Project Review:

Parc Esta

Is it a good buy or bad buy?

Parc Esta Review

A sudden surge in condo sales that took place in July seems to be prompted by a lot of commercial sales that happened.

Moreover, analysts hope that these commercial sales will heal the MCL is the developer loper that has 99 year leasehold over Parc Esta, winning it at a S$ 765.78 million-bid in the biggest collective sale up until that point.

Where is Parc Esta Located?

The rise is something that hasn’t been witnessed in the past sixteen months and therefore many developers experienced bettering in July, and one of them is MCL, the magicians behind Parc Esta condo.

They have a respectable portfolio of building homes all over Singapore and Malaysia for over 50 years as a part of Jardine Matheson Group under Hong Kong Holdings.

Its 1399 units are located on a 34,99708 cubic meter site plan. Their unit mix offers everything from1-bedroom to 5 – bedroom apartments.

Tenure

99-Year

District

14

TOP

April 2023

Site Area

376, 712 sqft

No. of Units

1399

Developer

MCL Land Limited

Nearest MRT Stations

Parc Esta is maybe among the best properties when it comes to its proximity to MRT’s.

The first one we have to mention is Eunos MRT to which you need just nine minutes on foot.

This is as above-ground station constructed along the East West Line, mostly used by the citizens of Eunos, Geylang Serai, Joo Chiat Telok Gurau and partly Kembangan.

It stands out because of its characteristic Malay architecture with pyramid-like roofs.

Another MRT that has to be noted is Paya Lebar.

Not only does this region offer great exquisite places for you to spend your leisure time, but it also has a station whose outreach will take you to every place in Singapore.

This is a crucial transport node and an interchange station that connects East-West Line and Circle Line Stage 2.

By bus, it takes only fourteen minutes to reach it, and you have a wide array of options that will drive you there such as busses 2,7,13, 21, 51, 67 and 7A.

This is another well-equipped station that has both stairs and lifts to take you to the concourse below.

Kembangan MRT is another vital station worth considering.

This is an above-ground station buily over the Siglap Canal.

Sitting on the East West Line, it is most frequently used by residents of estates such as Kembangan, Siglap amd Telok Kurau.

This is a very spacious station with a barrel vault roof design that helps you to be better oriented there.

Fans of ill keep you cool as you approach your platform or look for the retail shops or an emergency toilet.

Raffles Place

The Raffles Place is only 14 min drive-away by car.

This MRT is situated in what is now known as the business centre of Singapore.

It is self-explanatory why this is significant: if you’re employed there you can always be on time for work, but you can also scout for a new job , search for new job opportunities, business partners or simply ideas.

This area also hides a lot of touristically interesting things.

Firstly, people who love enjoying spectacular views, they are free to visit the 28th floor of UOB Plaza One.

Then there is the Raffles Hotel with along and rich history that started in the 19th century.

Along with boutiques and restaurants and, of course, extravagant rooms, they also have a museum that is a must for all the ones that are in love with antiques.

In addition to this, you should also pay a visit to the Victorian style theatre, numerous spas and courtyards. Finally, don’t miss out on that Singapore Sling!

Location

This is probably the very first aspect you consider when you are buying a real estate.

The reasons for this are different: you want to be near your workplace, you want your children to be near their school, you want to live in a pleasant neighbourhood or you are simply lazy and want to be within the range of all the most necessary facilities.

Parc Esta is absolutely at the location of your dreams.

As mentioned previously, even without a car you can get to your destination by public transport because busses nearby lead to all the pivotal MRT’s, one of them being close even if you walk.

But let’s talk about the District 14, where the property is located.

Geylang is one of the townships in this district unfairly marked for its Red Light area.

Historical value of this area has to be put to the forefront.

This is maybe one of the oldest regions of Singapore, originally known for coconut plantations.

Even the name itself means crush, referring to crushing coconuts in order to extract all the goods it can give.

The development of Geylang can be best seen in small workshops that people built up.

As the technologies changed, those shops’ specialisation evolved too, dealing with all materials from wood, to iron then rubber and plastic from which they made transportation products as well as furniture.

This area has been under occupation of different countries such as Britain and Japan but now it is well-developed.

It houses some of the world’s most famous markets auch as Geylang Serai but less known fact is that Simens Centre is also situated there.

PARC ESTA

Sims Avenue, Singapore

The selling points about development

I would say that location is considered as main selling point. At the same time being right to MRT station is attractive advantage whether you are looking to purchase it for own stay or to have it rented out. Queenstown is filled with news of new condo development which is called as stirling residencies. It is located close to the lots of shopping malls and plazas. This kind of the condo is nearby schools like Crescent Girls secondary school, National University of Singapore and Gan Eng primary school. It has close in certain area like food centre, Mei Ling market and Dawson Hawker centre.

Pricing: This project is still very fresh.

Therefore, the pricings are still not released.

Estimated psf ppr price is $909 but including additional costs such as marketing, the final average price is between $1,700 and $1,750.

You have to bear in mind, however, that the prices may change until the release day and the best you can do is inquire about them around the period of release.

