HWZ Forums

Login Register FAQ Mark Forums Read

New EC at Sumang Walk

Like Tree729Likes
Reply
 
LinkBack Thread Tools
Old 28-07-2019, 01:12 AM   #1471
Senior Member
 
Join Date: Dec 2018
Posts: 2,239
The problem is the new private condo pricing is also not like those good 'old time', no ?

Million+ dollar or close to it flats are also not uncommon.

Hmm, honestly i am not sure if the future ECs will be cheaper or not, but if you look at how this launch price changed as compared to the previous EC launch, it just dont feel "right"..
Merg91 is offline   Reply With Quote
Old 28-07-2019, 01:39 AM   #1472
Member
 
Join Date: Jan 2018
Posts: 303
The problem is the new private condo pricing is also not like those good 'old time', no ?

Million+ dollar or close to it flats are also not uncommon.
Yes, its normal for things to be more expensive, just a feeling that the price jump this time round is too much.
sgpropertyblog likes this.
josephcws is offline   Reply With Quote
Old 28-07-2019, 01:39 AM   #1473
Senior Member
 
Join Date: Mar 2010
Posts: 907
Uncle Ni, I just did some research, it may be a mistake of mine and I have to admit it.

However, iNZ average was $800 and not exactly 100 below 850.

All along I thought all those EC were avg $800psf but I am surprised to see Treasure Crest transacting at mostly below $800psf (until developer's crazy land bids that caused a huge spike in bounced back units).

Clearly, I am not following the EC market. Thanks for the info, I have learnt quite a bit about EC today. Nonetheless. this only goes to show the massive amount of cheap ECs entering the resale market in 4-5 years time.
U are really very entertaining.
No matter what be it high educated or experienced pls lower your anyhow labelling habit la ah yo eh. Annetyu drama is more than anything else.

Brainless la. Poor english la. Etc etc. Zzzz
sgpropertyblog likes this.
shin7829 is online now   Reply With Quote
Old 28-07-2019, 02:36 AM   #1474
Master Member
 
m1kid85's Avatar
 
Join Date: Jan 2005
Posts: 2,736
Too many existing ECs around with better location in Punggol.

Even after 10 years If wanna sell the most can cover interest payment only.

Dun think much about profit.
sgpropertyblog likes this.
m1kid85 is offline   Reply With Quote
Old 28-07-2019, 02:51 AM   #1475
Senior Member
 
Join Date: Aug 2011
Posts: 2,267
According to the sales numbers of another agent, round 400 units sold, is it correct?

If this sales numbers are correct, the market is telling you that this EC is not only not cheap, but also too expensive. And if the next EC is selling at higher prices, they will probably struggle to sell..
Ec sales on day 1 of launch if can have more than 30% is good already. Suggest you look at past EC sales before you comment. From tampines trillant to wandervale to even rivercole, most EC will take until the 3rd year to get sold out.
birmingham123 is offline   Reply With Quote
Old 28-07-2019, 06:03 AM   #1476
Senior Member
 
Join Date: Nov 2007
Posts: 955
Ec sales on day 1 of launch if can have more than 30% is good already. Suggest you look at past EC sales before you comment. From tampines trillant to wandervale to even rivercole, most EC will take until the 3rd year to get sold out.
Good a not is relative.
It might have reached a price point where most people are not willing or not able to fork out more. I fall into second category, of "not able".

Followed your advice and looked at last few ECs around the area.
Rivercove 2.5X oversubscribed, 80% sold on first day
Hundred Palms 5.4X oversubscribed, 100% sold on first day
Treasure Crest 2.1X oversubscribed, >70% sold on first day

Will be interesting to see how The Ola Ec will perform next at a similar psf price point, especially given it is near hospital and surrounding 3 ECs all ard $800 psf.
sgpropertyblog likes this.
momoeagle is offline   Reply With Quote
Old 28-07-2019, 07:12 AM   #1477
Senior Member
 
Join Date: Nov 2014
Posts: 923
So some of these people who have never take action yet will become one of the bear's league and always talk down the property market.

That time, 2 years ago, this forum ppl keep saying 100 palms was way overpriced at $850($100 above all other ECs), facing hospital, jam at yck road, far from mrt (the new mrt line not announced yet), nearby relslae pc selling low price, how can ppl below 14k income can afford 1mil+ EC, 9 out of 10 saying not going for ballot (then sold out in one day?!???) etc etc etc...

2 years later, wth 100 palms suddenly under priced? Will this happen again in 2, 3 years?

still remembered ppl say all those yishun EC at $750 overpriced, before 100 palms sold out...

And many said rivercove sold at $950 is crazy...

So what’s now?
sgpropertyblog likes this.
Clazav is offline   Reply With Quote
Old 28-07-2019, 07:16 AM   #1478
Senior Member
 
Join Date: Nov 2014
Posts: 923
The rule is always "others can buy high but you yourself cannot"

If people are afraid to buy higher, then you will never get to sell the EC at a higher price anyway

Then no need talk about making profits from property at all. All the gains you have are on paper but cannot be realised into usable cash at all.

