New EC at Sumang Walk

birmingham123

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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.

If developer launch a project at a sky high price and not many people buy, of coz the price will drop. But for sold out projects, normally what I see is resales market price will be higher than launch time or catch up with the new launch in the surrounding or higher since it is a ready unit and no need to wait.
 

annetyu

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If developer launch a project at a sky high price and not many people buy, of coz the price will drop. But for sold out projects, normally what I see is resales market price will be higher than launch time or catch up with the new launch in the surrounding or higher since it is a ready unit and no need to wait.

I think you mean resales of yet to be topped developments. That should be called sub sales... Maybe that’s why we have a misunderstanding... If that is what you’re talking about then maybe yes but not always true. If true then everyone can just snap up new launch on first day and expect to make profit. Money where got so easy to make one?? :o

Sumang can sell out because it’s still considered affordable. However it looks like more are squeezing themselves dry for the sake of staying in condo, with less money for other uses. It’s their choice of course... but now they don’t really seem to have a choice, it’s the developers playing with the market.
 

birmingham123

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I think you mean resales of yet to be topped developments. That should be called sub sales... Maybe that’s why we have a misunderstanding... If that is what you’re talking about then maybe yes but not always true. If true then everyone can just snap up new launch on first day and expect to make profit. Money where got so easy to make one?? :o

Sumang can sell out because it’s still considered affordable. However it looks like more are squeezing themselves dry for the sake of staying in condo, with less money for other uses. It’s their choice of course... but now they don’t really seem to have a choice, it’s the developers playing with the market.

Actually my point is, for example highpark at fernvale, after top, there is another project beside it parc botanic or something, so highpark initially launch at 900psf, then beside it parc botanic launch at 1200psf is it ? So did highpark resales sell at 1200psf or way below it ?
 

Passerboy

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Actually my point is, for example highpark at fernvale, after top, there is another project beside it parc botanic or something, so highpark initially launch at 900psf, then beside it parc botanic launch at 1200psf is it ? So did highpark resales sell at 1200psf or way below it ?

I think from the other perspective, new EC Sumang link is going to launch at 1100psf upwards, highpark being a private condo would not sell at 900psf given that it is a newly TOP condo in the same vicinity. In due time, I would think highpark would reach 1250psf upwards. The time of 900psf for new launch private condo may have passed; cheapest private condo in 2018(I think)—riverfront is at 12xx psf when launched. Looking back, I had wished I started looking into the market 3 years back.
 
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NiShiZhu

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I think from the other perspective, new EC Sumang link is going to launch at 1100psf upwards, highpark being a private condo would not sell at 900psf given that it is a newly TOP condo in the same vicinity. In due time, I would think highpark would reach 1250psf upwards. The time of 900psf for new launch private condo may have passed; cheapest private condo in 2018(I think)—riverfront is at 12xx psf when launched. Looking back, I had wished I started looking into the market 3 years back.

I always lament why I didn’t buy duo residence when it was selling at 1800psf or poiz residence at 13xxpsf as those who bought are likely to be the winners. Each cycle has its bull run and down cycle. I try tell myself don’t look back and lament the past.
Fret not, let history be our learning point for this round and don’t miss the boat again in the next round when you see an opportunity coming along your way. Start saving your bullet now and patiently wait for the right time.

Undeniably, to make money from property is getting harder.
 
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Passerboy

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I always lament why I didn’t buy duo residence when it was selling at 1800psf or poiz residence at 13xxpsf as those who bought are likely to be the winners. Each cycle has its bull run and down cycle. I try tell myself don’t look back and lament the past.
Fret not, let history be our learning point for this round and don’t miss the boat again in the next round when you see an opportunity coming along your way. Start saving your bullet now.

Undeniably, to make money from property is getting harder.

Haha I ask myself the same question too on the poi’s residences everytime I pass by potong pasir. Or question why didn’t I buy commonwealth towers when launched. I guess it’s always easy to look back and lament retrospectively, but to put our money where the mouth is is the hardest haha.

In current market, it is harder than ever to tell when the opportunity would arise.
 

annetyu

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Actually my point is, for example highpark at fernvale, after top, there is another project beside it parc botanic or something, so highpark initially launch at 900psf, then beside it parc botanic launch at 1200psf is it ? So did highpark resales sell at 1200psf or way below it ?

Well, the newer just topped resale projects definitely have benefitted during this euphoric period. High park buyers are lucky to have purchased just before the enbloc craze.

However, if you look at the wider resale market, prices are still lagging far behind. And new launch pricing surged 20-30% in less than 1.5 years. This is the basis of my arguments since I joined the forum. Some acknowledged it but others remain ignorant. My friends Ravi and Lawrence seem to share the same thoughts as me.

As I said before, if market and economy is really doing well, it doesn’t need to rely on new launches to push up prices and instead we should see upwards movements in every segment of the property market.. However, everything now is based off developer land bids and launch prices.

Sorry to repeat myself again since many still don’t seem to get it. I am totally fine with high prices if resales and other economic indicators are moving in tandem as well but are they?

I’d rather have a gradual increase in prices rather than a sudden spike followed by 5 years of a dying market again.
 

NiShiZhu

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Haha I ask myself the same question too on the poi’s residences everytime I pass by potong pasir. Or question why didn’t I buy commonwealth towers when launched. I guess it’s always easy to look back and lament retrospectively, but to put our money where the mouth is is the hardest haha.

In current market, it is harder than ever to tell when the opportunity would arise.

