New EC at Sumang Walk

dleodleo

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sory dun get u.. Treasure Trove is beside MRT, so is Luxurie @ Sengkang.. if u look at the prices, is about the same.. ignore the smallest n biggest units, just take the typical 3 bdrms prices as comparison.. their psf is about the same $1100 - 1200 psf.. so both luxurie n treasure trove oso same resale pricing now rite? I take Treasure Trove as example because that the nearest resale condo to Piermont.. and comparing the location, is definitely much better than Piermont, but yet why I still touch my heart and want to buy Piermont ???

Actually what you say is true. As a second timer myself I will need to pay $45,000 resale levy if I buy Piermont. By the time it TOP, my HDB price may drop further. It may be better to consider buying Luxurie if the psf $ is the same right? Luxurie is only 2-3 years old and opposite SK MRT.

I'm thinking of upgrading but the high psf and resale levy puts me off and also got phobia after reading the pasir gudang thing in an article. I'll wait for the EC in SK one and see how. I think I wait and wait wait until no need to buy liao. PSf $ will get higher and higher :s13::s13::s13:.
 

Passerboy

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Have you been to your friends' private apartments?
Many older ones or higher quantum new ones are of decent in sizes too.

And why do many hdb people chiong more central area if they can?

It is a lifestyle/ convenience + potential gain, just like many prefer cars (BMW, Mercedes some more) than cheapest Toyota despite they serve the same function.

Most private properties have less restrictions, most are profitable & higher quantum in profit when sold.

I think older condos (more than 10 years) are really much bigger in size. And I have to agree a more central location is ideal w a confluence of amenities (I stay at Bishan near the mrt haha)
 

annetyu

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Actually what you say is true. As a second timer myself I will need to pay $45,000 resale levy if I buy Piermont. By the time it TOP, my HDB price may drop further. It may be better to consider buying Luxurie if the psf $ is the same right? Luxurie is only 2-3 years old and opposite SK MRT.

I'm thinking of upgrading but the high psf and resale levy puts me off and also got phobia after reading the pasir gudang thing in an article. I'll wait for the EC in SK one and see how. I think I wait and wait wait until no need to buy liao. PSf $ will get higher and higher :s13::s13::s13:.

Exactly, many better options for you, a second timer, than PG.

Wait for these 1-2 years is fine. Prices are not going to go anywhere. More downsides than up in fact. Misconception psf is guaranteed to up and up.
 

annetyu

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“The tender for an EC site at Canberra Link also closed on the same day (July 3), and it saw MCC Land submitting the top bid of $233.89 million. This translates to about $566 psf ppr on the maximum GFA of 413,194 sq ft.”

Two EC will be launch at Canberra in the next two years.

I think this is still ongoing right now. Right now there's a huge demand coming from investors, given the catchment of potential tenants from nearby areas.

Fundamentally, you are already wrong. EC is unlikely to be for investment. EC buyers only have 1 property on hand just like buying any public housing.

What is evolving at Canberra? Anything I am missing out other than the MRT station?
 

dleodleo

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Exactly, many better options for you, a second timer, than PG.

Wait for these 1-2 years is fine. Prices are not going to go anywhere. More downsides than up in fact. Misconception psf is guaranteed to up and up.

OIC. Thanks. I'll wait then. :)
 

Passerboy

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Exactly, many better options for you, a second timer, than PG.

Wait for these 1-2 years is fine. Prices are not going to go anywhere. More downsides than up in fact. Misconception psf is guaranteed to up and up.

Just some input from a first person pov, I waited and waited in anticipation for prices to come down since 2017 and I totally regretted if you ask me. At many juncture, I had set sight on certain projects, yet I have always held back at the last minute haha, and prices gone north since for those I saw.

I can only say noone knows for sure, it’s akin to the stock market I sold ComfortDelGro shares at $2.45 thinking that grab will mobilize the market and its shares will go south, today the shares is about $2.8. No one knows. This is life Haha.
 

annetyu

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OIC. Thanks. I'll wait then. :)

No problem. Thank me later.

