New EC at Sumang Walk

Hello@90

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Not specifically keen on Tampines but am looking at EC. Which EC makes more sense to buy then?

If you have no confidence that santorini will appreciate to at least $1,100psf, what makes you think the ave 10 EC can earn $ if you buy?

Q Bay and santorini are pretty new and should be on your list if you are keen on tampines. Why pay $1,100+psf for EC at non-EC prices? Unless the grants given by government is so attractive, the choice is clear.

Once an EC, always an EC. EC is a class below PC, thats what many think. I view EC buyers as only marginally better off than HDB owners.
 

holasingapura

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Not specifically keen on Tampines but am looking at EC. Which EC makes more sense to buy then?

If you ask me, none makes senses, because you can get very new resales for same or less at all of the current new launch EC locations.

The only reason why EC can sell is because there are likewise overpriced new launches.

My question to you then, which you don't have to answer, why must you buy an EC?
 

Hello@90

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Hmm, cause first owner and its new, more selection of the units such as facing layout etc. Resale if not the first owner likely profit would have been priced in already, worst off position than your neighbour.

If you ask me, none makes senses, because you can get very new resales for same or less at all of the current new launch EC locations.

The only reason why EC can sell is because there are likewise overpriced new launches.

My question to you then, which you don't have to answer, why must you buy an EC?
 

holasingapura

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Hmm, cause first owner and its new, more selection of the units such as facing layout etc. Resale if not the first owner likely profit would have been priced in already, worst off position than your neighbour.

Thanks. We now understand better why highly priced new launches can sell. Good to hear your perspective.

What I can say is that if this tamp ec appreciates to $1,200psf, santorini/ qbay should at least go up to $1,100psf too. After a few more years, this tamp ec and santorini/qbay will be same price because lease difference becomes negligible.

If you main objective is to buy new, choose units and flip, you should consider balloting for BTO instead...

I'll leave further analysis for the experts and gurus here.
 

iguysphone

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Hmm, cause first owner and its new, more selection of the units such as facing layout etc. Resale if not the first owner likely profit would have been priced in already, worst off position than your neighbour.

Do check the surrounding condos that is going to TOP also. See if it is worth it. If the EC PSF is similar to those going to TOP, going for the EC doesnt make sense.

Being an EC doesnt mean it is value buy. It may be a 'value trap'.

2 cents!
 

sgpropertyblog

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Do check the surrounding condos that is going to TOP also. See if it is worth it. If the EC PSF is similar to those going to TOP, going for the EC doesnt make sense.

Being an EC doesnt mean it is value buy. It may be a 'value trap'.

2 cents!

I believe those gonna TOP condo nearby, the prices would be higher than the new upcoming EC.. i could be wrong , but i reckon this dev would price their products attractively if they wana move some units here.. make no sense they price high but canot sell any units..especially in this market sentiment..
 

shadowex

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I believe those gonna TOP condo nearby, the prices would be higher than the new upcoming EC.. i could be wrong , but i reckon this dev would price their products attractively if they wana move some units here.. make no sense they price high but canot sell any units..especially in this market sentiment..

Prices higher but marginally only I believe? At the end of the day the difference between the P & E in front of C has quite a big influence. After 5 years MOP but buyers still know that it's an EC. Design and finish also slightly different I would say.
 

kiatme

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Buy for the need, not for the greed.
If Qbay/arc/waterview etc increased its PSF in the future, where are you going to stay next ? Other properties will all increase in value as well.

I don't know whether 1.1 - 1.2k PSF will be the peak or not for ECs.. if you tell people 2 years ago EC will be priced at 1.1/1.2k psf, you will get a slap in the face, but the fact that it is happening.. no idea what will happen in the future

But my personal opinion is that this is the peak already for EC, not many first timers can afford to buy ECs unless government do something about it like change the MSR, to qualify for full loan you will need like at least 13-14k (CPF income), people who are on commission/self employed will have problems loaning, and not to mention the downpayment part.
 

Hello@90

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I think as long as private condo in the ulu region continue to be priced at 1300-1500psf, EC (1100psf) will remain competitive for upgraders if people want to buy new launches. RCR is already at 1700-1900psf. I guess wanting a new house or being the first owner is still very much in everyone’s mind these days. Compared to getting a resale, the feeling is just different. Unless I buy to rent, then that’s different.

Buy for the need, not for the greed.
If Qbay/arc/waterview etc increased its PSF in the future, where are you going to stay next ? Other properties will all increase in value as well.