Schools: Tanjong Katong Primary School was formed in 1986, and by 2001 it merged three schools in one: Seraya School, Fowlie Primary School and Haig Boys School.

This school offers only prime education and protection to your children.

They nurture respect and responsibility, maintain discipline and promote them empathy, integrity and preservance.

By giving their students holistic education they want them to make a change in the society and that even small contribution to it is appreciated.

They make school fun but also educational

Tao Nan School boast a very long history in Singapore.

It all began in 1906.when Chinese merchants came up with an idea to create a modern Chinese school for Hokkiens.

Students were being educated on Confucian classics and calligraphy and then they incorporated geopgraphy and languages.

However, this school is now absolutely modernized.

They have programmes for gifted children and wish to develop bilingualism in children from an early age .

Telok Kurau Primary School is one more of the ones close to the Parc Esta.

It looks to build up a nice and respectful relationship between students by giving them great hangout places.

However, they have to strictly follow rules at the same time.

The school also nurishes love for the world by accepting international students.

Among the subjects taught are mathematics, Chinese, English, art, Malay, Tam, ICT etc.

Parc Esta Amenities: Singapore Post Centre is nearby and will amaze you with its grandeur.

It looks like a spaceship and android definitely doesn’t look like posts you have probably seen.

It takes only five minutes down the Changi Road and one one turn at the Seran Market in Geylang.

This building is a feast for eyes even when you don’t have any business to finish there.

If you get hungry, Parc Esta area is just in the right place.

There are myriads of restaurants nearby.

You can go to Artisan’s Boulangerie that offers many signature breakfasts, sandwiches coofees and coffee and even kids menus, or try burgers in Baba Chew’s bar.

Other restaurants we could recommend are Golden Jade Restaurant, Tang Ser Seng Herbs Restaurant, Tonny Restaurant and G7 Live Seafood and G7 Frog Porridge Restaurant.

There are also some significant religious sites such as Masjid Darul Aman with traditional Malay architecture as well as Mangala Vihara Buddhist Temple with the Golden Buddha statue just across the street.

Kembangan locates worship places such as Dhammasukha Memorial Hall, Mongkol Dharm Centre, The Buddhist Union etc.

Recreation is also something you can find in the vicinity of Parc Esta.

Malay Village is there to give you treat you with the best of what nature can give.

This village showcases the style of living of kampung  during 50s and 60s embedded in greenery.

Now, you are unfortunately to witness that lifestyle live but there are a lot of museums and preserved kedai (wooden shops from that time), that can tell you the story of old Malay Culture.

My thoughts about the development

If we take Parc Esta prices and compare them to the prices of condos of nearby launches, we can see that there is a slight difference.

For example, in Tre Vor, a normal one-bedroom apartment is sold for averagely 700 000 dollars.

An apartment in 110 Potong Pasir Avenue, District 13 is offered for 738,000 dollars while a two-bedroom condo at the same address costs 1,023,000 dollars.

This generally applies to all the other condos of this size, but interestgly, you can get a three bedroom condo here for just 500,000 dollars more.

The four-bedroom apartments will take well over 2.000.000 dollars.

To put it into the perspective of a little bit smaller numbers, the smallest amount of money you will have to pay for a condo per square foot is $494 and the average is $1,295.

Condos in Geylang seem to be on the same level, with the average price of 1,200 dollars per square foot.

What we have to notice, however, is that prices differ significantly based on the number of bathrroms, meaning that you can get a three bedroom apartment at a fairly reasonable price if it has only one bathroom.

All in all, our overall complaint is that the average psf price is somewhat higher than what is on the menu for the same period of launching of other projects.

Even old buildings aren’t on the cheap side anymore.

A Euonsville 30-year old apartment in D14 in Geylang is averagely 1,500 dollars per square foot, much more than for the new Parc Esta one.

True, Parc Esta is not in the Geylang centre, but a for the differnece in cost it pays off to walk a bit to go there.

Conclusion

An overall conclusion is that Parc Esta really offers something suitable for every type of investors.

An average family can easily find an apartment at an relatively acceptable price.

Moreover, the location is superb because it provides great entertainment, education and connectivity to other parts of Singapore through some of the vital MRT’s.

  • Pricing – 98%

Parc Esta PricingEstimated psf ppr price is $909 but including additional costs such as marketing, the final average price is between $1,700 and $1,750. You have to bear in mind, however, that the prices may change until the release day and the best you can do is inquire about them around the period of release.

  • Location – 90%

Parc Esta is absolutely at the location of your dreams. As mentioned previously, even without a car you can get to your destination by public transport because busses nearby lead to all the pivotal MRT’s, one of them being close even if you walk.

  • Quality – 85%

MCL Land, a subsidiary of Hong Kong Land as a firm was founded on 2nd March 1889 by two distinguished famous and reputable businessmen; James Johnstone Keswick and Sir Paul Chater. Parc Esta Developer, MCL land group is a reputable real estate firm based in Singapore and has undertaken and successfully completed numerous high-class residential developments over the past 5 decades.

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