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Executive Condo (EC) bubble?

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Old 18-02-2019, 08:46 PM   #61
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Look at the resale price around that location first. I don't think Punggol has many private resales selling above $1,100 psf, less Watertown and the couple ones very near MRT of course. Most resales are still below $1,000psf. If you wish to pay $1,100psf for EC there then you are not being rationale at all.
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Old 18-02-2019, 09:18 PM   #62
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Look at the resale price around that location first. I don't think Punggol has many private resales selling above $1,100 psf, less Watertown and the couple ones very near MRT of course. Most resales are still below $1,000psf. If you wish to pay $1,100psf for EC there then you are not being rationale at all.
Absolutely agree with this. Even Parc Centros which is right beside MRT sells at 1,181 psf for latest sale. The two upcoming ECs are no where as accessible as Parc centros and expect consumers to pay 1.1k psf? Plus the EC-Condo discount And the EC ten year restrictions issue
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Old 18-02-2019, 10:25 PM   #63
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How can it be? Burn paper money at balcony? 😂 wash dishes at car wash bay?
Leave rubbish at lift lobby.
Place unsightly stuff in common areas.
One committed suicide and landed in front of function room
Unsightly parking of (abandoned?) bicycles, though in allocated spaces.
Damage to facilities provided.
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Old 18-02-2019, 10:58 PM   #64
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Leave rubbish at lift lobby.
Place unsightly stuff in common areas.
One committed suicide and landed in front of function room
Unsightly parking of (abandoned?) bicycles, though in allocated spaces.
Damage to facilities provided.
the commit suicide is where sia?
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Old 18-02-2019, 11:39 PM   #65
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Absolutely agree with this. Even Parc Centros which is right beside MRT sells at 1,181 psf for latest sale. The two upcoming ECs are no where as accessible as Parc centros and expect consumers to pay 1.1k psf? Plus the EC-Condo discount And the EC ten year restrictions issue
Thank you, finally some rational views. Some people just want prices to keep going up and up with no regard for future generations and newcomers. EC is supposed to be subsidized housing and yet the prices are comparable or higher than PC in the surrounding area and itís supposed to be fine. Jeez.
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Old 19-02-2019, 06:41 AM   #66
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You are totally right too. But it is these new owners that set the new trend. They will never look at the past because they were probably students that time, so to them, they already missed the train. We say they are irrational because we bought at a lower price and we see how things skyrocketed.
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Old 19-02-2019, 07:41 AM   #67
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You are totally right too. But it is these new owners that set the new trend. They will never look at the past because they were probably students that time, so to them, they already missed the train. We say they are irrational because we bought at a lower price and we see how things skyrocketed.
It is worse than that though, becoz to me it is clearly more worthwhile to buy Parc centros or Watertown than the Upcominh EC at Sumang or Anchorvale (assuming their prices will be 1-1.1k psf).
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Old 19-02-2019, 07:41 AM   #68
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Leave rubbish at lift lobby.
Place unsightly stuff in common areas.
One committed suicide and landed in front of function room
Unsightly parking of (abandoned?) bicycles, though in allocated spaces.
Damage to facilities provided.
really got one committed suicide?
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Old 19-02-2019, 11:38 AM   #69
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It is worse than that though, becoz to me it is clearly more worthwhile to buy Parc centros or Watertown than the Upcominh EC at Sumang or Anchorvale (assuming their prices will be 1-1.1k psf).
Just another train of thought- it is newer and fresh lease. There is also CPF housing grant for first timers.

ECs aside, new launches are also disproportionate to neighboring slightly older condos in other estates as it is pegged to land purchase price. See park colonial at woodleigh -$1700psf? Resale prices in the vicinity are still averaging $1300psf. Why people still buy leh?

I personally find it puzzling but i guess the market is still cash rich.
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Old 19-02-2019, 12:17 PM   #70
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Just another train of thought- it is newer and fresh lease. There is also CPF housing grant for first timers.

ECs aside, new launches are also disproportionate to neighboring slightly older condos in other estates as it is pegged to land purchase price. See park colonial at woodleigh -$1700psf? Resale prices in the vicinity are still averaging $1300psf. Why people still buy leh?

I personally find it puzzling but i guess the market is still cash rich.
Good observation. Though I will suggest that that observation could actually makes the EC pricing even more weird. Park colonial is much nearer to woodleigh MRT than the nearby comps.

Whereas in this EC case, the EC location sucks vs Watertown/Parc Centros but are likely to be priced at only a small discount (solely becoz CDL went in at 580 psf ppr). My guess is Sumang EC will sell badly becoz the developer will try to sell the EC at breakeven/profit making prices above 1.1k psf, but will struggle to move much units and this have to offer discounts eventually.
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Old 19-02-2019, 02:07 PM   #71
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I believe the psf for suman at $1100. But the size will be like 850 sqf for 3 bedrooms units... In order to made it sell able and affordable.
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Old 19-02-2019, 02:57 PM   #72
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the main reason why property value usually go up (long term) is because of compound CPF interest

take bto vs sbf for eg, easily up min 5%
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Old 19-02-2019, 05:20 PM   #73
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the main reason why property value usually go up (long term) is because of compound CPF interest

take bto vs sbf for eg, easily up min 5%
Agree. I do feel that even after factoring in inflation/interest impact/time value of money, this Sumang walk EC will still be overpriced.
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Old 19-02-2019, 07:42 PM   #74
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In my opinion, sumang ec will sell well.
Other than the usual logical fact like there are a shortage of ec and cheaper alternative of pc, two trends I observed are
1. People usually new places. To you watertown and Parc centro are still new, but to the young people, they are old already.
2. People generally wouldn't mind developer earning a profit, but not the owners of existing condo.

Good observation. Though I will suggest that that observation could actually makes the EC pricing even more weird. Park colonial is much nearer to woodleigh MRT than the nearby comps.

Whereas in this EC case, the EC location sucks vs Watertown/Parc Centros but are likely to be priced at only a small discount (solely becoz CDL went in at 580 psf ppr). My guess is Sumang EC will sell badly becoz the developer will try to sell the EC at breakeven/profit making prices above 1.1k psf, but will struggle to move much units and this have to offer discounts eventually.
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Old 19-02-2019, 07:54 PM   #75
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In my opinion, sumang ec will sell well.
Other than the usual logical fact like there are a shortage of ec and cheaper alternative of pc, two trends I observed are
1. People usually new places. To you watertown and Parc centro are still new, but to the young people, they are old already.
2. People generally wouldn't mind developer earning a profit, but not the owners of existing condo.
ha point 2....

anyway its like there is this ec 'brand' to it that people who do not do research think its cheap. its like bto also, think its cheap.

but actually there are good resale condo if u know where to find. resale hdb after all the grants and waiting time can actually not much diff from bto in same area.
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