I don't know whether 1.1 - 1.2k PSF will be the peak or not for ECs.. if you tell people 2 years ago EC will be priced at 1.1/1.2k psf, you will get a slap in the face, but the fact that it is happening.. no idea what will happen in the future

But my personal opinion is that this is the peak already for EC, not many first timers can afford to buy ECs unless government do something about it like change the MSR, to qualify for full loan you will need like at least 13-14k (CPF income), people who are on commission/self employed will have problems loaning, and not to mention the downpayment part.
 

sgpropertyblog

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Prices higher but marginally only I believe? At the end of the day the difference between the P & E in front of C has quite a big influence. After 5 years MOP but buyers still know that it's an EC. Design and finish also slightly different I would say.

yes, even after 10-20 yrs, an EC will always be an EC.. finishing wise, will pretty much depend on the developer, not all EC is below par as compared to condo.. for example, Esparina Residences finishing is quite good.. oni thing is they dont hv basement carpark.. others like china developer, erm, no comment la.. but for the fraction of the price that you pay as compared to private condo, its pretty justifiable rite? thats why the newer ECs are slightly better in term of quality as compared to older EC cos of the increase in pricing..
 

sgpropertyblog

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Buy for the need, not for the greed.
If Qbay/arc/waterview etc increased its PSF in the future, where are you going to stay next ? Other properties will all increase in value as well.

I don't know whether 1.1 - 1.2k PSF will be the peak or not for ECs.. if you tell people 2 years ago EC will be priced at 1.1/1.2k psf, you will get a slap in the face, but the fact that it is happening.. no idea what will happen in the future

But my personal opinion is that this is the peak already for EC, not many first timers can afford to buy ECs unless government do something about it like change the MSR, to qualify for full loan you will need like at least 13-14k (CPF income), people who are on commission/self employed will have problems loaning, and not to mention the downpayment part.


Yes correct, with the increase in pricing, government has increase the income ceiling too! now is at $16k cap.. otherwise all the units no one can afford unless they are cash / cpf rich ..
 

shadowex

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yes, even after 10-20 yrs, an EC will always be an EC.. finishing wise, will pretty much depend on the developer, not all EC is below par as compared to condo.. for example, Esparina Residences finishing is quite good.. oni thing is they dont hv basement carpark.. others like china developer, erm, no comment la.. but for the fraction of the price that you pay as compared to private condo, its pretty justifiable rite? thats why the newer ECs are slightly better in term of quality as compared to older EC cos of the increase in pricing..

Not really a fraction of the price though. I would say it's a marginally lower price but at a worse location. I agree quality of EC has improved but there is a difference in quality from PC. So I guess whether or not it's justifiable is up to the buyer. How much is the "difference" worth to them
 

sgpropertyblog

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Not really a fraction of the price though. I would say it's a marginally lower price but at a worse location. I agree quality of EC has improved but there is a difference in quality from PC. So I guess whether or not it's justifiable is up to the buyer. How much is the "difference" worth to them

Yup ultimately is the buyer that make tat call.. so its up to them .. location wise, yes its at not so ideal location.. if its good location, government oso wont release the land as EC, they would rather save it for PC.. oni a few ECs that are walking distance to MRT, and those as you know, prices definately not cheap.. Quality wise, gotta depend on developer lioa..
 

sgpropertyblog

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Can I check. Does PG gives discount to buyer?

Nope, developer is not giving any discounts for this project as its selling very well.. so far almost 66% sold ady.. and is still selling everyday, in fact today itself 2 units is being reserved pending documentation. im from the dev sales team there.. let me know if you need further info
 

Hello@90

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Why suddenly selling so well lehx? Better than Parc Canberra?

Nope, developer is not giving any discounts for this project as its selling very well.. so far almost 66% sold ady.. and is still selling everyday, in fact today itself 2 units is being reserved pending documentation. im from the dev sales team there.. let me know if you need further info
 

sgpropertyblog

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Why suddenly selling so well lehx? Better than Parc Canberra?

All this while PG selling not bad wan leh.. in fact, its one of the Top 10 best selling projects during **..

anyway, prices will be increasing soon wef 20th July.. so those that are still considering, maybe you wana give it another thought before 20th..
 

sgpropertyblog

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Last 2 days of current pricing.. prices will be adjusted upwards wef 20th July onwards.. same goes for Tapestry.. 6 units (And counting )sold today..
 
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