OLA EC @ Anchorvale

Passerboy

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What is your opinion why tampines ec is more exp than ola?

Tampines EC site is in a stretch of road where there are many private condos like Tapestry, Santorini etc. And the land bid for this EC plot is higher than that of Tapestry- 578psf vs 565psf. Taking reference from Tapestry prices 12xxpsf-14xxpsf, it’s likely Tampines site avg psf to be closer to 11xxpsf given its EC status, but more ex than Ola who avg psf should be just about 1090psf (assuming close fit to Parc Canberra and Piermont Grand)
 

Clazav

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Oh I see. Nice analysis. And the fact that this is an EC in a condo area make it more attractive. Just like people will try to avoid buying a condo in an area with many ec (for example the vales area)

Tampines EC site is in a stretch of road where there are many private condos like Tapestry, Santorini etc. And the land bid for this EC plot is higher than that of Tapestry- 578psf vs 565psf. Taking reference from Tapestry prices 12xxpsf-14xxpsf, it’s likely Tampines site avg psf to be closer to 11xxpsf given its EC status, but more ex than Ola who avg psf should be just about 1090psf (assuming close fit to Parc Canberra and Piermont Grand)
 

Passerboy

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Oh I see. Nice analysis. And the fact that this is an EC in a condo area make it more attractive. Just like people will try to avoid buying a condo in an area with many ec (for example the vales area)

Wrong,I feel in this case it’s the opposite.

Tapestry would be a better buy, because the land bid of Tapestry is cheaper than that of the Tampinese EC, and its a condo w CDL developer status no less and it’s new, so at a diff of jus $50-100psf, the P.C. would be better, you don’t have to wait till MOP to sell, and a EC would always still have that “stigma” of being a EC compared to a full fledged condo.
 

Eraval

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I actually expect the Tampines EC to be same pricing as Ola, as someone else pointed out, the price cap of 1.8mil has to take into account that a couple with the ceiling of 16k can only loan 1.07mil. If first timer means must top up 800k in cash/CPF. If second timer with a current BTO, still must top up around 300k to 400k adding on a resale levy of 40k-50k.

Unless they avoid 5 bedders totally, but I doubt they will cause the developers Hoi Hup sold out their 5 bedders at Parc Canberra easily, max price was about 1.65mil. So thinking for this Tampines de should be max 1.75mil bah, so pricing can't be too far from Ola
 

Passerboy

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I actually expect the Tampines EC to be same pricing as Ola, as someone else pointed out, the price cap of 1.8mil has to take into account that a couple with the ceiling of 16k can only loan 1.07mil. If first timer means must top up 800k in cash/CPF. If second timer with a current BTO, still must top up around 300k to 400k adding on a resale levy of 40k-50k.

Unless they avoid 5 bedders totally, but I doubt they will cause the developers Hoi Hup sold out their 5 bedders at Parc Canberra easily, max price was about 1.65mil. So thinking for this Tampines de should be max 1.75mil bah, so pricing can't be too far from Ola

Ola EC 5bedrooms are huge! It’s 5bedroom Penthouse at 1717 sqf compared to Parc Canberra 1453sqft. Hoihup may keep the floor size of the 5bedroom at Tampines EC small but still have it though.

You rightly pointed that cos EC works on the MSR terms, the loan quantum is much lower.
 

Eraval

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Ola EC 5bedrooms are huge! It’s 5bedroom Penthouse at 1717 sqf compared to Parc Canberra 1453sqft. Hoihup may keep the floor size of the 5bedroom at Tampines EC small but still have it though.

You rightly pointed that cos EC works on the MSR terms, the loan quantum is much lower.



Ola 5 bedder well thought out mostly, its designed so that couples buying can expect their parents to move in together with them, thus making it easier to pay the price. Which also explains the facilities as well. I like it a lot but location is bad for me and I think I can't get it anyway cause sure kena snatched up quickly de

Resale it is :)
 

momoeagle

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You can say it's fair pricing considering how much they are bidding for the plot of land which is a fair point.

