What is your opinion why tampines ec is more exp than ola?
I agree. I believe Tampines EC should be more expensive than OLa.
I agree. I believe Tampines EC should be more expensive than OLa.
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)
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)
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.
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.
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.
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..
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?
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.
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..
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.
Maybe see it in another way.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.
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