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Propertynews 16-05-2019 07:52 PM

New EC at Sumang Walk
 
New EC launching at Sumang Walk

Piermont Grand (Sumang Walk EC) will be the only upcoming Executive Condominium launch in 2019. It will be developed by renowned City Developments Limited (CDL) and TID Residential.

CDL and TID are awarded the site, the JV will explore an EC project comprising 13 blocks of 10 to 17 storeys with about 820 units and a basement carpark. To maximise the scenic views, windows will be oriented towards Punggol Reservoir and My Waterway@Punggol. The sizable land area will also allow for generous landscaping.

cet87 17-05-2019 11:27 AM

WHEN SHOWROOM READY?

captain huat 17-05-2019 01:03 PM

WHATS THE PRICE?

fotoudavid 17-05-2019 01:22 PM

Got discount?

kiatme 17-05-2019 01:58 PM

everyone here so fierce.... haha

Clazav 17-05-2019 08:59 PM

Waiting for EC for a year, neck long and stiff liao..

andyhtc 17-05-2019 09:10 PM

Looking at the bid prices for this and next few ECs to be launched in 2019/2020, I can safely conclude that new ECs will be mostly launched from $1,000-$1,200 psf.

birmingham123 19-05-2019 06:42 AM

EC will sell out if price at 1100psf unless there is alot of new EC launch in the future or government change policy again.

For people earning between 12k to 14k and want a brand new house, HDB bto is not an option as appeal is v tough for exceed ceiling one. EC price at 1100 psf still cheaper than private condos which cheapest is at 1300psf.. so even if I can afford condo, I will still go for EC if I am eligible to take advantage. Can either stay long term or sell for profit in future once EC become private condo etc. Keep options open.

All cost are rising, labour or material cost, maybe bto price will slowly go up too... Cannot expect EC price always keep at 800psf ba... Unless today government one shot release 20 EC site for sales

PostCountWarrior[+1] 19-05-2019 07:20 AM

I rem a few years ago, propertyguru was writing a review about an EC i was interested in. they were really detailed, and wrote like current rent in area, expected rent etc. so long story short, they said rental yield could be around 3.5% plus, which at that time psf was around 750.

now I looked at those reports. they completely taken them out. which i suspect is because its really low and not good for marketing. assuming rental never change, a yield at 3.5% for 750 psf is 2.18% for 1200 psf and 2.4% for 1100 psf. Current mortgage rate assume a conservative HDB loan rate of 2.6% means rental <mortgage. so buyers just beware.

annetyu 19-05-2019 09:48 AM

3 bedder 950sqft. $1100sqft. $1,045,000. Still very affordable I must say, only thing you are sacrificing is your quality of life in that tiny unit. Too bad that we have given developers so much power.

No doubt rental yields will be low but agents can always change marketing tactic and continue psychoing buyers.

annetyu 19-05-2019 09:53 AM

There are actually 4 upcoming ECs plus one new site released for tender.. Not as scarce as many are describing. Wonder how much the site will sell for.

annetyu 19-05-2019 11:17 AM

“The overall lack of supply of EC units in the market has caused prices to increase by 24.7%, from $793 psf in 4Q2017 to $989 psf ppr last quarter, says Ong.”

$200psf increase in one year and another $100psf in half a year. That is 40% rise in a year and a half. Look at the numbers clearly. Better do your homework and think carefully before jumping into the queues.

AlanBB1414 19-05-2019 02:30 PM

Quote:

Originally Posted by annetyu (Post 120855258)
There are actually 4 upcoming ECs plus one new site released for tender.. Not as scarce as many are describing. Wonder how much the site will sell for.

Actually CDL paid more for the land for Sumang EC than for Tapestry. Tapestry sell at 13XXpsf. construction for EC is it that much cheaper in cost? can sell 30% cheaper although the land cost is slightly higher.

pippo20 19-05-2019 06:13 PM

Quote:

Originally Posted by AlanBB1414 (Post 120859578)
Actually CDL paid more for the land for Sumang EC than for Tapestry. Tapestry sell at 13XXpsf. construction for EC is it that much cheaper in cost? can sell 30% cheaper although the land cost is slightly higher.

Developers will ALWAYS maximise their profit. So what they got the land at cheap prices, still will sell at maximum market price that the public is willing to buy. Parc botannia land price is also $400+psf, much lower than all recent ec land price. They still sell at $1300psf, not a cent lesser. And how much they can save on construction of an ec before quality suffer and buyers complain haha.

cet87 21-05-2019 12:23 PM

The only worth EC is that hundred palm EC. location is much better.
Old EC will be the bishan loft.


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