But to me as a buyer, I don't have to go along with it. If they want to bid high for the land, it does not mean we, as the consumers, should pick up the slack. We can choose to walk away.

Exactly. That's why I don't understand why agents keep saying "we have no choice but to pay higher and higher."

The choice is walk away from the craze.

Then again, being a poor man, I really have no choice but to walk away anyway.
 

momoeagle

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Actually ec not that unaffordable lah. My EC, I only down 200k cash and some cpf, the rest of the installations fully covered by cpf already. Based on assumption I need to work until at least 55.

Depends on quantum, which depends on unit size.

I don't want to squeeze into something smaller than a HDB 5 rm.
I care more about living space :(

If there are still new enough jumbo flats, I may even consider that. Problem now is beside a 5rm flat, is a 4rm flat, which is not possible to buy and merge into two unless HDB change their rules + neighbour willing to sell. It would have been so cool if it was allowed.
 

sgpropertyblog

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Exactly. That's why I don't understand why agents keep saying "we have no choice but to pay higher and higher."

The choice is walk away from the craze.

Then again, being a poor man, I really have no choice but to walk away anyway.

well its up to the buyer to buy or not to buy, you can choose to walk away and dun buy..but do you really think they prices will come down for the next launch that is in the same area?. from developer's point of view, they have no choice but to bid high in order to win the bid..especially those big guys.. when their land banks running low, they have to bid aggressively for the land..
 

drkcynic

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well its up to the buyer to buy or not to buy, you can choose to walk away and dun buy..but do you really think they prices will come down for the next launch that is in the same area?. from developer's point of view, they have no choice but to bid high in order to win the bid..especially those big guys.. when their land banks running low, they have to bid aggressively for the land..

But normal peasants can't tank the kind of prices they are bidding at. The wealthy will not buy this area. So who's going to buy? Buy already you will be stuck with an overly expensive unit.

For comparison's sake, the Vales EC and Bellewaters EC, both in the same cluster, were launched at an average of 780psf, due to record low land prices bidded by developer.

Consider that, and tell me you want to help the Ola developer tank their high land price.
 

sgpropertyblog

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But normal peasants can't tank the kind of prices they are bidding at. The wealthy will not buy this area. So who's going to buy? Buy already you will be stuck with an overly expensive unit.

For comparison's sake, the Vales EC and Bellewaters EC, both in the same cluster, were launched at an average of 780psf, due to record low land prices bidded by developer.

Consider that, and tell me you want to help the Ola developer tank their high land price.

you are right.. wealthy ones will not buy EC and also not eligible to buy oso.. those normal ones oso canot afford to buy.. its meant for the sandwich class as the entry price is more affordable..

look at Parc Canberra.. they are higher price compared to Visionaire and BS.. oso can achieve good sales volume on launch day... this shows that there are still people who are willing to buy due to watever reason they have.. one thing for sure is, we cant turn back the clock to 5-10years back where the prices are much lower compared to now.. so whether on you want to buy or not, its your choice ba.. no one will force you to buy if you dunwan to buy right?
 

Eraval

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you are right.. wealthy ones will not buy EC and also not eligible to buy oso.. those normal ones oso canot afford to buy.. its meant for the sandwich class as the entry price is more affordable..

look at Parc Canberra.. they are higher price compared to Visionaire and BS.. oso can achieve good sales volume on launch day... this shows that there are still people who are willing to buy due to watever reason they have.. one thing for sure is, we cant turn back the clock to 5-10years back where the prices are much lower compared to now.. so whether on you want to buy or not, its your choice ba.. no one will force you to buy if you dunwan to buy right?



From Parc Canberra sales, what I guess is families are choosing to squeeze together, meaning a new couple will stay with one set of parents together in there. Look at the take up rate of 4 and 5 bedders then look at the take up rate for 3 bedders. So if the couple's parents are retired but can sell their HDB to stay with the kids, then the price is not impossible liao



Location bad does not always means lose, location good also does not always means win.

https://www.propertyguru.com.sg/listing/22313260/for-sale-skyline-orchard-boulevard

Above listing selling for $2mil discount. Make what of it you will.
 

