Parc Esta Condo Review – Is it worth buying as a resale property ?

This article is specifically written for …

At the time of writing, Parc Esta has already completed its construction phase. It has TOP and is available for purchase on the resale market. 

This article is specifically written for investment minded property buyers considering the purchase of a resale unit in Parc Esta for both home stay and investments. 

We will be addressing the following key consideration that could be top of mind.

• Can I still make money purchasing a unit from its first owner that has profited significantly ?
• What is a good entry price to consider when purchasing a unit in Parc Esta ?
• What are the unit types and layout that you should be looking out for ?

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Our core expertise revolves around helping SG property owners purchase 2nd investment properties without ABSD. Decoupling is often the go-to strategy that we utilise to help our readers minimise ABSD, hence the name Decoupling Expertise. 

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Can I still make money purchasing a resale unit from its first owner that has profited significantly ?

Here’s the average profits generated by Parc Esta’s first owners that have exited shortly after TOP.

Looking at the significant profits that have been made, the immediate consideration would be “ Can I still make money if I am buying a unit from its 1st owners at this price point ?” 

Average Profit by Unit Type – Parc Esta 1st Owner 

To address this consideration, we must answer the following questions.

Two categories of questions need to be satisfied when looking to make money purchasing a resale condo.

Pertaining fundamentals 

• Is there a sustainable and growing exit buyer demand for Parc Esta ?
• Does Parc Esta possess desirable attributes that outcompetes the alternatives available to future buyers ?

Pertaining price

• Am I entering at the right price ?
• Are there future price catalysts to further stimulate pricing ? 

Is there a sustainable and growing exit buyer demand for Parc Esta ?

Based on resale transaction data for Parc Esta, you would see resale buyers are split between 67% private property owners and 33% HDB property owners.

Split of Resale Purchase Transaction – by Buyer Address

Unlike private condo development located further out in the outer central regions where resale buyer demands are dominated by HDB upgraders. Parc Esta, due to its location,  seems to have a greater draw for buyers relocating from a private condo. 

Let’s further review the profile and potential objectives of these exit buyers and later consider if this demand source will be sustained or grow when moving forward. 

Private Condo Upgraders

A significant pool of potential exit buyers for Parc Esta are existing private property owners looking to achieve the following objectives

• Relocate from a less central location to Parc Esta which is more centrally located, which is 7 mrt stops away from Raffles Place MRT. 
• Switch from owning an older condo to a Parc Esta which is newer in terms of lease life, facade and facilities. 

HDB Upgrader

The secondary pool of potential exist buyers will be coming from HDB upgraders from the following districts surrounding Parc Esta

• Eunos
• Bedok
• Chai Chee 
• Aljunied

Will these sources of buyer demand grow or be sustainable moving forward ?

So the big question is will the demand for Parc Esta remain strong after you purchase a unit as a second owner in Parc Esta ?

Making some rational deduction, buyer demand is projected to remain strong moving forward based on the following reasons. 

Buyers are mainly purchasing for home stay and is unaffected by ABSD hike 

Given that these buyers are mainly purchasing for homestay and not investment, it is safe to assume that buyer demand will remain strong and be unaffected by the current and future changes in ABSD rates. 

Prices of resale condo and HDB surrounding Eunos remains strong

As the price of private condos and HDB in Eunos and districts surrounding Eunos, like Bedok and Paya Lebar. Buyers will have the necessary capital unlocked via the sale of their properties in these areas to upgrade to a unit in Parc Esta. 

Sustained Price Growth – Private Condo and Resale HDB in Bedok and Paya Lebar

Does Parc Esta possess desirable attributes that outcompetes the alternatives available to future buyers ?

Having ascertained that future buyer demand will remain strong. Let’s consider if Parc Esta will continue to possess the right attribute to attract these buyers vis a vis competing condo developments in the area. 

Before moving forward, let’s quickly establish the criterias that buyers will look out for. 

1. Lease life – preference for new developments
2. Large Development – for better facilities, more spacious common area 
3. Proximity to reputable primary school
4. Proximity to MRT
5. Affordability – psf and overall purchase quantum

Comparing Parc Esta with developments within Eunos 

The key strength with Parc Esta is that it is positioned as the “big brother” condo development in Eunos. 

There are no comparable condo developments at the same scale and newness when compared with Parc Esta. It is also the condo development that is located closest to the Eunos MRT. 

Comparing Parc Esta with developments in surrounding estates

Looking further out into districts like Aljunied and Paya Lebar. The closest competition that comes to mind are the following developments listed below. 

Again they do not fall into the mega condo development category that possesses apple to apple attributes for comparison with Parc Esta.

1km Radius Paya Lebar MRT

1km Radius Aljunied MRT

Comparing Parc Esta with other Mega Developments

For a like for like comparison, Parc Esta should be evaluated alongside other notable mega developments like Jadescape and possibly Seaside Residences. 

And prices and attributes remain competitive for Parc Esta. 

Are you entering at the right price ?

Having established that the fundamentals for Parc Esta are strong and will remain competitive moving forward. 

The key consideration falls on whether you are purchasing it at the right entry price and if there are future price catalysts that prop up prices. 

Reviewing entry price from a macro perspective

Parc Esta falls into the category of TOP property. These are new launches that have recently TOP and are looking to change hands from its first owner to second owner. 

