344 units sold in Esparina Residences EC

Published October 9, 2010
By UMA SHANKARI

344 units sold in Esparina Residences EC

By UMA SHANKARI


A TOTAL of 344 units were sold in Frasers Centrepoint's 573-unit Sengkang executive condominium (EC), Esparina Residences, as of 6pm yesterday.


The developer had received 1,155 applicants for the project since it was launched on Sept 30. Eligible applicants with a ballot number had priority to enter the showflat for the balloting and booking of units yesterday.

But only 344 units were sold. Because of the balloting process, some potential buyers could have decided not to purchase a unit at all if their preferred unit had been sold. In particular, three-bedroom units, penthouses and dual-key units (which are units that can be divided into two separate apartments with different entrances) proved to be popular, Frasers Centrepoint said.

Prices at Esparina Residences range from $590,000 to $723,000 for a two-bedder; $697,000 to $981,000 for a three-bedder; and $1 million to $1.18 million for a four-bedroom unit. Penthouses are priced at between $864,000 and $1.3 million. On a per square foot (psf) basis, unit prices range from $730 to $750 psf on average.

Esparina Residences is the first EC project to be offered to homebuyers since end-2004.

ECs are a hybrid of public and private housing. New EC units are sold with eligibility, ownership and resale restrictions similar to those for public housing, but these restrictions cease to apply after 10 years.

Another EC project, MCC Land's 406-unit The Canopy in Yishun, previews this weekend. MCC Land has priced the units at an average of $600 to $700 psf. Unit sizes at the 99-year leasehold project range from 872 sq ft to 1,410 sq ft in two, three and four-bedroom configurations. There will also be 22 penthouses of between 2,088 and 2,239 sq ft

Source: http://www.businesstimes.com.sg