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

A two-bedroom unit at Esparina Residences, an exec condominium (EC) situated around Compassvale Bow, is going to be raised for public auction by Edmund Tie on July 27. Joy Tan, Edmund Tie’s executive director as well as head of public auction also sales, says the residential property is a mortgagee sale and has a guide rate of $1.28 million. The rate figures out to $1,544 psf on the unit’s floor area of 829 sq ft. The condominium will be sold with available ownership and also on an “as is where is” basis.

Collectively established by Frasers Centrepoint Homes and Lum Chang Group, the 99-year leasehold condominium has nine blocks with 573 units. Units consist of a blend of two-, three- including four-bedders from 829 sq ft to 2,583 sq ft. The unit up for auction is a corner unit with sights of the pool. Tan states the unit is “well-kept” as well as would require very little improvement by the future proprietor. Additionally, the EC provides complete establishments, featuring a clubhouse, event room, fitness center, swimming pool, tennis court and a kids’ play zone.

The Continuum Singapore

A vital demand of the residential property is its proximity to amenities, claims Edmund Tie’s Tan. Esparina Residences is adjacent to Sengkang Grand Mall on Compassvale Bow, a three-storey retail store complex that opened earlier on this year. The project is four mins from Buangkok MRT Station (North-East Line) and close-by bus stops. Orchard Road is 20 minutes far by car using the Central Expressway (CTE), while the CBD is just over 30 minutes apart.

One of the most latest unit to shift controls at Esparina Residences is a 1,066 sq ft condo on the sixth ground that was sold for $1.5 million ($1,408 psf) on June 16. The previously transaction just 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 property viewed a history psf price high soon after a 1,001 sq ft unit on the 5th ground adjusted hands for $1.55 million ($1,548 psf).

Esparina Residences was carried out in 2013. The unit can only be acquired by a Singapore local or permanent local as it is still within the 10-year time period from finish in which possession constraints apply. An EC job is privatised from the 11th year onwards post-completion, adhering to which foreign buyers and also corporate entities are entitled to buy units in the development.

The real estate will 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 along with Montfort Junior School, positioned at Hougang Avenue 8.

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