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Old 28-07-2019, 06:55 PM   #1561
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Developer willing to sell at a certain price, buyers willing to buy at the price they set, this should be considered good pricing instead of under priced right? I am sure the developer did their homework, they factor in the margin they want to make and release their calculated launch price.

I am not sure why it becomes the case that now the sales is lower, it becomes good pricing instead. I think if the pricing is really right, the sales will reflect. Lets not forget that they kept emphasizing this project is the only EC project this year, and it was launched after sometime from the previous EC project. There should be a build up of pool of buyers wanting to get an EC. Still, opening day, no over-subscription, not even for 2nd timers.

Just facts and observations here.
ok la. 2nd timers quota almost filled this round.

But first timer quota quite bad. 133 out of 574. Even without resale levy and potentially 30k grant.

I think this EC is priced to catch 2nd timers, and to set a base to justify the 16xx price for sengkang residences. Really a good strategy.
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Old 28-07-2019, 06:56 PM   #1562
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Few overestimate but many developers have huge holding power.
Anyway the projects are launched at least 3 years ahead of TOP & few are in a hurry to lelong off even if they have overpriced in some.

A project sold out too soon they launch = zero left.
It is not IPhones which they can churn out more
week /month.

Bidding for new plot is intense & never easy to win.
Whopping 17 bid for this Sumang & you won't know your competitors bid price.
https://www.businesstimes.com.sg/rea...rd-for-ec-land

Just like overestimating the price they can set, is also common. I am sure they go through the relevant discussions with their shareholders before setting the price.
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Old 28-07-2019, 07:03 PM   #1563
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Sumang walk cfm good sales de la

Punggol households r usually young n affluent

I hav 3 couple frens staying there with hh income 16k n above, all lamenting to me y sumang walk was not avail earlier!!!

Plus its branded CDL!! A sign of top notch quality.

Buy now or regret later. Dun say I nvr recommend hoh. Next time 15xx for EC liao dun come cry father cry mother!!!
HH income of 16k no need stay punggul even if they are qualified to buy EC.
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Old 28-07-2019, 07:05 PM   #1564
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Few overestimate but many developers have huge holding power.
Anyway the projects are launched at least 3 years ahead of TOP & few are in a hurry to lelong off even if they have overpriced in some.

A project sold out too soon they launch = zero left.
It is not IPhones which they can churn out more
week /month.

Bidding for new plot is intense & never easy to win.
Whopping 17 bid for this Sumang & you won't know your competitors bid price.
https://www.businesstimes.com.sg/rea...rd-for-ec-land
If there is really that few overestimation, the concept of discount will not exist le.

Just like you questioned "What's the point to give the buyers an instant +20%?"
There can be a equivalent question "Why price out potential buyers and hold the units?". I think there will be certain cost involve if the units are not sold, like the inventory cost concept.

I just do not really understand why keep mentioning underpriced? It is not as though the developers are losing money selling their units at the launch price they set. If it is a win-win scenario for everyone, why not?
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Old 28-07-2019, 07:13 PM   #1565
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Agreed. I am also one of those that had missed out on the boats that sailed by earlier (also missed the cheaper ECs), we can blame no one except reading more, understanding more and taking action when it’s right.

That’s the purpose of this thread, but DYODD peeps.
"Missed the boat" concept is frequently used by agents to instill fear in buyers. I do not support this phrase at all. Buy when you need a home and can afford investment properties.

Prices from 2013 to 2017 were stagnant and there was no oversupply. What were you waiting for? For a crash?

That said, the sudden 20-40% spike in new launch prices is indeed very hard to digest and hard to reason.
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Old 28-07-2019, 07:16 PM   #1566
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Just like overestimating the price they can set, is also common. I am sure they go through the relevant discussions with their shareholders before setting the price. Since they are happy with the price they set, the buyers are happy to buy at the price they set, developers laughing their way to the banks, buyer smiling when opening their wallets, everyone happy, what is wrong with this?

I am sure the companies will not mind when news come out that the projects they launch are selling like hot cakes. It is a good thing is it not?
Sell like hot cakes is better. Like any business, cash in pocket is always better than potential cash from assets not sold.

Cannot sell fast = increased marketing costs plus lesser cash in bank for developers. Hold too long also kenna absd.

This time round, it shows that first timers appetite is mainly for 3 bedrooms. The next ec launch is coming soon in jan 2020 and Sumang needs to up its game to attract more first timers to fork out 1.5 mil + stamp duty for remaining quota.

