Freehold strata terraced house at Este Villa going for $2.35 mil

By Valerie Kor / EdgeProp Singapore | May 29, 2020 5:59 AM SGT
este villa under the hammer
Este Villa is a freehold, strata landed housing development along Nim Road (Photo: Edmund Tie)
SINGAPORE (EDGEPROP) - A freehold, strata, terraced house at Este Villa, along Nim Road, is available for sale at $2.35 million. Spanning 3½ storeys and a basement, the 3,411 sq ft, intermediate terraced house has five bedrooms and a helper’s room. It comes with private lift access to every floor and basement parking for two cars.
The 121-unit strata housing development was launched by MCL Land in mid-October 2011, and all the houses were taken up within a fortnight. The development has a pair of semi-detached houses and the remaining 119 are strata terraced houses. The project was completed in 2013.
The intermediate terraced house at Este Villa that is on the market is a mortgagee sale. It was put up for auction in February and March with opening prices of $2.4 million, but was subsequently withdrawn both times after failing to find a buyer.
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The property will be put up for auction a third time when auctions can resume. In the meantime, it is available for virtual viewing.
“I believe the price [of $2.35 million] is reasonable as some units of the same size in the development are selling at higher prices of above $2.4 million, or $704 psf,” says Joy Tan, head of auctions and sales at Edmund Tie, who is marketing the property.
The latest transaction at Este Villa was for a corner terraced house that changed hands for $2.8 million ($743 psf) in February this year. Prior to that, another strata, intermediate terraced house was sold for $2.4 million ($703 psf) last October, according to URA Realis.
Recent transactions at Este Villa
Contract Date
Area (sq ft)
Price ($)
Price ($ psf)
Feb 4, 2020
3,767
2,800,000
743
Oct 29, 2019
3,412
2,400,000
703
Jul 23, 2019
3,423
2,458,000
718
Jun 20, 2019
3,423
2,410,000
704
Jun 7, 2019
3,412
2,525,000
740
Source: URA Realis
Nearby are Belgravia Green and Belgravia Villas, both located on Belgravia Drive, off Ang Mo Kio Avenue 5. The two strata landed developments are by developer Tong Eng Group.
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Belgravia Villas — a 118-unit, freehold, strata landed development — contains 100 terraced houses and 18 semi-detached houses. The development was launched in 2013 and completed in 2018. The latest transaction of a strata terraced house at Belgravia Villas was for a 3,585 sq ft unit that changed hands for $2.91 million ($812 psf) in April last year. Meanwhile, a strata semi-detached house was sold for $3.4 million ($858 psf) in early May 2020, according to Realis.
Belgravia Green, an 81-unit, freehold strata landed development, has 10 semi-detached houses, 14 terraced houses without lift and 57 terraced houses with private lift. The project was launched in late 2018, and is still under construction. The latest strata terraced house transactions at Belgravia Green were for a terraced house of 3,132 sq ft that was sold for $2.79 million ($891 psf), and another slightly bigger one of 3,423 sq ft that fetched $3.03 million ($891 psf).
Tan notes that the transactions of units sold at Belgravia Villas and Belgravia Green, which are newer, involved prices well above $800 psf.
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EDGEPROP SINGAPORE - The property is one among 119 strata terraced houses that are surrounding by lush landscaping (Photo: Edmund Tie)
The property is one among 119 strata terraced houses that are surrounding by lush landscaping (Photo: Edmund Tie)
She expects Este Villa to attract young couples with children or multi-generational families who want to enjoy condominium facilities while also upgrading to a landed property with the convenience of a private lift.
Este Villa is also near Seletar Aerospace Park, Tan adds. Hence, the property will also attract investors who want to rent it out to those working there. Rental transactions for terraced houses at Este Villa ranged between $4,500 and $6,300 per month, from January to April this year.

Recent rents for 3,000 to 3,500 sq ft units at Este Villa

Lease month (2020)
Monthly rent ($)
April
$4,500
March
$5,450
February
$5,000
January
$6,300
Source: EdgeProp Singapore
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