Even you buy poiz residence 2-3 years back, pple will still laugh at you stupid.
Even u buy 8@woodleigh in 2009, pple will still say u crazy and ask u why buy during recession?

Take the forum comments with a pinch of salt, make your own judgement call based on your own financial capacity.
 

annetyu

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Haha I ask myself the same question too on the poi’s residences everytime I pass by potong pasir. Or question why didn’t I buy commonwealth towers when launched. I guess it’s always easy to look back and lament retrospectively, but to put our money where the mouth is is the hardest haha.

In current market, it is harder than ever to tell when the opportunity would arise.

Why did I not buy more landed at 1 million dollars 10 years ago?

Why I sell my landed so early?

Who knows when developers will get crazy and bid for properties collectively again? Please let us know.
 
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birmingham123

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Well, the newer just topped resale projects definitely have benefitted during this euphoric period. High park buyers are lucky to have purchased just before the enbloc craze.

However, if you look at the wider resale market, prices are still lagging far behind. And new launch pricing surged 20-30% in less than 1.5 years. This is the basis of my arguments since I joined the forum. Some acknowledged it but others remain ignorant. My friends Ravi and Lawrence seem to share the same thoughts as me.

As I said before, if market and economy is really doing well, it doesn’t need to rely on new launches to push up prices and instead we should see upwards movements in every segment of the property market.. However, everything now is based off developer land bids and launch prices.

Sorry to repeat myself again since many still don’t seem to get it. I am totally fine with high prices if resales and other economic indicators are moving in tandem as well but are they?

I’d rather have a gradual increase in prices rather than a sudden spike followed by 5 years of a dying market again.

That is precisely my point too. New launch price raise so fast and resale market lag behind which make it a better buy in my opinion. If more people go for resale, resale price will catch up too
 

Zze121

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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.
This is what we see from caveat:
1,044 18-Jul
1,011 18-Jul
942 18-Jul
893 18-Jul
742 18-Jul - 1600sf
865 18-Jul
1,006 18-Jul
899 18-May
908 18-Mar
870 18-Feb
711 18-Jan
850 17-Nov
822 17-Oct
863 17-Sep
880 17-Aug
870 17-Jul
865 17-Jun
706 16-Aug

There are 9 units before Mar 2018, highest only 880psf,
Mar onwards, price cross 900 and hit 1k.
As for MOP, only HDB and the seller knows.
 

shin7829

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Whether or not is the "right time" to buy property now or not is very hard to debate unless one can predict the future.

Even if one compare old resale unit versus new. Is it really relevant to conclude the "right time"?
Some hunt places for own stay
Some prefer new place to stay
Thus how accurate is it for the "right time debate" between the old vs new condo thingy?


Discussion should be more useful when its done comparing the location, interior design, nearby ammenities,transportation accessibility

These info may help the ppl more

Ultimately ppl may not be listening if u tell them right or wrong time when they still wanna spend the money to buy anyway.
Because they will be doubtful even when u tell them is right or wrong time.
 

Merg91

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1 year after 2018 'cooling' & there is not even 5% off.

The 'debate' from the few doomsayers here is basically those few.
Outside from here the property market still continue to move on with hundreds new units sold every month.

Whether or not is the "right time" to buy property now or not is very hard to debate unless one can predict the future.

Even if one compare old resale unit versus new. Is it really relevant to conclude the "right time"?
Some hunt places for own stay
Some prefer new place to stay
Thus how accurate is it for the "right time debate" between the old vs new condo thingy?
 

Zze121

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For EC, not much choice, buyer either currently staying with parents or with a flat while this new purchase TOP takes around 3 years. Purchase timing? probably depends on buyer readiness.
Loan as many mentioned is a headache part where buyers need to secure a IPA before entering OTP. Of course this part can do later, before S&P.
And there are upfront and levy for 2nd timer to get ready. E-app and signing over dotted line is very fast, all these consideration must be done ahead. Like some said, new launch its comparable to wet market buy veggies, fast hand fast leg.


Consideration for me would be their plot land size, of course the location.
Their layout and uses of floor space for example the a/c ledge size, walkway, yard, utilities, window for toilet etc. Then comes their finishing, can't expect much from a EC with all the developer $ goes to the land for this round. Most season ppl prefer CDL finishing, to me is subjective. I may also look at CDL other projects landscaping. All this could end up be added plus point when selling.


Baseline, if you like the project, chances of others feel the same way is higher. But at this price, I really must love the project.
 

Passerboy

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1 year after 2018 'cooling' & there is not even 5% off.

The 'debate' from the few doomsayers here is basically those few.
Outside from here the property market still continue to move on with hundreds new units sold every month.

I feel the cooling measures were not well timed; it came alittle too late to fulfil its intended effect; given the high land bid prices and the pent up demand, it is no surprise the prices continue rising. The new baseline price seems to show for city fringe projects (RCR) are about 16xx psf, CCR about 25xx psf upwards and OCR about 13xx upwards. EC prices are 11xx psf upwards(waiting to see the price at Sumang Link EC).
 

Passerboy

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1 year after 2018 'cooling' & there is not even 5% off.

The 'debate' from the few doomsayers here is basically those few.
Outside from here the property market still continue to move on with hundreds new units sold every month.

https://www.todayonline.com/singapore/british-billionaire-dyson-buys-singapores-priciest-penthouse-0

just saw this. wow.
 

d5dude

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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?

Only if its a few months to MOP, if its like more than a year HDB will not easily allow.

Frivolous reasons can be anything, I promised my friend not to tell anyone but just know that its really frivolous. :s13:
 
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