How? Tell everyone again. Only ec launch in 2019 leh! Come buy leh! Come come! Next ec sure more expensive, come buy!

As the next ec developer, how would you then counter that marketing effort?
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Old 28-07-2019, 07:22 PM   #1567
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"Missed the boat" concept is frequently used by agents to instill fear in buyers. I do not support this phrase at all. Buy when you need a home and can afford investment properties.

Prices from 2013 to 2017 were stagnant and there was no oversupply. What were you waiting for? For a crash?

That said, the sudden 20-40% spike in new launch prices is indeed very hard to digest and hard to reason.
In stocks, there is something called pump and dump.

Pump and make everyone fomo.
Then dump... cuz prices are now "cheap".

It's really interesting
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Old 28-07-2019, 07:22 PM   #1568
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Sell like hot cakes is better. Like any business, cash in pocket is always better than potential cash from assets not sold.

Cannot sell fast = increased marketing costs plus lesser cash in bank for developers. Hold too long also kenna absd.

This time round, it shows that first timers appetite is mainly for 3 bedrooms. The next ec launch is coming soon in jan 2020 and Sumang needs to up its game to attract more first timers to fork out 1.5 mil + stamp duty for remaining quota.

How? Tell everyone again. Only ec launch in 2019 leh! Come buy leh! Come come! Next ec sure more expensive, come buy!

As the next ec developer, how would you then counter that marketing effort?
I think the really funny part of this whole episode is before the balloting day, most were saying this project confirm sell fast as it is "only project this year", got a ready pool of buyers already.

After balloting day the discussion becomes the price is "right", we would not want the project to sell out as soon as it launched.

I mean the signs are all there guys, there must be a reason for everything to happen as it is.
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Old 28-07-2019, 07:30 PM   #1569
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"Missed the boat" concept is frequently used by agents to instill fear in buyers. I do not support this phrase at all. Buy when you need a home and can afford investment properties.

Prices from 2013 to 2017 were stagnant and there was no oversupply. What were you waiting for? For a crash?

That said, the sudden 20-40% spike in new launch prices is indeed very hard to digest and hard to reason.
Haha let me bring back you back in time, when hundred palms were priced at 850psf, I am quite sure you would be one of those skeptical that the prices were too high (I can readily admit I was one of them), in comparison to your (other) 750psf or cheaper resale EC, but you would not admit.

That said, I learnt my lesson, at any time, there are always value buys in the market relative to others.
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Old 28-07-2019, 07:32 PM   #1570
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I think the really funny part of this whole episode is before the balloting day, most were saying this project confirm sell fast as it is "only project this year", got a ready pool of buyers already.

After balloting day the discussion becomes the price is "right", we would not want the project to sell out as soon as it launched.

I mean the signs are all there guys, there must be a reason for everything to happen as it is.
Some even say 80% leh. Forum only mah.

The reasoning I still can't get is prices will go higher because developers bid land prices higher.

So it doesn't depends on buyers affordability and demand anymore?
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Old 28-07-2019, 07:36 PM   #1571
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Haha let me bring back you back in time, when hundred palms were priced at 850psf, I am quite sure you would be one of those skeptical that the prices were too high (I can readily admit I was one of them), in comparison to your (other) 750psf or cheaper resale EC, but you would not admit.

That said, I learnt my lesson, at any time, there are always value buys in the market relative to others.
Not true. But anything I say now is hindsight and does not count anyway. And I wasn't eligible then anyway.

News about mrt near hundred palms has leaked months before it hundred palms was launched. Just saying.
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Old 28-07-2019, 07:41 PM   #1572
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Not true. But anything I say now is hindsight and does not count anyway. And I wasn't eligible then anyway.

News about mrt near hundred palms has leaked months before it hundred palms was launched. Just saying.
Momoeagle and Annetyu are the same person?

Last edited by Passerboy; 28-07-2019 at 07:47 PM..
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Old 28-07-2019, 07:49 PM   #1573
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Momoeagle and Annetyu are the same person?
why would you think so?
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Old 28-07-2019, 07:50 PM   #1574
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why would you think so?
Anyone who is not bullish about the market is Annetyu

Lol these jokers
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Old 28-07-2019, 07:52 PM   #1575
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In stocks, there is something called pump and dump.

Pump and make everyone fomo.
Then dump... cuz prices are now "cheap".

It's really interesting
It does seem the property market is behaving like the stock market now.

Hopefully, there is no dumping of properties because I don't want the market to crash either.
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