Bear in mind, I said wait for 1-2 years. Don't wait for 7 years and come back cursing at me. That said, property is not guaranteed to rise in 7 years too.. idk, no one knows.
 

birmingham123

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As you said, treasure is at much better location, how to compare? Shows that you can get much better resale condo at same price. If you want piermont location, can try comparing with prive or the numerous sengkang resales (aside from lafiesta and luxurie). YOu can easily find $1,000psf there..

Imagine when ecopolitan, waterbay, amore, waterwoods, terrace ECs MOP, the floodgates are going to open for cheap punggol resales. Open your eyes everyone.

If everyone go for resale, resale price will go up too.. supply and demand.. if today no demand, developer will not dare bid at higher price lah.
 

birmingham123

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Exactly my thoughts. Nowadays CEO and president also stay in HDB, no need to be shy. Personally, I'd rather boast to people that I stay in holland / tanjong pagar (HDB) than punggol ec. Likewise, in terms of convenience.

Expecting a number of grannies in PG. Hope they have outdoor workout facilities suitable for them! :s13:

I believe staying in condo or EC is more about the lifestyle. Bringing kids to swimming pool is just a lift away. Basement carpark much more convenient.

Location is subjective. Not everyone work in town anyway..
 

annetyu

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If everyone go for resale, resale price will go up too.. supply and demand.. if today no demand, developer will not dare bid at higher price lah.

Thing is few are going for resales. Everyone loves new launch, because of various reasons, some because they don't know how to do research and simply look at adverts on the saturday newspapers.

Half of the new launches are from previous en bloc sales. Obviously there will be demand from price insensitive people who stuck the windfall. They provided the support for these high new launch prices, and others come to join in panicking on the basis that there are transactions at the high psf prices. Developers are actually smart in a way to target en bloc land, they created they own pool of demand. well done to the developers but unfortunately that demand is drying up faster than expected.

There are many more new launches in the second half, in case all have forgotten. :)
 

annetyu

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Just some input from a first person pov, I waited and waited in anticipation for prices to come down since 2017 and I totally regretted if you ask me. At many juncture, I had set sight on certain projects, yet I have always held back at the last minute haha, and prices gone north since for those I saw.

I can only say noone knows for sure, it’s akin to the stock market I sold ComfortDelGro shares at $2.45 thinking that grab will mobilize the market and its shares will go south, today the shares is about $2.8. No one knows. This is life Haha.

From 2013 to 2017, 5 straight years, prices were flat. You only have yourself to blame for waiting so long. You well know property prices will appreciate in the long run (for now). But i definitely don't support the 30-40% spike in new launch prices. There are numerous resales still available for you MR passer.
 

SBC

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Thing is few are going for resales. Everyone loves new launch, because of various reasons, some because they don't know how to do research and simply look at adverts on the saturday newspapers.

Half of the new launches are from previous en bloc sales. Obviously there will be demand from price insensitive people who stuck the windfall. They provided the support for these high new launch prices, and others come to join in panicking on the basis that there are transactions at the high psf prices. Developers are actually smart in a way to target en bloc land, they created they own pool of demand. well done to the developers but unfortunately that demand is drying up faster than expected.

There are many more new launches in the second half, in case all have forgotten. :)

Many Gong Gong buyers had $ in such way while too knowledgeable buyers are still waiting at the sidelines.
 

annetyu

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I believe staying in condo or EC is more about the lifestyle. Bringing kids to swimming pool is just a lift away.

Exactly why I moved from terrace to condo. But I got bored in half a year. My kids stopped swimming regularly after a year. Of course, still good to stay in condo.
 

Passerboy

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From 2013 to 2017, 5 straight years, prices were flat. You only have yourself to blame for waiting so long. You well know property prices will appreciate in the long run (for now). But i definitely don't support the 30-40% spike in new launch prices. There are numerous resales still available for you MR passer.

I do agree it’s time and space concern.
I do acknowledge your inputs and respect your opinion, however at times I do think you can be alittle kinder in your comments! Cheers!
 

kiatme

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If you can afford to wait, then wait. The recent closed tenders are still very expensive. It's best to do your own research, if your plan is to move to a new condo / upgrade / second property etc, decide for yourself.