Passerboy

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From Parc Canberra sales, what I guess is families are choosing to squeeze together, meaning a new couple will stay with one set of parents together in there. Look at the take up rate of 4 and 5 bedders then look at the take up rate for 3 bedders. So if the couple's parents are retired but can sell their HDB to stay with the kids, then the price is not impossible liao



Location bad does not always means lose, location good also does not always means win.

https://www.propertyguru.com.sg/listing/22313260/for-sale-skyline-orchard-boulevard

Above listing selling for $2mil discount. Make what of it you will.

Parc Canberra is different. It’s location is good, since majority of ECs are in less central areas of the neighbourhood. In this case, Parc Canberra is in the heart of Canberra, where many amenities are springing up similar to Esparina Residence back in time.

If we compared to EC in less ideal locations w less ideal developers, then it may not be so true. What we see now are ECs by esteemed developers or are in rather good central areas.
 

momoeagle

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well its up to the buyer to buy or not to buy, you can choose to walk away and dun buy..but do you really think they prices will come down for the next launch that is in the same area?. from developer's point of view, they have no choice but to bid high in order to win the bid..especially those big guys.. when their land banks running low, they have to bid aggressively for the land..

Yes, so they charge higher, and Singapore being a land of rich people will have buyers out with their wallets ready to buy higher and higher and higher.

Because they have no other choice.

With this on-going mindset, of course those big guys will keep saying they have no choice but to bid aggressively for the land. After all, it is the buyers who are footing the bill for the aggressive land bid and are willing to do so, not the developers.

We already see the same effect in the buying of hand sanitizers and surgical masks.
People have "no choice" but to buy at outlandish prices because the importers got it at a higher price point.
 

momoeagle

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you are right.. wealthy ones will not buy EC and also not eligible to buy oso.. those normal ones oso canot afford to buy.. its meant for the sandwich class as the entry price is more affordable..

look at Parc Canberra.. they are higher price compared to Visionaire and BS.. oso can achieve good sales volume on launch day... this shows that there are still people who are willing to buy due to watever reason they have.. one thing for sure is, we cant turn back the clock to 5-10years back where the prices are much lower compared to now.. so whether on you want to buy or not, its your choice ba.. no one will force you to buy if you dunwan to buy right?

To me, it is no longer for the sandwich classes, given the closing up of prices between EC and PC. More for the upper upper upper middle class, almost near double the median household income.
 

Clazav

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The gap is still about 15-20% right? Like maybe you can compare tamp ec with treasure? One is 1100psf, the other is 1300psf. Ola, Parc Canberra, Piermont somehow dont have a comparable private condo to compare with in the same period of launch.


To me, it is no longer for the sandwich classes, given the closing up of prices between EC and PC. More for the upper upper upper middle class, almost near double the median household income.
 

momoeagle

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The gap is still about 15-20% right? Like maybe you can compare tamp ec with treasure? One is 1100psf, the other is 1300psf. Ola, Parc Canberra, Piermont somehow dont have a comparable private condo to compare with in the same period of launch.
Maybe see it in another way.

EC launch prices has increased by 7.5% p.a. over past 5 years, vs 3.5% p.a. in median household income.


4% difference p.a. over 5 years is a lot! EC affordability has already dropped substantially. And still, we have "no choice".
 

saggice

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absolutely right.

second timer topping up 300-400k cash with a big loan after, not sure if it makes sense esp if the property does not appreciates.

I actually expect the Tampines EC to be same pricing as Ola, as someone else pointed out, the price cap of 1.8mil has to take into account that a couple with the ceiling of 16k can only loan 1.07mil. If first timer means must top up 800k in cash/CPF. If second timer with a current BTO, still must top up around 300k to 400k adding on a resale levy of 40k-50k.

Unless they avoid 5 bedders totally, but I doubt they will cause the developers Hoi Hup sold out their 5 bedders at Parc Canberra easily, max price was about 1.65mil. So thinking for this Tampines de should be max 1.75mil bah, so pricing can't be too far from Ola
 
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