New EC at Sumang Walk

annetyu

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Honestly, you are not wrong in comparing the above example.
SK resale condo 10xxpsf compared to sumang EC at 1130psf. Sounds like a no brainer.
Take for instance, let’s go back to terrasse, the project u highly recommended and is transacting only at 10xxpsf to 11xxpsf.
In any aspect, terrasse seems to be a much better buy than sumang EC.
Terrasse is also near the upcoming mrt.

But do u notice that every time when u bring up terrasse, I will counter your argument not because your recommendation is flawed, but I’m also looking at the transaction volume that took place for terrasse.
What worries me is for the past 7 months, terrasse only see 4 transaction. This speaks clearly the lack of demand there even though the new cross island line announcement was made quite some times back.
On the other hand, what shocked me is prive is transacting 128 units in 2018 (average 9xx to 1kpsf) and is one of EC with highest transaction volume. This also tells me there’s demand in Punggol.

All in all, what I want to say is sometimes buying property does not always have a logical explanation behind.
If there’s poor buying interest for that district or area, no matter how cheap it is, there is still no demand.
That is why u will notice that I always like to look at transaction volume as one of the guiding principle when buying property because it will give me hints whether I will have an easy or hard time to sell my unit in future.

Your are right, "sometimes buying property does not always have a logical explanation behind."

Transaction volume has always been lower as property ages, no surprises. Only new launches, just topped, MOPed or beside mrt development will see high volume.

Terrassee, luxurie and the likes are my "hidden gems". Up to any to heed my advice. I am kind enough to share. Of course I keep a couple of secret gems only for myself..
 

Passerboy

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Honestly, you are not wrong in comparing the above example.
SK resale condo 10xxpsf compared to sumang EC at 1130psf. Sounds like a no brainer.
Take for instance, let’s go back to terrasse, the project u highly recommended and is transacting only at 10xxpsf to 11xxpsf.
In any aspect, terrasse seems to be a much better buy than sumang EC.
Terrasse is also near the upcoming mrt.

But do u notice that every time when u bring up terrasse, I will counter your argument not because your recommendation is flawed, but I’m also looking at the transaction volume that took place for terrasse.
What worries me is for the past 7 months, terrasse only see 4 transaction. This speaks clearly the lack of demand there even though the new cross island line announcement was made some times back.
On the other hand, what shocked me is prive is transacting 128 units in 2018 (average 9xx to 1kpsf) and is one of EC with highest transaction volume. This also tells me there’s demand in Punggol.

All in all, what I want to say is sometimes buying property does not always have a logical explanation behind.
If there’s poor buying interest for that district or area, no matter how cheap it is, there is still no demand.
That is why u will notice that I always like to look at transaction volume as one of the guiding principle when buying property because it will give me hints whether I will have an easy or hard time to sell my unit in future.

Terrase location is quite ulu (it is more suitable for someone who wants a quiet enclave), on the other hand central Punggol is buzzing with more activities. Demand in Punggol area compared to other outskirts seems higher, I took a hitch ride that day and an agent who was staying in woodlands told me that Punggol EC is expected to thrive; cos many newly weds favour that area.
 

annetyu

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That's an 'experience'.
And you didn't pick up any underpriced units?

I still have 2 good sized units after offloading kovan. 1 for stay, 1 for rental that is giving good monthly income. I am not really looking for anymore.

How about you? Did you pick up any?

The rest of my money I keep in gold and equities mainly. Today so busy with nonsense here, I missed the US market open news. Thankfully it is still on uptrend, tmr looking to offload 1 share for 15% gain after 3 months holding...
 

NiShiZhu

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Terrase location is quite ulu (it is more suitable for someone who wants a quiet enclave), on the other hand central Punggol is buzzing with more activities. Demand in Punggol area compared to other outskirts seems higher, I took a hitch ride that day and an agent who was staying in woodlands told me that Punggol EC is expected to thrive; cos many newly weds favour that area.

