Bank sale of two-bedder at Esparina Residences EC for $1.28 mil
/ EdgeProp Singapore |
The unit, which will be put up for auction on July 27, has views facing towards the pool (Picture: Edmund Tie)
SINGAPORE (EDGEPROP) - A two-bedroom unit at Esparina Residences, an executive condo (EC) located along Compassvale Bow, will be put up for auction by Edmund Tie on July 27. Joy Tan, Edmund Tie’s executive director and head of auction and sales, says the property is a mortgagee sale and has a guide price of $1.28 million. The price works out to $1,544 psf on the unit’s floor area of 829 sq ft. The apartment will be sold with vacant possession and on an “as is where is” basis.
Map and overview of Esparina Residences. It is located close to Sengkang Grand Residences and Sengkang Grand Mall (shown in purple), adjacent to the Buangkok MRT Station (Source: EdgeProp LandLens)
Esparina Residences was completed in 2013. The unit can only be purchased by a Singapore citizen or permanent resident as it is still within the 10-year period from completion in which ownership restrictions apply. An EC project is privatised from the 11th year onwards post-completion, following which foreign buyers and corporate entities are eligible to purchase units in the development.
The living room and kitchen (Picture: Edmund Tie)
Jointly developed by Frasers Centrepoint Homes and Lum Chang Group, the 99-year leasehold condo has nine blocks with 573 units. Units comprise a mix of two-, three- and four-bedders from 829 sq ft to 2,583 sq ft. The unit up for auction is a corner unit with views of the pool. Tan says the unit is “well-kept” and would require minimal renovation by the future owner. In addition, the EC offers full facilities, including a clubhouse, function room, gym, pool, tennis court and a kids’ play area.
The most recent unit to change hands at Esparina Residences is a 1,066 sq ft apartment on the sixth floor 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 development saw a record psf price high after a 1,001 sq ft unit on the fifth floor changed hands for $1.55 million ($1,548 psf).
A key appeal of the property is its proximity to amenities, says Edmund Tie’s Tan. Esparina Residences is adjacent to Sengkang Grand Mall on Compassvale Bow, a three-storey retail complex that opened earlier this year. The development is four minutes from Buangkok MRT Station (North-East Line) and nearby bus stops. Orchard Road is 20 minutes away by car via the Central Expressway (CTE), while the CBD is just over 30 minutes away.
The property will appeal to families, as it is within 1km of schools like Palm View Primary School at Compassvale Bow, North Vista Primary School at Compassvale Link, Punggol Primary School at Hougang Avenue 8, Yio Chu Kang Primary School at Hougang Street 51 and Montfort Junior School, located at Hougang Avenue 8.
Check out the latest listings near Esparina Residences, Buangkok MRT Station, Palm View Primary School, North Vista Primary School, Punggol Primary School, Yio Chu Kang Primary School, Montfort Junior School
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