ESPA

CASHEW ROAD
RESALE CONDODistrict 23
Cashew MRT · 2 min walk (153m)OCR999 yrs lease commencing from 1882
Gross Yield
2.7%
District avg: 3.4%
Median Rent
$3,762
per month
Total Units
78
2Y PSF Change
+2.5%
2 txns in 24m
vs District
+6%
D23 median: $1,471
Lease Remaining
855 yrs
999 yrs lease commencing from 1882
Median PSF
1,490
▼ 14.7% QoQ
Total Sales
8
since 2021-04
Price Range
$1.3M–$2.4M
all-time
Unit Size
1,148 sqft
Floors 1–1
PSF MOVEMENT ALERT — 2025-Q1
Median PSF fell 14.7% quarter-on-quarter (from $1,689 in 2024-Q4 to $1,441 in 2025-Q1). Only 1 transaction this quarter — the move likely reflects thin volume rather than a trend shift.

UrbanLens Analysis

ESPA trades at $1,565 PSF, sitting 6% above the District 23 median of $1,471 PSF. The 2-minute walk to Cashew MRT (153m) is a tangible lifestyle and resale advantage. HILLHAVEN fetches $2,133 PSF nearby -- that 27% gap frames ESPA's relative value proposition.

The +2.5% two-year price movement is negligible -- neither bullish nor bearish. Just 2 transactions in two years -- thin liquidity means pricing carries wide confidence intervals. For context, THE BOTANY AT DAIRY FARM has lost 2.4% over the same period.

The 999-year lease is freehold in all but name. Lease decay is irrelevant for any practical investment horizon, and financing terms mirror true freehold. Gross yield of 2.7% lags the OCR segment average of 3.4%. Investors here are betting on price growth over rental returns.

At 78 units, the development is mid-sized: adequate amenities, manageable maintenance pool, and reasonable resale velocity.

Nearby Comparables

DevelopmentMedian PSFYield2Y Change
HILLHAVEN$2,133—+3.3%
LUMINA GRAND$1,517—-0.6%
SOL ACRES$1,467—+7.7%
THE MYST$2,071—-0.4%
THE BOTANY AT DAIRY FARM$2,010—-2.4%

PSF Trend

Quarterly
1,355
2021-Q2
1,444
2021-Q4
1,288
2022-Q1
1,416
2022-Q2
1,551
2022-Q3
1,689
2024-Q4
1,441
2025-Q1

Recent Transactions

Data refreshed monthly · Last transaction: Mar 2025
DatePriceSizePSFFloor
Mar 2025$2,420,0001,679 sqft$1,44101-05
Dec 2024$1,800,0001,066 sqft$1,68901-05
Sep 2022$1,680,0001,066 sqft$1,57701-05
Jul 2022$1,380,000904 sqft$1,52601-05
Apr 2022$1,280,000904 sqft$1,41601-05
Jan 2022$1,858,0001,442 sqft$1,28801-05
Oct 2021$1,570,0001,087 sqft$1,44401-05
Apr 2021$1,400,0001,033 sqft$1,35501-05
Showing 8 of 8 transactions

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