New EC at Sumang Walk

[Passerboy]

And some believe the developers are obliged to sell to them the Lexus -at- Toyota - price cheaper.

I think the issue is whether the developer will transfer the lower cost over to the buyers, which might not be the case, and the psf diff in the land bid is less than $50 psf, even if they can do so, there are other areas of savings (such as finishing of product) which they could save on, thus ppl usually prefer a reputable developer.

If there is a demand to sell at $1100 psf why would the developer sell at $900 psf even if he bought the land cheaper. And there is limited EC in the market currently, a lot of first timers are also looking to buy an EC in current market instead of BTO which leads to pent up demand.

That said, i am curious to know the launch sales for piermont grand, social media seems to paint a rosy picture of snaky long queues.

 

[batdow]

selling like hot cakes in this hot weather now

 

[Merg91]

Precisely.
The pain threshold must be reached.

Don't be like the kumgong Hundreds Palm developer who underpriced its golden eggs.

If there is a demand to sell at $1100 psf why would the developer sell at $900 psf even if he bought the land cheaper. And there is limited EC in the market currently, a lot of first timers are also looking to buy an EC in current market instead of BTO which leads to pent up demand.

 

[Passerboy]

Precisely.
The pain threshold must be reached.

Don't be like the kumgong Hundreds Palm developer who underpriced its golden eggs.

That’s why the golden eggs were sold out on launch day! That said I am really envious of my colleague who got one of the golden eggs. Now there are no more hens laying golden eggs haha.

 

[endlssorrow]

I miss this egg and river cove one

 

[momoeagle]

Precisely.
The pain threshold must be reached.

Don't be like the kumgong Hundreds Palm developer who underpriced its golden eggs.

FOMO is among the best selling strategy

 

[annetyu]

In other words, developers are taking most of us as suckers who will pay higher and higher, so they dare to bid higher and higher.

If the next one is even higher, then slapping on resale levy (almost $50 psf), it will be the same as a private condo already. And have to consider MSR vs TDSR for a same psf condo at a not as good location (anchorvale crescent vs riverfront residences for example).

Hmmm

Experts have explained that no one can understand human psychology. The winners are those who do their own research and buy the right project.

If property investing is so easy, just buy any new launch anytime and sure make money how nice.

Be careful, if I were the one who made your comment, I would be lashed out so badly and accused of ‘talking down’ the market

 

[ChillEd]

That time, 2 years ago, this forum ppl keep saying 100 palms was way overpriced at $850($100 above all other ECs), facing hospital, jam at yck road, far from mrt (the new mrt line not announced yet), nearby relslae pc selling low price, how can ppl below 14k income can afford 1mil+ EC, 9 out of 10 saying not going for ballot (then sold out in one day?!???) etc etc etc...

2 years later, wth 100 palms suddenly under priced? Will this happen again in 2, 3 years?

still remembered ppl say all those yishun EC at $750 overpriced, before 100 palms sold out...

And many said rivercove sold at $950 is crazy...

So what’s now?

Precisely.
The pain threshold must be reached.

Don't be like the kumgong Hundreds Palm developer who underpriced its golden eggs.

 

[Zze121]

At diff point of time, pricing are diff.
Dev use to bid 300+ppr for EC land before this PG and other 4 new EC plots.

Thus, today, if yr HDB just fulfill MOP, your new launch options are just this few enblock, mixdev projects in D19.

That's why many ppl suggest go for resale.

There is no one rule apply for all situations.

Enblock sales actually jack up new launch prices alot, it also affect EC land bidding price.

 

[momoeagle]

That time, 2 years ago, this forum ppl keep saying 100 palms was way overpriced at $850($100 above all other ECs), facing hospital, jam at yck road, far from mrt (the new mrt line not announced yet), nearby relslae pc selling low price, how can ppl below 14k income can afford 1mil+ EC, 9 out of 10 saying not going for ballot (then sold out in one day?!???) etc etc etc...

2 years later, wth 100 palms suddenly under priced? Will this happen again in 2, 3 years?

still remembered ppl say all those yishun EC at $750 overpriced, before 100 palms sold out...

And many said rivercove sold at $950 is crazy...

So what’s now?

You know, the same actually happened to comments on stock pricing in the lead up to 2007. Many investors tend to forget cycles are multi years long.

Fear of missing the boat got more and more investors on board. And the common statement will also be "this time it is different."

Of course, it can also be said that the market can irrational longer than we can remain solvent.

It might really be different for the property market, I won't know. I only know the stock market and dont know the property market

 

[momoeagle]

Experts have explained that no one can understand human psychology. The winners are those who do their own research and buy the right project.

If property investing is so easy, just buy any new launch anytime and sure make money how nice.

Be careful, if I were the one who made your comment, I would be lashed out so badly and accused of ‘talking down’ the market

Well, I saw a report somewhere that based on URA statistics currently, almost 80% of PC new launches have less than 30% of units sold.

And another report also mentioned that one way developers could do to push up sales numbers at the new launches is to somehow issue options to purchase during the launch, let it lapse, and let it become a return unit. Sales numbers will look very very nice then.

I am still learning.

 

[momoeagle]

Got it at 1.28mil 7th floor pool facing at 1135psf. Really hot cakes. All 3 br premium gone.

Congratulations!

 

[Path-Finder]

Still hav quota for 2nd timer? Or all pang kang liao?

Got it at 1.28mil 7th floor pool facing at 1135psf. Really hot cakes. All 3 br premium gone.

 

[sinicker]

I texted my agent at 7am said not going. Congrats to those who bought their units!

 

[Merg91]

Any ipo discussions sure to attract flies which 'scrutinise' every bit of the data with suspicion.
See the recent Astrea or Temasek bonds thread in Money forum.
I am a bit richer by not listening.

And property forum is no different.

I only know the stock market and dont know the property market

 

[parodot]

Piermont Grand doesn’t seem to generate much excitement. Not much updates about the sales.

 

[momoeagle]

Any ipo discussions sure to attract flies which 'scrutinise' every bit of the data with suspicion.
See the recent Astrea or Temasek bonds thread in Money forum.
I am a bit richer by not listening.

And property forum is no different.

Exactly. I made quite a fair bit of $ in the stock market by not following the herd, that's why have some spare cash to even think about ECs.

But currently, to me, the herd (including the media) appears to saying that ECs are very popular

 

[Merg91]

Missed the ipo still can buy the same stock in the market at slightly higher (mostly) the next day.

Missed many recent cheaper ECs = pay a lotvmore for the same EC resale later.

But currently, to me, the herd (including the media) appears to saying that ECs are very popular

 

[batdow]

Got it at 1.28mil 7th floor pool facing at 1135psf. Really hot cakes. All 3 br premium gone.

congrats! really huat liao.

 

[momoeagle]

Missed the ipo still can buy the same stock in the market the next day.

Missed many recent cheaper ECs = pay more for the same EC resale later.

IPO are seldom cheap.

No need to be scared of paying higher for property. Same goes for stocks.