see if Developer is still keen to pick up something, after the new measures were announced. If not, sellers better start to re-think about their pricing and strategy in this market.

You may also like these articles

Fate of en bloc bids now uncertain with new housing curbs

The government’s surprise release of new property cooling measures has left many homeowners jittery, especially those planning to go en bloc.This comes as the fate of their collective sale bids has

Continue Reading9 Jul 2018

No rationale for new property cooling measures, says REDAS

The Real Estate Developers' Association of Singapore (REDAS) sees no rationale in imposing new property cooling measures considering that the Singapore property market is still in the “early stages

Continue Reading9 Jul 2018

People to buy HDB resale flats instead due to new curbs

Experts revealed that the government’s surprise implementation of new cooling measures on the private residential market last week is expected to prompt some people to buy HDB resale flats instead,

Continue Reading10 Jul 2018

Plans for Jurong Lake District not changed regardless of HSR result

The overall impetus and vision for Jurong Lake District has not changed, regardless of the outcome of the high-speed rail (HSR) project between Singapore and Malaysia, said National Development Minist

Continue Reading10 Jul 2018