Think about that

So do you want people to be scared of buying higher?
Clazav is offline   Reply With Quote
Old 28-07-2019, 07:17 AM   #1479
Junior Member
 
Join Date: Apr 2011
Posts: 93
Can share which r the existing ECs with better locations in punggol? Other than mayb Prive.

Too many existing ECs around with better location in Punggol.

Even after 10 years If wanna sell the most can cover interest payment only.

Dun think much about profit.
sgpropertyblog likes this.
Path-Finder is offline   Reply With Quote
Old 28-07-2019, 07:24 AM   #1480
Senior Member
 
Join Date: Jun 2019
Posts: 535
Its about 372 units sold by the time i left the showflat ard 8pm.. super tired ady.. congrats to all those who managed to get a unit here.. all i can say is, even with this current pricing,there will still be room for profit in future with the transformation tht Punggol has in the pipeline....( jus my humble opinion, no right , no wrong).. this will set the benchmark for the upcoming ECs in future.. one thing for sure, this project will be fully sold, just the matter of how long ? Rivercove took about 3 months to fully sell, prob this one will take ard 5-6 mths?its anyones’s guess.. btw, still got last 6 slots for 2nd timers quota!
sgpropertyblog is offline   Reply With Quote
Old 28-07-2019, 07:32 AM   #1481
Senior Member
 
Join Date: Jun 2019
Posts: 535
Too many existing ECs around with better location in Punggol.

Even after 10 years If wanna sell the most can cover interest payment only.

Dun think much about profit.
Different ppl will hv different perceptions of ‘good’ location.. u may find Waterwoods next to Global Intl Sch is a good location, but others will find Riverparc next to LRT is better location.. all depends ..

Just fyi, riverparc which just MOPed,also saw profit of $2xxK.. i think i ady posted the recent transaction here bfore..

Piermont which is walking distance to Punggol MRT n Punggol Digital District and LRT at doorstep, good location or not? Up to each individual to see ba whether this fits their needs or not?
sgpropertyblog is offline   Reply With Quote
Old 28-07-2019, 07:42 AM   #1482
Senior Member
 
Join Date: Jun 2019
Posts: 535
So some of these people who have never take action yet will become one of the bear's league and always talk down the property market.
This shows that the market is going forward , imagine Sg is just a tiny island with limited land..what is there to justify for lower land price bid in future? and also, our money is getting smaller.. example, last time movie ticket only costs $6.50 each, now its $13.. but this is life, things move forward.. either we take it or leave it.. if we find $13 for one movie ticket is expensive, then stay home watch Netflix lor.. if we find EC too expensive, then stay in HDB lor..
sgpropertyblog is offline   Reply With Quote
Old 28-07-2019, 07:49 AM   #1483
Senior Member
 
Join Date: Jun 2019
Posts: 535
cheaper ec is confirm have depending on location.
At this moment , dont have( new EC, not resale EC).. even the last bounced out units at Rivercove 2-3 months back were transacted at $10xxpsf ady... oso fully sold within few hours.. the next one at Anchorvale, can the price be lower than Piermont? We will hv to wait til next year to find out.. but based on my experience, it is very unlikely that the price will be lower than Piermont. But of cos, i can be wrong..
sgpropertyblog is offline   Reply With Quote
Old 28-07-2019, 08:01 AM   #1484
Senior Member
 
Join Date: Jul 2019
Posts: 639
Heard that the sale of Piermont Grand also had a spillover effect to the sales of Florence and RF, where a number of units were sold yesterday. In time to come, I believe this EC sales (which was considerably good in today’s buyers market) would also have an effect on future EC prices next year.
Passerboy is offline   Reply With Quote
Old 28-07-2019, 08:15 AM   #1485
Senior Member
 
Join Date: Jan 2005
Posts: 1,284
Its about 372 units sold by the time i left the showflat ard 8pm.. super tired ady.. congrats to all those who managed to get a unit here.. all i can say is, even with this current pricing,there will still be room for profit in future with the transformation tht Punggol has in the pipeline....( jus my humble opinion, no right , no wrong).. this will set the benchmark for the upcoming ECs in future.. one thing for sure, this project will be fully sold, just the matter of how long ? Rivercove took about 3 months to fully sell, prob this one will take ard 5-6 mths?its anyones’s guess.. btw, still got last 6 slots for 2nd timers quota!
I would think 45% sold on first day for Piermont grand is rather impressive given its price point and with so many mass market condo competing against sumang. Not forgetting these mass market condos have price gaps that’s quite close to this EC.

From business and profit point of view, There is no need for CDL to achieve 100% sales in one day and follow hundred palms’ mistake by selling at 8xxpsf. CDL has the advantage because it has hundred palms and river cove to be used as previous case studies to gauge EC buying sentiments.
__________________
[SIZE=1]Ng[/SIZE]

Last edited by NiShiZhu; 28-07-2019 at 08:32 AM..
NiShiZhu 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