HWZ Forums

Login Register FAQ Mark Forums Read

New EC at Sumang Walk

Like Tree677Likes
Reply
 
LinkBack Thread Tools
Old 20-07-2019, 11:10 AM   #781
Senior Member
 
Braun8's Avatar
 
Join Date: Mar 2012
Posts: 811
One is punggol, other is hougang. How to compare also? Hougang supposedly more valuable than punggol...

Agree, Riverfront Residence has a better location and the area is not as crowded as Piermont Grand, and some of their units have unblock view and private lifts. And as PC, they don't have MOP restrictions.
sgpropertyblog likes this.
Braun8 is offline   Reply With Quote
Old 20-07-2019, 11:12 AM   #782
Member
 
Join Date: Jun 2019
Posts: 318
you are right, that's provided u sell 1st and cash out to buy, then u hv loads of cash and fund to pay for the initial downpayment and fees and a place to stay. But, if you intend to sell only after EC completed, then the upfront payment is a challenge as most ppl, their cpf fund are used on current flat.

there are many factors that u need to consider.. of cos EC may not be suitable for every upgraders.. so need to depend on your situation.. so its our job to find a best options for our buyers.. I don't insist my buyers die die must buy Piermont, its ultimately based on their situation n needs.. furthermore, bo guarantee sure can get a unit here , especially for 2nd timers cos of the quota..
bojangle likes this.
sgpropertyblog is offline   Reply With Quote
Old 20-07-2019, 11:22 AM   #783
Member
 
Join Date: Jun 2019
Posts: 318
Agree, Riverfront Residence has a better location and the area is not as crowded as Piermont Grand, and some of their units have unblock view and private lifts. And as PC, they don't have MOP restrictions.
agree with you.. every projects has its pros and cons.. very hard to find that is 100% flawless.. also its personal preference.. some ppl may like Hougang, but some may prefer Punggol.. so must do your homework carefully lor, which one suits you best..

some ppl find upgrading to PC not so ideal cos if you haven't sell your current HDB, you will need to upfront pay the ABSD first, then reimburse later.. but for EC, no need ABSD.. but some ppl prefer to buy PC as 2nd property as they dun need to sell off their HDB if they can afford .. so really depends on your needs
sgpropertyblog is offline   Reply With Quote
Old 20-07-2019, 11:28 AM   #784
Member
 
Join Date: Jul 2019
Posts: 443
you are right, that's provided u sell 1st and cash out to buy, then u hv loads of cash and fund to pay for the initial downpayment and fees and a place to stay. But, if you intend to sell only after EC completed, then the upfront payment is a challenge as most ppl, their cpf fund are used on current flat.
I thought usually people sell, then buy the EC and bunk somewhere else while (usually parents place- from my understanding) waiting for completion, thatís how they can upgrade.

I noticed a trend that people now sell their flats upon MOP and move to buy a EC or PC. On this note, I think there will be many more flats crossing the 1 mil threshold in about 3 years time, especially w location such as Kallang, whampoa, boonkeng.

Last edited by Passerboy; 20-07-2019 at 11:32 AM..
Passerboy is online now   Reply With Quote
Old 20-07-2019, 11:42 AM   #785
Senior Member
 
Join Date: Aug 2004
Posts: 772
On hindsight, my colleague who bought 100 palms, they stayed in at the guys family side while awaiting the construction, but they are v happy cos they are sitting on huge paper gain. 850k 4 bedroom.
ur colleague trying to smoke u? if remember correctly, 4 bedder is ard 1.1mil. which is patio units. Think he meant 850psf, that was the average selling price.
bojangle is offline   Reply With Quote
Old 20-07-2019, 11:53 AM   #786
Senior Member
 
Join Date: Aug 2004
Posts: 772
I thought usually people sell, then buy the EC and bunk somewhere else while (usually parents place- from my understanding) waiting for completion, thatís how they can upgrade.

I noticed a trend that people now sell their flats upon MOP and move to buy a EC or PC. On this note, I think there will be many more flats crossing the 1 mil threshold in about 3 years time, especially w location such as Kallang, whampoa, boonkeng.
provided the parent hse is big enough to accommodate a couple with 2 or 3 kids, all the stuffs to move over and stay for 4yrs.
bojangle is offline   Reply With Quote
Old 20-07-2019, 11:58 AM   #787
Member
 
Join Date: Jul 2019
Posts: 443
ur colleague trying to smoke u? if remember correctly, 4 bedder is ard 1.1mil. which is patio units. Think he meant 850psf, that was the average selling price.
Typo, 850psf. My bad, thanks for pointing out.
Passerboy is online now   Reply With Quote
Old 20-07-2019, 01:21 PM   #788
Junior Member
 
Join Date: Apr 2011
Posts: 93
Thanks for ur info. I suppose 888k will be the one facing soka or sch 😁

