Unit at Costa Del Sol going for $1.36 mil

By
/ EdgeProp Singapore
|
July 5, 2019 2:10 PM SGT
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.
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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 bathroom. There is a common room and a common bathroom as well.
Directly opposite Costa Del Sol is the upcoming Bayshore MRT Station on the Thomson-East Coast Line, which is scheduled for completion in 2023. This will offer direct trains to the CBD. Costa Del Sol is a seven-minute drive to Bedok Mall, a 10-minute drive to Changi Business Park, and a 12-minute drive to Changi Airport. East Coast Park can be accessed via a direct underpass outside the development.
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The 24th-floor unit comes with a sizeable enclosed kitchen (Credit: ET&Co)
For families with school-going children, Costa Del Sol is a two-minute drive to Temasek Primary School, and a seven-minute drive to Victoria Junior College.
ET&Co’s Tan expects “interest to be good” for the unit, saying that it will appeal to young families, people working at Changi Business Park, as well as investors.
For the Latest Listings near Costa Del Sol, Click Here