The crux to determining if it is a good time or good price to buy into a TOP property is to consider its price gap vs a higher priced new launch property. 

Given that a new launch property sets the benchmark prices for other properties to follow. You would ideally want to purchase your TOP property with the widest price gap, meaning the cheaper it is compared to a new launch, the better. 

RCR Region, New Launch vs TOP property Price Gap Analysis 

As a side note, we wrote a dedicated article on when is a good time to buy property in Singapore referencing price gap analysis for different property types across different regions. 

Back to Parc Esta, timing is reasonable but not optimal. 

Referencing the price gap table below, you can see that the psf price gaps between New Launch Property and TOP Property have been closing up. 

If this continues moving forward and you are purchasing with a priority for investment and not home stay, it may make more sense to purchase a new launch property. 

What is a good entry price for Parc Esta ?

Note that the prices that we discuss and establish here are based on the time of writing. If you are reviewing this article at a later date. Feel free to drop us a whatsapp text for a tailored price comparison and review for units are Parc Esta

Fair value entry price

Comparing Parc Esta to equivalent mega development with similar attributes like proximity to MRT and newness in terms of lease life. 

Parc Esta should not be priced higher than its fellow large to mega development peers listed below. 

Fair value for Parc Esta should hover between –  $2,3xx psf to $2,4xx psf inline with Jadescape selling price at the time of writing. 

Cautionary Overvalue price

Using the closest upper bound benchmark new launch as comparison, at any point if Parc Esta is priced too close to the development listed below. You should take heed and consider it a sign of overvaluation. 

Future buyers will consider the purchase of a newer new launch development at a better location if Parc Esta is priced too close to it. 

In summary here are the entry price bands to look out for 

• Fair value – $2,3xx psf to $2,4xx psf inline with Jadescape selling price
• Under value – anything below $2,3xx psf
• Over value – anything that comes close to $2,5xx psf

So will you make money when buying a resale unit in Parc Esta ?

The short answer is yes, due to its strong fundamental. 

But the key consideration is how long do you have to wait for its price to appreciate based on the entry price that you are currently buying into. 

For homestay buyers, this is less of a concern but for investors, it will be helpful to weigh out the opportunity cost of having to hold on to a property for a prolonged duration. 

Potential price catalyst to prop up Parc Esta’s prices

Assuming you were to purchase a unit in Parc Esta now, here are the upcoming price catalysts that will help set new benchmark prices for Parc Esta to price against. 

Launch of 2024 / 2025 New Launches

The launch of these 2 upcoming new launches in equally central location if not less central locations compared to Parc Esta will help set benchmark price for Parc Esta to price against. 

TOP of 2023 / 2024 New Launches 

The completion of these new launches in the neighbouring Katong area will also set new benchmark prices for Parc Esta. 

What is an ideal purchase quantum to aim for when purchasing a unit ?

Purchase quantum matters as much as psf during the reselling process. The goal is to shape your purchase quantum towards being competitive with comparable developments. 

Referencing the following purchase quantum comparison table as a gauge to ensure your purchase quantum remains competitive and is not priced much higher than comparable development. 

As mentioned earlier, instead of comparing with older and smaller scale condos in Eunos, we will use other developments with similar attributes as Parc Esta for comparison. 

2 Bedroom 2 Bath Unit 

For 2 bed 2 bath unit type, you should be looking to secure your unit within the purchase quantum of 1.5 to 1.6 mil. 

3 Bedroom Compact Unit

For a 3 Bedroom compact unit, you should be looking to secure it within the range of 2.0 to 2.1 mil. 

4 Bedroom Standard Unit

For a 4 Bedroom standard unit, you should be looking to secure it within the range of 2.3 to 2.5 mil. 

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What are the best unit types in Parc Esta ?

Moving deeper into the micro selection details, let’s consider what are the best unit types in Parc Esta. 

From a profitability standpoint

The transaction volume, which is indicative of demand and the healthy average profit for 2 bedroom and 3 bedroom units stands out. 

Sales to Supply Ratio

Diving deeper into sales volume vs the number of units available in Parc Esta. It reconfirms that both the 2 bedroom and 3 bedroom unit type are the ones that are more after in Parc Esta. 

Listing to Supply Ratio

From a competitive standpoint, you like to have the least competing listing on the property portal when selling your unit. In the analysis that follows, we track the no of listings vs the no of units available within Parc Esta. 

From a competitive standpoint, the 1 bedroom units have the least optimal listing to supply ratio. It means that you will potentially face the most competition when reselling. 

On the contrary the 2, 3 and 5 bedroom units have the healthiest ratio. 

What are the layouts that are most sought after ?

To get a hint of which layouts are most sought after by resale buyers, we dissect the transaction data into individual layouts and evaluate them based on no of transaction and average profit to get an indication of buyer’s demand. 

Referencing the table below, the following layout within each unit type is most well received amongst resale buyers

2 Bed 1 Bath – 635 sqft, primed for affordability

2 Bed 2 Bath – 743 sqft 

3 Bedroom Compact – 904 sqft with enclosed kitchen

3 Bedroom Plus Study

4 Bedroom Premium – 1227 sqft with dry kitchen 

5 Bedroom – 1339 sqft

More Read Regarding New Launch Condo Research

• Clavon Condo Review
• Stirling Residences Review
• JadeScape Condo Review
• Best Resale Condo Singapore