Actually some agents underquote their clients as they are afraid might scare away the buyers.. the initial price given to us by the developer is all this while $1150psf average.. so now, its actually much lower than expected.. will have to wait til 25th to see the actual pricing, but surely will have units priced from $888k..
Path-Finder is online now   Reply With Quote
Old 20-07-2019, 01:40 PM   #789
Junior Member
 
Join Date: Apr 2011
Posts: 93
You spoke my mind. My cpf is pretty much stucked in my existing flat since i do partial repayment regularly. I will probably hav to fork out 300k cash if decided to go with Piermont. Very heart pain.

current loan is 75%, during my time in 100palms was 80%.
i still remember based on 1mil budget, already need to fork out about 360 or 380k which include downpayment + 50k resale levy + stamp duty etc. That's why i decided to turn to elsewhere and get a young resale PC which i can use the 50k for reno, and with the same amount of approx 330K downpayment, can get even bigger unit. Bigger, better, faster.

also, dun want to take challenge to wait for 4yrs later and my flat resale price drop and also increased accrued interest to eat into my COV. Most impt point is that most upgraders valued their flat at today's market price, forgetting when 4yrs later, if their flat drop 50k to 80k, how?

now at 75%, upgraders need to be loaded with lots of cash. Easily 100k and provided cpf hv enough for downpayment that do not need further cash portion.

just find that EC do not favor upgraders, at least for me.
Path-Finder is online now   Reply With Quote
Old 20-07-2019, 02:41 PM   #790
SBC
Arch-Supremacy Member
 
Join Date: Mar 2001
Posts: 10,443
How many had submitted your bookings online?
SBC is offline   Reply With Quote
Old 20-07-2019, 02:50 PM   #791
Member
 
Join Date: Jul 2010
Posts: 170
Looks like CDL is trying hard to be realistic in pricing but is constrained by its high land bid price.

Lets wait for actual sales numbers next weekend.
Usually the psf is X2 of the land sales.

The top bid of $509.37 million for the Sumang Walk plot works out to a record $583 per sq ft per plot ratio (psf ppr). It came from a joint venture between a City Developments (CDL) unit and TID Residential.
sukidexun is offline   Reply With Quote
Old 20-07-2019, 02:57 PM   #792
Member
 
Join Date: Jul 2010
Posts: 170
Agree, Riverfront Residence has a better location and the area is not as crowded as Piermont Grand, and some of their units have unblock view and private lifts. And as PC, they don't have MOP restrictions.
Bro, Riverfront Residences is not a v good location at all. Plus there's nothing much in the area. Last time i stayed beside it so i know. Its an opp party area. I heard many agents like to tell buyers that if you buy opp party area, next time you want to sell you cannot get good price.

As for this new Ec, its better in many ways. Govt is planning to transform it.
sgpropertyblog likes this.
sukidexun is offline   Reply With Quote
Old 20-07-2019, 03:01 PM   #793
Member
 
Join Date: Jul 2010
Posts: 170
yes, understand your point.. what im trying to say is, EC price is much lower compare to PC.. as many ppl say the price of tis EC is the same as new launch PC ,might as well buy PC..
What others are referring is to the nearby condo. No new launch condo is at 1.1 or 1.2 unless u are talking about changi (maybe still got chance)
sukidexun is offline   Reply With Quote
Old 20-07-2019, 03:04 PM   #794
Senior Member
 
Zetrio2006's Avatar
 
Join Date: Nov 2017
Posts: 1,294
Smile

Looks like CDL is trying hard to be realistic in pricing but is constrained by its high land bid price.

Lets wait for actual sales numbers next weekend.
If psf starts from $1050 psf, then the average is possibly $1125 psf.

And don't forget these are 3BR/4BR/5BR in Piermont, RF also have some 3BR/4BR units still going at $12xx psf. (only 10% higher than Piermont)
sgpropertyblog likes this.
__________________
Latest Property News
Zetrio2006 is offline   Reply With Quote
Old 20-07-2019, 03:05 PM   #795
Member
 
Join Date: Jul 2010
Posts: 170
You spoke my mind. My cpf is pretty much stucked in my existing flat since i do partial repayment regularly. I will probably hav to fork out 300k cash if decided to go with Piermont. Very heart pain.
Bro, you heart pain now but it might be a blessing in disguise. You see years back. If our parents so smart can buy duxton, they can already retire liao lo.

Of cos you have to do your math n see how it goes.

Job stable bo?
Wife helping?
Current house worth?
Going for Big / small house?
Expenses?
How much you need to top up?

Of cos if you cant upgrade then nvm lo. What's the most important is thing is that dont chiong chiong chiong until later cannot pay.

Bank loan dont play around. Cannot pay means go under the hammer / fire sale liao.
sgpropertyblog likes this.
sukidexun is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On