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Old 08-07-2019, 12:32 PM   #271
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If EC price is too close to PC price, I wouldn’t go for EC even I’m eligible.
The wait for TOP (assuming 3 years to complete) and MOP (another 5 years) has already tie me down a total of 8 years.
Need to factor in opportunity cost.
Remember, time is money.
Yes, the set back is EC has got 5 yrs MOP..again, imagine if EC got no MOP, then everyone will chiong for it.. then those who really canot afford PC now stand lower chance of getting an EC.. and also if no MOP, wat would the price be again? Still at $11xx psf?so you win some, u lose some.. for difference of about $200psf, some ppl dun mind waiting that extra 5 yrs lor..
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Old 08-07-2019, 12:38 PM   #272
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This agent is becoming more and more aggressive closer to launch date.

Treasure is on avg $1280psf, isn't it? And don't forget there is room for downward correction.

Diff between PC & EC 5 years down the road is that EC cannot be sold to foreigners. fyi, the buyer of one of my condo that I flipped was a wealthy woman for china buying for her daughter... That said, foreigners won't be interested in sumang in the first place.

And yes, another of your tactics is to call ec buyers "privileged", to make them feel atas.
Precisely, wealthy foreigners will be more interested in those atas projects like yours... dun think they know where is Punggol in the first place right? So does it makes a difference whether 5 yrs later foreigners can buy anot?
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Old 08-07-2019, 12:45 PM   #273
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This agent is becoming more and more aggressive closer to launch date.

Treasure is on avg $1280psf, isn't it? And don't forget there is room for downward correction.

Diff between PC & EC 5 years down the road is that EC cannot be sold to foreigners. fyi, the buyer of one of my condo that I flipped was a wealthy woman for china buying for her daughter... That said, foreigners won't be interested in sumang in the first place.

And yes, another of your tactics is to call ec buyers "privileged", to make them feel atas.


Oh, btw, its not my tactic to call EC buyers ‘privileged’, i’m just very tactful and mindful of my words as i believe no one likes to be looked down ..even today you want to buy also you are not eligible to buy(not tat u will buy sumang anyway)so those that are eligible is not called privileged then call what ar?
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Old 08-07-2019, 12:54 PM   #274
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Precisely, wealthy foreigners will be more interested in those atas projects like yours... dun think they know where is Punggol in the first place right? So does it makes a difference whether 5 yrs later foreigners can buy anot?
This is when we need to compare sumang with other punggol resale condos...

And how liveable are sumang units? Please post some pics of showflat when you can.
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Old 08-07-2019, 01:06 PM   #275
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EC owners.....let's shout "Huat aah!".
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Old 08-07-2019, 01:13 PM   #276
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Once again, the EC market is under developers' control. They are playing on the "limited" supply of EC, knowing that buyers will have no choice but to bite.

Their main selling point is also by referencing to private new-launch prices. But will that hold?

If I were developer, I will also price the sumang ec at $1,250.

However, I have a feeling that the most recent ec land sale at sembawang is up for tough times.
I see it differently. The EC market is not entirely manipulated by developer and sometimes it is not up to their control. The resale price of nearby projects did and these resale prices set the benchmark.

Use sumang and prive as example (since both have similar attributes to nearby amenities):
When developer bid the land, they would probably be keeping track of nearby EC resale transaction to have a gauge of the future land bid price.
Imagine if price is still transacting at 7xxpsf for prive resale, would CDL still bid sumang at 585psf ppr that translate to 10xxpsf to 1100psf this kind of launch price? Wouldn’t it be better off for buyers to go for prive if one see such huge price gap betw the 2 ECs?

Again, if prive resale already hit 1kpsf, would CDL be launching their brand new sumang EC lower than that?
I believe everything move in tandem.

Last edited by NiShiZhu; 08-07-2019 at 01:26 PM..
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Old 08-07-2019, 01:31 PM   #277
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I see it differently. The EC market is not entirely manipulated by developer and sometimes it is not up to their control. The resale price of nearby projects did and these resale prices set the benchmark.

Use sumang and prive as example (since both have similar attributes to nearby amenities):
When developer bid the land, they would probably be keeping track of nearby EC resale transaction to have a gauge of the future land bid price.
Imagine if price is still transacting at 7xxpsf for prive resale, would CDL still bid sumang at 585psf ppr that translate to 10xxpsf to 1100psf this kind of launch price? Wouldn’t it be better off for buyers to go for prive if one see such huge price gap betw the 2 ECs?

