Bank sale of two-bedder at Esparina Residences EC for $1.28 mil

A two-bedroom unit at Esparina Residences, an executive condo unit (EC) located around Compassvale Bow, will be raised for public auction by Edmund Tie on July 27. Joy Tan, Edmund Tie’s managing director and also head of auction and sales, states the real estate is a mortgagee sale and has an overview cost of $1.28 million. The cost works out to $1,544 psf on the unit’s floor surface area of 829 sq ft. The apartment will be sold with unused ownership and also on an “as is where is” basis.

The real estate is going to attract family groups, as it is inside 1km of institutions like Palm View Elementary 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.

The most recent unit to change controls at Esparina Residences is a 1,066 sq ft condominium on the 6th floor that was sold off for $1.5 million ($1,408 psf) on June 16. The final deal prior to this was for an 829 sq ft unit on the 3rd ground that was sold for $1.275 million ($1,538 psf) on June 1. In April, the project observed a history psf rate high soon after a 1,001 sq ft unit on the 5th ground changed hands for $1.55 million ($1,548 psf).

The Landmark Condo Chin Swee Road

Esparina Residences was completed in 2013. The unit can simply be acquired by a Singapore resident or long-term resident as it is still inside the 10-year duration from finalization wherein ownership limitations utilise. An EC project is privatised from the 11th year beyond post-completion, following which overseas buyers and corporate entities are eligible to acquire units in the property.

An essential appeal of the real estate is its distance to services, states Edmund Tie’s Tan. Esparina Residences is adjacent to Sengkang Grand Shopping Center on Compassvale Bow, a three-storey retail store facility that opened earlier this year. The property development is four mins from Buangkok MRT Terminal (North-East Line) as well as close-by bus stops. Orchard Road is 20 mins away by automobile using the Central Expressway (CTE), while the CBD is just over thirty minutes away.

Jointly created by Frasers Centrepoint Homes together with Lum Chang Team, the 99-year leasehold condominium has nine blocks with 573 units. Units comprise a mix of 2-, 3- and four-bedders from 829 sq ft to 2,583 sq ft. The unit ready for public auction is a corner unit with sights of the swimming pool. Tan states the unit is “clean” and would need minimal improvement by the future proprietor. On top of that, the EC uses complete facilities, incorporating a club, function space, gym, swimming pool, tennis court together with a youngsters’ play area.

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