New EC at Sumang Walk

d5dude

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Thanks for clarifying.
But still subject to 3 years SSD right for resale EC.

Ya but all private properties got SSD, so there is really no difference.

Anyway just look at how Prive and other EC prices jump straight after 5 yr MOP and you can see just how the restrictions matter. Income ceiling, family nucleus, resale levy, MOP, etc etc all these things matter a lot.
 

NiShiZhu

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Ya but all private properties got SSD, so there is really no difference.

Anyway just look at how Prive and other EC prices jump straight after 5 yr MOP and you can see just how the restrictions matter. Income ceiling, family nucleus, resale levy, MOP, etc etc all these things matter a lot.

That probably explains the high resale transaction at Prive.
Thanks, today learn a lot on new EC restrictions since this is the sector I never venture in before.
Then again, Many buyers may still think novelty comes with a price.
 
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weng

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I wish I could but there is too few EC projects for me to give you a good comparison. There a hiatus in EC launches fro 2008 till 2013(prive). Not forgetting that 2008 was financial crisis and I am unable to dig up such old data.

Prive is the only EC we can refer to in PK/SK that topped and finished MOP in the last decade. The resale price of Prive EC is the same as any other PC in PG/SK. Therefore, I think we can compare Sumang EC with any other resale punggol condos which are going for $1,050 on avg.

However, in 2014/2015 when those ECs were sold for $800psf ... ... ... there are no new condos in punggol to compare with at all. So, only data we can use for comparison is the discount from private condo launch.. and that discount now is a far cry from in the past...

I think Austville Residences also can be used as example... same age as Prive. Riversound is right beside it being around 1 year younger.
 

endlssorrow

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EC when buy shouldn’t sell
When sold they goin to upgrade meh? Up to PC? Got meaning meh?
 

Zze121

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Sumang land bid result came out on Feb 2018.


Prive transactions price before this date was 826psf.


Mar 2018 onwards, those 1100sqft and below units at Prive transacted at 984psf on average, highest hit 1064psf, lowest 865psf.


In total, sales of all sizes units transacted after Feb 2018 till now, 139 changed hands.


The land bid result does drive up resale price and resale volumn at Prive.
Those smart one made the first move.
 

sgpropertyblog

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This is when we need to compare sumang with other punggol resale condos...

And how liveable are sumang units? Please post some pics of showflat when you can.


wont be apple-to-apple comparison if compare Piermont with punggol resale condo.. as Piermont is new launch.. as there are no other new launch in Punggol currently, the closest one probably is Parc Botannia in Sengkang?

size wise, not the biggest amongst all the EC currently ( cant say for the future EC though), but very decent size..

3bdrms 840 / 990 / 969 /1023 / 1055 / 1130sq
4bdrms 1302 / 1356 / 1367sqft
5bdrms 1432 / 1507 sqft

but for new launch, 3bdrms from $9xxK in D19, I think now canot find ady.. I maybe wrong, if u come across any, please let me know.. so I can swing my clients over if they dunwan to buy Piermont.. :s13:
 

tanjiakpeng

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wont be apple-to-apple comparison if compare Piermont with punggol resale condo.. as Piermont is new launch.. as there are no other new launch in Punggol currently, the closest one probably is Parc Botannia in Sengkang?

size wise, not the biggest amongst all the EC currently ( cant say for the future EC though), but very decent size..

3bdrms 840 / 990 / 969 /1023 / 1055 / 1130sq
4bdrms 1302 / 1356 / 1367sqft
5bdrms 1432 / 1507 sqft

but for new launch, 3bdrms from $9xxK in D19, I think now canot find ady.. I maybe wrong, if u come across any, please let me know.. so I can swing my clients over if they dunwan to buy Piermont.. :s13:
Riverfront and Florence Residence in D19
 

annetyu

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wont be apple-to-apple comparison if compare Piermont with punggol resale condo.. as Piermont is new launch.. as there are no other new launch in Punggol currently, the closest one probably is Parc Botannia in Sengkang?

size wise, not the biggest amongst all the EC currently ( cant say for the future EC though), but very decent size..

3bdrms 840 / 990 / 969 /1023 / 1055 / 1130sq
4bdrms 1302 / 1356 / 1367sqft
5bdrms 1432 / 1507 sqft

but for new launch, 3bdrms from $9xxK in D19, I think now canot find ady.. I maybe wrong, if u come across any, please let me know.. so I can swing my clients over if they dunwan to buy Piermont.. :s13:

This sumang EC is priced against all these overpriced new launches, so of cause you're unlikely to find any lower priced new launches.

