Unit at Costa Del Sol going for $1.36 mil

The 99-year leasehold Costa Del Sol comprises 906 units (Credit: ET&Co)
At Costa Del Sol in District 16, a 947 sq ft unit will be put up for its first auction on July 31, according to the auctioneer at Edmund Tie and Co (ET&Co). This is a mortgagee sale, with a guide price of $1.36 million ($1,436 psf).
Located on Bayshore Road in the East Coast, Costa Del Sol is a 99-year leasehold development by Japura Development, a subsidiary of Hong Kong tycoon Li Ka-Shing’s Cheung Kong Holdings. Completed in 2003, it has 77 years left on its lease. Costa Del Sol comprises 906 units in 30-storey stacks, and offers a stack of two-bedroom units, with the rest of the development being three- and four-bedroom units. Unit sizes range from 947 sq ft for two-bedders, to 2,659 sq ft four-bedroom units.
The two-bedroom unit on the 24th floor up for auction will be sold with vacant possession. The owner purchased it for $1.28 million ($1,351 psf) in May 2011, according to caveats lodged with URA Realis. It was first bought from the developer for $774,700 ($818 psf) in June 2000.
The unit sits on a “rare corner stack” of Costa Del Sol, and being on a high floor, will “offer the next owner an unblocked view of the surrounding Lucky Heights landed estate, and a partial sea view”, says Joy Tan, head of auction and sales at ET&Co. As a single-loading unit, it offers cross-ventilation, which allows wind in “throughout the day”, she adds.
For price trends, recent transactions, other project info, check out the Costa Del Sol project details page
The unit has a spacious living and dining area (Credit: ET&Co)
Despite being a two-bedroom unit, it has a “wide” living and dining area, and an enclosed kitchen. “Many newer developments only offer a kitchenette for its one- and two-bedroom units,” Tan adds. The master bedroom comes with an en suite...