Again, if prive resale already hit 1kpsf, would CDL be launching their brand new sumang EC lower than that?
I believe everything move in tandem.
new ec got resale levy, 5 yr mop and many requirements to qualify, 5 yr resale ec is almost the same thing as pc, no reason for new ec to launch at higher price.
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Old 08-07-2019, 01:32 PM   #278
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I see it differently. The EC market is not entirely manipulated by developer and sometimes it is not up to their control. The resale price of nearby projects did and these resale prices set the benchmark.

Use sumang and prive as example (since both have similar attributes to nearby amenities):
When developer bid the land, they would probably be keeping track of nearby EC resale transaction to have a gauge of the future land bid price.
Imagine if price is still transacting at 7xxpsf for prive resale, would CDL still bid sumang at 585psf ppr that translate to 10xxpsf to 1100psf this kind of launch price? Wouldn’t it be better off for buyers to go for prive if one see such huge price gap betw the 2 ECs?

Again, if prive resale already hit 1kpsf, would CDL be launching their brand new sumang EC lower than that?
I believe everything move in tandem.
I think it was because of sumang bid price that enabled prive to achieve these resale prices and not the other way round.

It is the same for the entire property market now. Everything is based off developer land bid prices and upcoming (no longer upcoming actually) new launch prices. This EC bid price was based off the astronomical PC land bid prices.

So I do not think Prive will hit 1k psf so easily if not for sumang land bid and the other pc land bids.
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Old 08-07-2019, 01:35 PM   #279
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Of cos.. but sad to say, not everyone is eligible to purchase,which makes it harder to own one.. imagine if there are no restrictions to applying for an EC, the prices definitely will definitely soar abv $11xx psf!
No restrictions means that its a PC already, of course will launch higher than prive resale prices.
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Old 08-07-2019, 01:39 PM   #280
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I think it was because of sumang bid price that enabled prive to achieve these resale prices and not the other way round.

It is the same for the entire property market now. Everything is based off developer land bid prices and upcoming (no longer upcoming actually) new launch prices. This EC bid price was based off the astronomical PC land bid prices.

So I do not think Prive will hit 1k psf so easily if not for sumang land bid and the other pc land bids.
1k psf is standard for any newish condo in any location that is near mrt so I don't think prive price was driven by high land bid price.
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Old 08-07-2019, 01:42 PM   #281
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1k psf is standard for any newish condo in any location that is near mrt so I don't think prive price was driven by high land bid price.
If it was a new Private condo (less than 5 years) near mrt, I would think the resale price is 15xx psf upwards (for those that are more central) and at least 14xx psf upwards (for those less central) in current market.

Last edited by Passerboy; 08-07-2019 at 01:47 PM..
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Old 08-07-2019, 01:50 PM   #282
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1k psf is standard for any newish condo in any location that is near mrt so I don't think prive price was driven by high land bid price.
Yup, 1k is fine. But prive will likely sell for lower if not for those new launch pricings.
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Old 08-07-2019, 01:52 PM   #283
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If it was a new Private condo (less than 5 years) near mrt, I would think the resale price is 15xx psf upwards (for those that are more central) and at least 14xx psf upwards (for those less central) in current market.
You should take a look at actual data from Watertown(punggol), Luxurie&Lafiesta (Sengkang), Jewel@buangkok first.
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Old 08-07-2019, 01:56 PM   #284
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If it was a new Private condo (less than 5 years) near mrt, I would think the resale price is 15xx psf upwards in current market.
Depends on how near and what area but its definitely not upwards of 1.5k psf, for example cocopalms is nearer to mrt than prive but its still only transacting at around 1.2k psf. La fiesta is also nearer to mrt and its also transacting at 1.2k psf.

1150 psf for new ec thats not even that near to mrt is just crazy.
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Old 08-07-2019, 01:58 PM   #285
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new ec got resale levy, 5 yr mop and many requirements to qualify, 5 yr resale ec is almost the same thing as pc, no reason for new ec to launch at higher price.
If u buy Resale EC also needs to satisfy 5 year MOP right? (Correct me if I’m wrong)
Resale EC has reduced lease compared to brand new ones.
How can it be same as PC when EC can only sell to foreigners after 10years.
How can sumang EC price lower than Prive which is 7.5 years older? I can’t see the logic.

Last edited by NiShiZhu; 08-07-2019 at 02:08 PM..
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