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Executive Condo (EC) bubble?

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Old 19-02-2019, 09:13 PM   #76
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In 2010 when the 1st EC Prive was launched at avg $680psf in Punggol, similar thread started with analysts, mathematicians, scientists etc bombarded Prive till birds dun even dare to fly near. After 5 years of MOP, the resale price transacted at around $1k psf. Those garang 1st time owners who did not read HWZ are laughing to the bank now. 9 years later, another similar thread surfaced.
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Last edited by sft1393h; 19-02-2019 at 09:19 PM..
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Old 19-02-2019, 09:23 PM   #77
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When you about to buy the resale condo, then realised that you are paying 300psf more than the launch psf (meaning the owner is going to pocket 300psf), what is your thought? You will want to bargain. But the owner doesn't budge. Because they are financially strong and they can wait somemore. But still, you can look for other units in the same project. Then think about this, if you were to buy that unit, you will be priced out for the next several years because all your neighbours who bought at launch are going to sell lower than you.

;119276493]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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Old 19-02-2019, 09:32 PM   #78
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In 2010 when the 1st EC Prive was launched at avg $680psf in Punggol, similar thread started with analysts, mathematicians, scientists etc bombarded Prive till birds dun even dare to fly near. After 5 years of MOP, the resale price transacted at around $1k psf. Those garang 1st time owners who did not read HWZ are laughing to the bank now. 9 years later, another similar thread surfaced.
What were the prices for private resales and new launches at punggol at that time?
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Old 19-02-2019, 09:53 PM   #79
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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.
Even though I disagree with the sale forecasts, but I agree with ur two pts
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Old 19-02-2019, 09:54 PM   #80
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What were the prices for private resales and new launches at punggol at that time?
1st launched in Punggol with land price bidded at $280psf/ppr. No track records of private resale. No news of SIT, Waterway Point, Safra, regional sports hub, Punggol Digital District and the latest Oasis Terrace.

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Old 19-02-2019, 10:11 PM   #81
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1st launched in Punggol with land price bidded at $280psf/ppr. No track records of private resale. No news of SIT, Waterway Point, Safra, regional sports hub, Punggol Digital District and the latest Oasis Terrace.
It is hard to compare then. $680psf in 2010 does not seem high anyway. Which scientist/mathematician was bombarding Prive?
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Old 19-02-2019, 10:19 PM   #82
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What were the prices for private resales and new launches at punggol at that time?
https://sbr.com.sg/property/news/executive-condominium-market-makes-comeback-five-year-hiatus

This article back in 2010 says that EC historically has a 30 percent price discount to private resale.
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Old 19-02-2019, 10:22 PM   #83
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1st launched in Punggol with land price bidded at $280psf/ppr. No track records of private resale. No news of SIT, Waterway Point, Safra, regional sports hub, Punggol Digital District and the latest Oasis Terrace.
http://eresources.nlb.gov.sg/history/events/c31a9cc5-3c2a-4fd5-9f4a-3054f95dffa3

Well we had the real Punggol waterway (the River) construction which began in 2009. HAHAHAH
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Old 19-02-2019, 10:30 PM   #84
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It is hard to compare then. $680psf in 2010 does not seem high anyway. Which scientist/mathematician was bombarding Prive?
Now that you looked back 9 years ago is not high for sure. Likewise in 2028, when u look back $1100psf will also won't be high.
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Old 19-02-2019, 11:16 PM   #85
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Now that you looked back 9 years ago is not high for sure. Likewise in 2028, when u look back $1100psf will also won't be high.
In 2010, the global economy was just starting to recover from the global financial crisis, collapse of Lehman etc.. prices were at low due to the sentiments of the times. We enjoyed 8 years of relatively bullish markets and growth in many sectors of the economy.

Fast forward to 2019, the economy is uncertain, there’s the trade war, the political turmoil in America, many industries are facing disruption, plus many other factors. I find it hard to believe we will have another 8 years of growth such that $1100psf will ‘also won’t be high’. But of course we may be wrong and time will reveal our folly.
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Old 19-02-2019, 11:36 PM   #86
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Now that you looked back 9 years ago is not high for sure. Likewise in 2028, when u look back $1100psf will also won't be high.
You may be right, in 2028 sumang ec may sell for 1,700psf, but treasure trove will also rise to 1,900psf, so whats the difference?

What is important is to find the best deal in today's market ... and that is definitely not sumang ec as there are still so many cheaper punggol/SK resales.

If I remember correctly, 3 years ago, EC price was aro $800psf? Is there any basis for rising $300psf in such a short period of time? Has your income risen 30%?
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Old 20-02-2019, 01:53 AM   #87
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What about location ?

Edmw always say punggol is ulu la
Slum la
Birds no lay eggs la
Lots of cecas la
Pasir Gudang la.......

Why Sumang will still sell well ?

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.
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Old 20-02-2019, 05:30 AM   #88
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Many years back, when DBSS was first launched, many ballk at the price and paying such money for a small place is unthinkable, even though the locations are good.

Today, many sold for above $1mil for those oh higher floors. Sometimes, it is just irritational. Take the park colonial example, unthinkable at $1.7k psf where surroundings are selling for lower. But that pricing seems to be the norm for new launches and even EC, based on breakeven for Sumang is above $1k.

Time will tell these bunch of trend setters are heroes or zeroes.
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Old 20-02-2019, 06:10 AM   #89
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Every region has a cheaper/ulu new town.
North is Yishun/Sembawang
East is Pasir ris
Northeast is punggol/sengkang
West is jurong west
Northwest is cck/Bukit batok

In fact, punggol hdb are aesthetically more appealing than hdb from other new town.
And it has more potential than many other new towns. What does Bukit Batok, Pasir Ris have to offer?

What about location ?

Edmw always say punggol is ulu la
Slum la
Birds no lay eggs la
Lots of cecas la
Pasir Gudang la.......

Why Sumang will still sell well ?
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Old 20-02-2019, 06:33 AM   #90
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Choa chu kang and Bukit batok also not bad lah 😂 got near SPCA and Qian Hu. Anyway, choa chu kang and Bukit batok getting crowded with new bto in Bukit batok. I wonder how the traffic will be if Tengah first two batches of bto up and running.
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