Bank sale of two-bedder at Esparina Residences EC for $1.28 mil
The building will appeal to family groups, as it is in just 1km of schools like Palm View Primary School at Compassvale Bow, North Vista Elementary School at Compassvale Link, Punggol Primary School at Hougang Avenue 8, Yio Chu Kang Primary School at Hougang Street 51 and even Montfort Junior School, found at Hougang Avenue 8.
Esparina Residences was finished in 2013. The unit can simply be purchased by a Singapore citizen or long-term resident as it is still within the 10-year duration from completion wherein possession constraints use. An EC assignment is privatised from the 11th year forwards post-completion, following which foreign buyers and also corporate companies are eligible to buy units in the project.
A two-bedroom unit at Esparina Residences, an exec condo unit (EC) located around Compassvale Bow, is going to be put up for public auction by Edmund Tie on July 27. Joy Tan, Edmund Tie’s managing director and head of auction and sales, says the real estate is a mortgagee sale and has a guide price of $1.28 million. The cost turns out to $1,544 psf on the unit’s floor area of 829 sq ft. The condo will be marketed with vacant ownership and on an “as is where is” basis.
An essential demand of the real property is its proximity to facilities, says Edmund Tie’s Tan. Esparina Residences is surrounding to Sengkang Grand Shopping Center on Compassvale Bow, a three-storey retail complex that opened earlier this year. The development is four minutes from Buangkok MRT Terminal (North-East Line) as well as close-by bus stops. Orchard Road is 20 minutes away by car via the Central Expressway (CTE), while the CBD is just over half an hour afar.
The most recent unit to change hands at Esparina Residences is a 1,066 sq ft condominium on the 6th ground that was sold for $1.5 million ($1,408 psf) on June 16. The last transaction before this was for an 829 sq ft unit on the third floor that was sold for $1.275 million ($1,538 psf) on June 1. In April, the project saw a record psf cost higher soon after a 1,001 sq ft unit on the 5th ground modified hands for $1.55 million ($1,548 psf).
Collectively created by Frasers Centrepoint Residences together with Lum Chang Group, the 99-year leasehold condominium has 9 blocks with 573 units. Units make up a mix of two-, three- and even four-bedders from 829 sq ft to 2,583 sq ft. The unit ready for public auction is a corner unit with views of the swimming pool. Tan states the unit is “clean” and also would definitely call for marginal remodelling by the potential owner. Furthermore, the EC supplies complete amenities, including a clubhouse, function area, gym, pool, tennis court and a kids’ play zone.