About 344 units at the 573-unit Esparina Residences EC project have been sold as of October 10.
Frasers Centrepoint, which developed the project, received a total of 1,155 applications since it was launched on September 30. However, only 344 units were sold due to its balloting process, with some potential homebuyers deciding not to buy a unit since their chosen unit had already been sold.
Prices at the project range from $590,000 to $1.18 million for two-, three- and four-bedroom units, while penthouses are priced at around $864,000 to $1.3 million.
The Esparina Residences is the first EC project to be offered in the market, after a five-year hiatus.
Executive condominium projects are a hybrid of private and public housing, with new EC units now being sold with eligibility, resale and ownership restrictions similar to the rules in public housing. However, these restrictions will end after 10 years.
Another EC project, The Canopy in Yishun, was launched for preview last weekend. Prices at the project range from $600 psf to $700 psf, with sizes ranging between 872 sq ft and 1,410 sq ft for two-, three, and four-bedroom units.