Please take photos of the showflat when you can, esp of the most common 840 sqft 3 bedder.

You're lucky many don't care about livability anymore, so your sales should be good! Try to distribute more flyers around SK/PK hdb and all the best!
 

annetyu

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Exactly, its all about land bids and en bloc money.

En bloc money formed the support of the high prices and everyone else have no choice but to follow through.

Very smart move by developers actually. They created buyers for their own developments who have the means to push prices up with the windfall.
 
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birmingham123

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Sumang land bid result came out on Feb 2018.


Prive transactions price before this date was 826psf.


Mar 2018 onwards, those 1100sqft and below units at Prive transacted at 984psf on average, highest hit 1064psf, lowest 865psf.


In total, sales of all sizes units transacted after Feb 2018 till now, 139 changed hands.


The land bid result does drive up resale price and resale volumn at Prive.
Those smart one made the first move.

I feel not high enough ley, normally ready to move in should be selling higher than launch ones where u need to wait 3years to move in
 

annetyu

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I feel not high enough ley, normally ready to move in should be selling higher than launch ones where u need to wait 3years to move in

Goes to show that new launches are overpriced.

Old resales are supposed to be higher than new launch? Really?

Either you are a newbie or trying hard to flip your flat.
 

sgpropertyblog

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This sumang EC is priced against all these overpriced new launches, so of cause you're unlikely to find any lower priced new launches.

Please take photos of the showflat when you can, esp of the most common 840 sqft 3 bedder.

You're lucky many don't care about livability anymore, so your sales should be good! Try to distribute more flyers around SK/PK hdb and all the best!

will post some pics on Friday.. don't have the breakdown of the common rooms yet.. but if im not wrong, should be around 8-9 sm for common room..
 

d5dude

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Sumang land bid result came out on Feb 2018.


Prive transactions price before this date was 826psf.


Mar 2018 onwards, those 1100sqft and below units at Prive transacted at 984psf on average, highest hit 1064psf, lowest 865psf.


In total, sales of all sizes units transacted after Feb 2018 till now, 139 changed hands.


The land bid result does drive up resale price and resale volumn at Prive.
Those smart one made the first move.

It was due to MOP, got nothing to do with land bid. Prive reached its 5 yr MOP in July 2018. HDB will usually allow early sale for frivolous reasons if MOP is only a few months away so the transactions after March were likely those cases.

You can see that prices jumped another few % again after it reached MOP in July.
 

annetyu

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U are funny. If people does not share the same thoughts as you, then he must be this or must that. I not an expert, but can already see you are trying too hard already

Go and reread your recent comments.

“Resale condo should price higher than new launch condo”. This is obviously ridiculous.

“Resale condo should catch up with new launch pricing, not the other way round”. Like that developers can anyhow bid la?

If you can post some facts to justify your points, I am cool. However, your above 2 statements are obviously incorrect.
 

birmingham123

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Goes to show that new launches are overpriced.

Old resales are supposed to be higher than new launch? Really?

Either you are a newbie or trying hard to flip your flat.


U are funny. If people does not share the same thoughts as you, then he must be this or must that. I not an expert, but can already see you are trying too hard already

If old resale cannot be priced higher than launch time, then no one will buy at launch anymore.. usually during launch time, project will launch at a price and given some developer discount.. when the project is selling well, developer will remove some discount along the way and during top, that is when the price usually is the highest. That is what I see for most projects including EC and condos. But if the project cannot sell, then developer will cut price instead. But overall, at least for EC cases is price is always going up when near top because EC always get sold out !

For the case of resales higher than launch price, I already state that this is the trend I always see last time. And this is the reason why people buy and flip properties right ? That is why I am surprised that now resales price lower than launch when I feel resales market is not yet catching up.

U can have your view new launch now is overpriced. I agree too, but if the project get sold out eventually, that means the project is not overpriced. I dare say this Samsung ec will sold out before it's top date anyway
 

NiShiZhu

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It was due to MOP, got nothing to do with land bid. Prive reached its 5 yr MOP in July 2018. HDB will usually allow early sale for frivolous reasons if MOP is only a few months away so the transactions after March were likely those cases.

You can see that prices jumped another few % again after it reached MOP in July.

I also recalled Prive MOP is around July 2018 and true enough, there’s a jump in price, on average ard 9xx to 1kpsf.
But what kind of frivolous reasons allows EC to be sold earlier than its MOP date? I’m quite surprise HDB can allow that. Can state some examples?
 
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