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

Esparina Residences, located along Compassvale Bow, is an Executive Condo (EC) that will soon be put up for auction by Edmund Tie. The two-bedroom unit is a mortgage sale with a guide price of $1.28 million – that comes out to $1,544 psf on its 829 sq ft area. The sale will go through on an “as is where is” basis and with vacant possession. Developed by Frasers Centrepoint Homes and Lum Chang Group, the 99-year leasehold condo has 9 blocks of 573 units, comprised of two-, three- and four-bedders from 829 sq ft to 2,583 sq ft.

The two-bedroom unit is a corner unit that offers a view of the pool and is well-maintained, requiring minimal renovation for the new owner. The EC further offers full facilities, including a clubhouse, function room, gym, pool, tennis court and a kids’ play area.

Esparina Residences’ location is undoubtedly a key draw. Just four minutes away from the Buangkok MRT Station (North-East Line) and close to Sengkang Grand Mall, the property is also in the vicinity of bus stops, and a 20-minute drive away from Orchard Road via the Central Expressway (CTE). Additionally, the CBD is about 30 minutes away.

Being within 1km of schools such as Palm View Primary, North Vista Primary, Punggol Primary, Yio ChuKang Primary and Montfort Junior, Esparina Residences will appeal to families looking for a new home.

The most recent transactions of units at Esparina Residences includes a 1,066 sq ft apartment on the sixth floor that was sold for $1.5 million ($1,408 psf) on June 16, and 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 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).

The launch of Tengah Plantation EC is certainly an exciting development in Singapore’s property market. With its diverse range of facilities and amenities, this development is set to be a major catalyst for the growth of Tengah Town. Not only does it provide potential buyers and investors with higher capital appreciation and rental yields, but also an array of luxurious facilities that would fuel further development in the area. This is truly a great opportunity to capitalize on Singapore’s market demand and capitalise on its potential.

Esparina Residences, given its proximity to amenities and its affordability, is likely to be a highly attractive prospect to potential home buyers. The two-bedroom unit will be put up for auction on July 27 and is open to Singapore citizens and Permanent Residents only – foreign buyers and corporate entities are eligible to purchase units in the development starting from the 11th year onwards post-completion.