The Essence

The Essence is a leasehold (99 yrs from 2018) apartment completed in 2023. It is developed by CHONG KUO DEVELOPMENT PTE LTD. It consists of 84 units. According to records, buyers of this development are Singaporean 93.4%, PR 5.5%, Foreigner 1.1%, Company 0.0%.

THE ESSENCE is located along Chong Kuo Road in Yishun, in District 26. It is accessible through the nearest MRTs including Springleaf TE4 and Khatib NS14.

Based on transaction data in the last 12 months, sale prices range from S$ 1,428 psf to S$ 1,638 psf at an average of S$ 1,534 psf. Its highest recorded transaction was S$ 1,762 psf in Nov 2023 for a 624-sqft unit. Its lowest recorded transaction was S$ 1,078 psf in Sep 2021 for a 1,679-sqft unit. Its current rental yield is at 3.2%.

Buyers and tenants are attracted to Singapore’s district 26 comprises Upper Thomson and Yio Chu Kang. Besides residential, some parts of Yio Chu Kang are designated for industrial use. District 26 is served by Circle Line and North-South Line via Marymount and Yio Chu Kang MRT stations, as well as Upper Thomson, Bright Hill and Lentor MRT stations of the Thomson-East Coast Line, opened in 2021. Shopping malls in the area include Thomson Plaza and AMK Hub. Homes at Upper Thomson area are nestled in a green enclave, bounded by Bishan-Ang Mo Kio Park, Island Golf Course and MacRitchie Reservoir Park.

Covering 13,500ha, the North Region is one of the five regions in Singapore. Located further from the Central Business District (CBD), the North Region offers ample greenery as well as a variety of work and play options. These include integrated developments such as Bukit Canberra, an integrated sport and community hub, and the upcoming Woodlands Health Campus, which will open progressively from the end of 2023. When fully opened, the Woodlands Health Campus will have around 1,400 beds to cater to residents in the North Region. The region will also benefit from enhanced connectivity as strategized in the Master Plan 2019. More cycling paths and park connectors will be constructed, with the WoodsVista Gallery offering pedestrian and cycling pathways connecting Woodlands MRT, Admiralty Park and Woodlands Waterfront Park.