Like what I always said, property demand is not just about one person’s logical point of view or recommendation, it is about the mass/ground sentiments that drives the demand for certain district/area.
 

annetyu

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Terrase location is quite ulu (it is more suitable for someone who wants a quiet enclave), on the other hand central Punggol is buzzing with more activities. Demand in Punggol area compared to other outskirts seems higher, I took a hitch ride that day and an agent who was staying in woodlands told me that Punggol EC is expected to thrive; cos many newly weds favour that area.

Yes punggol is very lively with lots of amenities. However, I feel it is overcrowded and a little too far away from cbd. All depends on individual needs and wants... and buying power.

I suppose you dislike affinity and garden then?
 

Passerboy

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Yes punggol is very lively with lots of amenities. However, I feel it is overcrowded and a little too far away from cbd. All depends on individual needs and wants... and buying power.

I suppose you dislike affinity and garden then?

I prefer somewhere more lively and central. But I agree that market prices depends on mass sentiments. It also depends on one’s affordability.
 

NiShiZhu

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Yes punggol is very lively with lots of amenities. However, I feel it is overcrowded and a little too far away from cbd. All depends on individual needs and wants... and buying power.

I suppose you dislike affinity and garden then?

I think yesterday he mentioned he is looking at Parc esta. Correct me if I’m wrong.
 

NiShiZhu

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Yes bro. But if affordability wasnt a concern, I would have considered wallich residences. ok just a dream :)

If money not a concern, I will go for Kallang riverside penthouse anytime haha.
Well, I Guess I’m not as greedy as you, 9mil only.
Yours is 75mil for wallich penthouse. Lol
 

LouisSaha

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I realized a few EC all come with 3 bedders and above...
How come ar? Like hundred palms, this piermont grand also....
 

annetyu

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I think yesterday he mentioned he is looking at Parc esta. Correct me if I’m wrong.

He is looking at anything as long as it is a new launch from the way I see. No offence intended. I respect and believe that he is a genuine buyer.
 

Passerboy

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If money not a concern, I will go for Kallang riverside penthouse anytime haha.
Well, I Guess I’m not as greedy as you, 9mil only.
Yours is 75mil for wallich penthouse. Lol

Haha Kallang riverside is chio too! A high floor unit will overlook Kallang riverfront.
 

Passerboy

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I realized a few EC all come with 3 bedders and above...
How come ar? Like hundred palms, this piermont grand also....

I think it is to appeal more to families, as EC are for own home stay than investment or rental; it may not be ideal for a 1 bedroom configuration as a family of 3 will not be able to stay comfortably in that configuration.
But the 3 bedroom at Piermont grand starts at 840sqf which is the smaller side of a 3 bedroom compared to the usual 904sqf 3 bedroom confirmguration.
 

annetyu

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I think it is to appeal more to families, as EC are for own home stay than investment or rental; it may not be ideal for a 1 bedroom configuration as a family of 3 will not be able to stay comfortably in that configuration.
But the 3 bedroom at Piermont grand starts at 840sqf which is the smaller side of a 3 bedroom compared to the usual 904sqf 3 bedroom confirmguration.

The 840sqft represents 30% of units. So at least 30% sell-out is a given.
 

LouisSaha

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I think it is to appeal more to families, as EC are for own home stay than investment or rental; it may not be ideal for a 1 bedroom configuration as a family of 3 will not be able to stay comfortably in that configuration.
But the 3 bedroom at Piermont grand starts at 840sqf which is the smaller side of a 3 bedroom compared to the usual 904sqf 3 bedroom confirmguration.

Maybe for those young adults who feels 2 bedder is enough leh? Like small family. =:p
 

annetyu

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Maybe for those young adults who feels 2 bedder is enough leh? Like small family. =:p

I think one of the requirements of ec is be married and apply as couple.

If have kids, the bare minimum will be this 840sqft 3 bedder I feel. 1 bedroom for parent, 1 for kid(s). The last one needs to be a study or playroom or storeroom considering the bedrooms can only fit one bed and for sleeping only.

I can see some are feeling the squeeze with the pricing. That is expected.
 
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