Still buy uncompleted condo? URA said is a ‘private matter’ meaning no matter how big or reputable developer also no use, once the bank is the paramount mortgagee, die die want to take back the land or project, developer & owners also BO PIAN. You are not protected by laws, authorities, rules, regulations in the S&P, all this consider as ‘ PRIVATE MATTER’.
Let's face it, an EC anything above 1000psf will be a joke with 14k income ceiling
Ceiling can increase.
If you are looking at facilities in the neighbourhood, I think the 3 malls in Tampines and the facilities at Tampines Hub etc combined are more than a match for Punggol amenities. In Tampines central area alone you have 2 cinemas and at least 6 big gym outlets (each bigger than anything a condo can offer).By feeder bus Treasures is only 3 bus stops away from tampines central so you shouldn't be comparing everything in punggol vs only the tamp round market/Tamp Safra area.
Probably let me do a comparison between both.
Assuming sumang launch at 1150psf vs treasure at 13xxpsf.
Sumang (pros)
1) by CDL, quality, reliability better than Sim Lian
2) Punggol to me is a hidden gem since 2012. It has a billion dollar waterway park and I must admit the landscape is nice. Almost every weekend, I will go for 8km run there. From Waterway Point to white bee Hoon (Punggol settlement) and back. Very nice experience.
3) heard new hawker centre and library coming up, near Watertown area, digital town, the plot next to Watertown is slated for mix commercial purpose. Quite a few exciting things gonna happen in Punggol. So no lack of amenities at Punggol central area.
4) the surrounding is relatively new compared to Tampines.
5) though 1150sqft for an EC, still the lowest compared to other recent new launch condo. Buyers who have limited Budget may still consider. EC usually limited stock, that’s why rivercove sells well. (But bear in mind the sale is good may be due to its launch before CM) where other condo price are priced sky high at that time.
6) number of units much much lesser than treasure. More privacy?
Sumang (Cons)
1) EC status bind by MOP rules.
2) though walkable to Waterway Point, but it’s a good 15-20mins walk under hot sun. May be inconvenient for old folks who simply just want to buy food or groceries.
3) 1150psf to 1200psf for EC is rather high and is quite close to the price of Treasure psf which has no MOP ruling.
4) consider ulu for a 1150psf EC at sumang. Other better options are a treasure trove or Parc centro (11xxpsf) or Watertown at 13xxpsf. All have mall and mrt at doorstep. But they are around 7 year old condo.
Treasure (Pros)
1) priced at 13xxpsf, quite close to EC if sumang launch at 1150 to 1200psf. One of the cheapest psf in current market.
2) not bind by MOP rule. Can sell after 3 years not subjected to SSD. Buy EC will at least stuck for 8-9 years (3 years to build, 5 years MOP before can sell)
3) a sizeable market next to it with many good food, very convenient for Aging parents to get food and groceries.
4) some pple like Tampines because it’s a mature estate.
Treasure (Cons)
1) 2203 units, lack privacy, stiff competition in rental/sell.
2) traffic issue, noise etc.
3) by Sim Lian, design may be HDB look alike (not sure, just based on other project designed by Sim Lian)
4) some may deem that area as quite boring compared to Punggol area which is popular among young couples. No fight in terms of landscape compared to waterway.
Hope my comparison helps and neutral.
I personally prefer Punggol than Tampines area, more exciting amenities coming up, but I’m not a fan of EC cos of MOP ruling.
https://dividendpassiveincome.blogspot.com/2019/05/developer-sph-and-kajima-slashed.html
Note how much a buyer who buys now gain over the initial launch buyers?
Wise men say, only fools rush in.....
Is this mix development at mrt (rcr) a better buy than treasure at 13xx (ocr)?
I don’t think it’s necessary to compensate the early buyers with renovation packages whatsoever. Willing buyer, willing seller and it’s a normal strategy to skim the market. Hopefully, the loss from these group of buyers serves as a lesson for the rest of the market.
Just last December, a couple of individuals were ridiculing others who commented about high prices and predicting a 10-20% discount. This is just the start and will create ripple effects on other developments. Gazania and Lilium can no longer claim that they are selling at leasehold prices and park colonial has to react accordingly. Soon Treasure will follow.
Just last December, a couple of individuals were ridiculing others who commented about high prices and predicting a 10-20% discount. This is just the start and will create ripple effects on other developments. Gazania and Lilium can no longer claim that they are selling at leasehold prices and park colonial has to react accordingly. Soon Treasure will follow.
the prices released for this launch (1800+psf?) are for only a limited number of units..
I assume that with this correction, it is closer to realistic pricing?
what are the chances that after this launch, they increase prices again on the back of good sales figures?
I think it may be unlikely, as increasing prices again, will bring them back to square one..
so probably the pricing will be here to stay.
in an ideal world, G L & PC will feel the pressure.. but in reality, how long before developers will react?
any other more informed guys can enlighten me?
Ceiling can increase.