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New EC at Sumang Walk

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Old 15-08-2019, 09:20 AM   #2101
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Ec is 5 years after top right
Pc is 3 years upon otp right?
PC can do sub sale, just that will incur SSD, after 3 years no SSD.
EC to sell to singaporeans or PR is 5 years aft TOP.
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Old 15-08-2019, 09:39 AM   #2102
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If that ever happens, there could be panic and erratic selling.
No erratic selling yet. Sumang buyers are stuck for 3 years for building plus 5 years MOP.

If economy that bad, want to sell also may not have buyers. Like I mentioned earlier, a $1M asset that can smell can touch but cannot feed you.
problem is that u need to seek HDB approval if selling before 5yrs MOP and must hv valid good reason.
I've seen couples divorced due to can't cope with their dream home. That's why almost every EC project bound to see some offloading in resale market after staying in for 1 or 2 yrs.
Some time, just wondering is this another loophole for quick bucks?
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Old 15-08-2019, 09:52 AM   #2103
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When the recession is in, your jobs are insecure & not cash/cpf rich, very few dare to sign up for a $500k-$1 million bank loan.

Some of us may be lucky with jobs that are recession proof.

The banks are your friends only if you have $.
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Old 15-08-2019, 10:20 AM   #2104
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3 years generally I guess. Depends on how fast they build
I doubt recession last 5 full years
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Old 15-08-2019, 10:21 AM   #2105
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When the recession is in, your jobs are insecure & not cash/cpf rich, very few dare to sign up for a $500k-$1 million bank loan.

Some of us may be lucky with jobs that are recession proof.

The banks are your friends only if you have $.
Thatís true, but interest rate will be lower from all the borrowing. So if your job is recession proof, you should be fine.
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Old 15-08-2019, 10:35 AM   #2106
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I doubt recession last 5 full years
Those displaced structurally could experience middle age crisis for years.

Countries may recover fast. Individuals might not. Retrenchment exercises are the best unspoken way to reduce overpaid older workers.

It's always the worry of the government for these group of people.
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Old 15-08-2019, 10:36 AM   #2107
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Which is not the majority of potential buyers for this EC, so thatís out of point
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Old 15-08-2019, 10:38 AM   #2108
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Which is not the majority of potential buyers for this EC, so thatís out of point
Majority are middle age either by TOP or if not, they are either super capable or have cash rich parents to help
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Old 15-08-2019, 11:09 AM   #2109
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Majority are middle age either by TOP or if not, they are either super capable or have cash rich parents to help
Iím not sure about this you have any stats Ma?
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Old 15-08-2019, 11:20 AM   #2110
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I expected a gloomy Asia stock market response.
Alas, HangSeng is even green now.

..... with the Dow down 800 points,
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Old 15-08-2019, 11:22 AM   #2111
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Some are already cash rich.
And many know most will recover.
These people will buy.

That’s true, but interest rate will be lower from all the borrowing. So if your job is recession proof, you should be fine.
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Old 15-08-2019, 11:23 AM   #2112
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Thatís true, but interest rate will be lower from all the borrowing. So if your job is recession proof, you should be fine.
Precisely.

The best time to buy property is during recession cos the rates will be crazy low.. Of course provided got the ammo la..
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Old 15-08-2019, 11:27 AM   #2113
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Iím not sure about this you have any stats Ma?
No stats. But I will safely assume most who can afford near 1.5M without parents help are at least 35 years old. Afterall, the median age of first marriage for men in Sg in 30 years old.

And given that 2nd timer quota was filled this round, we can safely assume they have fulfilled at least 5 years MOP, and this put this group median age to be around 35.

I mean, I'm part of the incapable group unable to afford comfortably. What do I know right?
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Old 15-08-2019, 04:28 PM   #2114
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Developers sell 1,556 private homes including EC units in July, up 89% from 822 units in June: URA data



“At the Piermont Grand EC project in Sumang Walk in the Punggol area, City Developments and TID sold 378 units last month at a median price of S$1,107 per square foot (psf).”



https://www.srx.com.sg/singapore-pro...eBusinessTimes
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Old 15-08-2019, 04:40 PM   #2115
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*Singapore Property Market*
(for info / reference)

*DJ Downward Pressure on Singapore Property Market in Two to Four Years : CBRE -- Market Talk*

0807 GMT - Singapore's property sales figures for July show that the market is still resilient, says CBRE Research. Of the 6,408 units launched in Singapore this year, 5,526 units have been sold and CBRE expects 2019 property sales will be 7,000-8,000 units._

Desmond Sim, the Southeast Asia Head of Research, expects downward pressure on the sector only in 2-4 years, when the impact of the weaker macroeconomic environment is felt and lowers demand, which coupled with sell-by deadlines--because units unsold after the deadlines attract additional government duties--would likely prompt developers to begin reducing property prices.
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