Just see the land prices :
(for example the clementi ave1 is about 788+psf vs park clemantis, former park west 850+psf)

Or

Sims drive (740psf) vs sims urban (687psf, when sold at peak for new sales was nearly 1.6kpsf)

The trend for the new land bids are getting cheaper, but you have to take many things into consideration.
1: A lot of the existing launches are moving fast, riverfront cross 1k sales at that location, even treasure who people are laughing at, are selling 50-70 units every month, a lot of the GLS sales have crossed 50% sales and they're only a year old (they are going to top in 4 years). What does this mean ? When they're about nearly sold, the developers will start to bid for land again.
2: Just see the recent land bid developers, a lot of major players didn't bid, 2-3 years later what do you think will happen ?
3: government recently announced to focus more on town areas, what does this mean? Will there be land tenders for OCR / RCR ? With one - two land tender every one-two years on OCR/RCR region, do you think the developers who won the tender will sell cheap ? (Even if they won at a lower price) - they might just put one stack at super cheap price but charge 20% more for premium stacks too, has happened before.
4: even if they sell cheap, how many people do you think are waiting ? You want to test your luck in balloting to get the premium stacks that you want, or get a west sun face main road unit in a cheaper project.

By then you would have wasted 2-3 years of your time. If you're just a simple family house guy, then it would be better to study what is available in the market now and get it (resale, new launch, whatever).
 

sgpropertyblog

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As you said, treasure is at much better location, how to compare? Shows that you can get much better resale condo at same price. If you want piermont location, can try comparing with prive or the numerous sengkang resales (aside from lafiesta and luxurie). YOu can easily find $1,000psf there..

Imagine when ecopolitan, waterbay, amore, waterwoods, terrace ECs MOP, the floodgates are going to open for cheap punggol resales. Open your eyes everyone.


ahh.. get wat u mean now.. yes, there are many good location but yet prices like pasar malam.. ie Rivervale Crest / Compass Heights etc.. but selling below $1000 psf.. why don't buyers buy there??


"Imagine when ecopolitan, waterbay, amore, waterwoods, terrace ECs MOP, the floodgates are going to open for cheap punggol resales. Open your eyes everyone."

bingo!!! in next few years to come, many EC MOP-ing soon, but when u buy Piermont, you wont have this 'competition' when MOP, cos its the only EC for this year.. your competitors are probably Canberra new EC / Anchorvale new EC tat will MOP approx. 1-1.5yrs after Piermont ..
 

sgpropertyblog

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Fundamentally, you are already wrong. EC is unlikely to be for investment. EC buyers only have 1 property on hand just like buying any public housing.

What is evolving at Canberra? Anything I am missing out other than the MRT station?


Yes, wat potential does Canberra EC has over Piermont? but both are at the same pricing .. which one would u go for? but having said that, those grew up in Canberra or parents staying there, ultimately will go for it.. no right, no wrong..
 

Eraval

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Have you been to your friends' private apartments?
Many older ones or higher quantum new ones are of decent in sizes too.

And why do many hdb people chiong more central area if they can?

It is a lifestyle/ convenience + potential gain, just like many prefer cars (BMW, Mercedes some more) than cheapest Toyota despite they serve the same function.

Most private properties have less restrictions, most are profitable & higher quantum in profit when sold.


I'm talking about the small size in PG for a 3 bedder compared to a usual 4 room HDB, essentially the same thing ( but in this case the PG unit is smaller), you pay a premium to stay in a 'condo' but how often does one use the condo facilities? You do have to sleep in your room everyday though so overall, the quality of living is lower mah, but people will still do it, I know quite a few families that do this, family of 5 or 6 living in 900 sqft when a HDB provides 990 sqft, they do it for the prestige of living in a condo, thats it


Other condos no need talk, especially the older ones, I've a friend, his family owns the whole level of an apartment block right in Bugis, everyone has their own space. It's different.
 
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