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OLA EC @ Anchorvale

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Old 24-02-2020, 09:28 PM   #256
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Ola even have linanxing being brand ambassador. Looks like really fierce marketing.
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Old 24-02-2020, 10:17 PM   #257
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Haha yes I just saw in on TV! Long time no see. You don't expect ola to be cheaper than Parc Canberra.. So much advertisement released..

Ola even have linanxing being brand ambassador. Looks like really fierce marketing.
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Old 24-02-2020, 10:22 PM   #258
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Haha yes I just saw in on TV! Long time no see. You don't expect ola to be cheaper than Parc Canberra.. So much advertisement released..
I would reckon they spent a lot of marketing and the finishing seems premium, but prices doesnít seem to be that high though similar to Parc Canberra.
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Old 24-02-2020, 11:56 PM   #259
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Agree. I really feel bad for those who bought Woodleigh Residences above $2000psf

You can say it's fair pricing considering how much they are bidding for the plot of land which is a fair point.

But to me as a buyer, I don't have to go along with it. If they want to bid high for the land, it does not mean we, as the consumers, should pick up the slack. We can choose to walk away.

And we should. As mentioned there are plenty of condos with better location, arguably better quality and make, 3-8 years old around that are on par or cheaper than a new launch. You can even view as much as you want before committing as opposed to buying from a floorplan or showflat.
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Old 25-02-2020, 07:39 AM   #260
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Which aunty are you referring to? Psoul? I can't stand her, the good thing she is doing is to continue to feed medicines to people who missed the boat and hoping for crash. This is like religion.

Sengkang grand land bid price was 923 psf, breakeven is about 14xx ish, selling at 16xx-17xx i feel is quite reasonable considering it is a mix development. The developer won't reduce the price any further unless the company is going burst or else they will suffer losses. Sooner or later, the prices are just going to increase.

Is SKG worth 1.6-1.8k PSF for a property in SK ? Just take a look 4 mrts down, park colonial as comparison, opposite mix development, during launch it was sold for 1.6k ish average, after it relaunch during phase 2 it is selling at 1.8k ish, just see the recent transactions, it is already creeping around 2k.

Just look at riverfront and parc botannia last transactions and see.

The market is slowly shifting, maybe sims villa/pasir ris mix development can help to curb the increase in prices, but its pretty evident that the existing launches prices will increase.

1.1k-ish for a new launch condo (OLA) ? Where else can you find ? Or be like aunty lor, wait and hope market crash then can one time swoop everything
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Old 25-02-2020, 07:43 AM   #261
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What is your opinion why tampines ec is more exp than ola?

I agree. I believe Tampines EC should be more expensive than OLa.
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Old 25-02-2020, 07:50 AM   #262
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What is your opinion why tampines ec is more exp than ola?
Tampines EC site is in a stretch of road where there are many private condos like Tapestry, Santorini etc. And the land bid for this EC plot is higher than that of Tapestry- 578psf vs 565psf. Taking reference from Tapestry prices 12xxpsf-14xxpsf, itís likely Tampines site avg psf to be closer to 11xxpsf given its EC status, but more ex than Ola who avg psf should be just about 1090psf (assuming close fit to Parc Canberra and Piermont Grand)
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Old 25-02-2020, 07:56 AM   #263
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Oh I see. Nice analysis. And the fact that this is an EC in a condo area make it more attractive. Just like people will try to avoid buying a condo in an area with many ec (for example the vales area)

Tampines EC site is in a stretch of road where there are many private condos like Tapestry, Santorini etc. And the land bid for this EC plot is higher than that of Tapestry- 578psf vs 565psf. Taking reference from Tapestry prices 12xxpsf-14xxpsf, it’s likely Tampines site avg psf to be closer to 11xxpsf given its EC status, but more ex than Ola who avg psf should be just about 1090psf (assuming close fit to Parc Canberra and Piermont Grand)
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Old 25-02-2020, 07:59 AM   #264
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Oh I see. Nice analysis. And the fact that this is an EC in a condo area make it more attractive. Just like people will try to avoid buying a condo in an area with many ec (for example the vales area)
Wrong,I feel in this case itís the opposite.

Tapestry would be a better buy, because the land bid of Tapestry is cheaper than that of the Tampinese EC, and its a condo w CDL developer status no less and itís new, so at a diff of jus $50-100psf, the P.C. would be better, you donít have to wait till MOP to sell, and a EC would always still have that ďstigmaĒ of being a EC compared to a full fledged condo.
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Old 25-02-2020, 08:12 AM   #265
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I actually expect the Tampines EC to be same pricing as Ola, as someone else pointed out, the price cap of 1.8mil has to take into account that a couple with the ceiling of 16k can only loan 1.07mil. If first timer means must top up 800k in cash/CPF. If second timer with a current BTO, still must top up around 300k to 400k adding on a resale levy of 40k-50k.

Unless they avoid 5 bedders totally, but I doubt they will cause the developers Hoi Hup sold out their 5 bedders at Parc Canberra easily, max price was about 1.65mil. So thinking for this Tampines de should be max 1.75mil bah, so pricing can't be too far from Ola
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Old 25-02-2020, 08:19 AM   #266
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I actually expect the Tampines EC to be same pricing as Ola, as someone else pointed out, the price cap of 1.8mil has to take into account that a couple with the ceiling of 16k can only loan 1.07mil. If first timer means must top up 800k in cash/CPF. If second timer with a current BTO, still must top up around 300k to 400k adding on a resale levy of 40k-50k.

Unless they avoid 5 bedders totally, but I doubt they will cause the developers Hoi Hup sold out their 5 bedders at Parc Canberra easily, max price was about 1.65mil. So thinking for this Tampines de should be max 1.75mil bah, so pricing can't be too far from Ola
Ola EC 5bedrooms are huge! Itís 5bedroom Penthouse at 1717 sqf compared to Parc Canberra 1453sqft. Hoihup may keep the floor size of the 5bedroom at Tampines EC small but still have it though.

You rightly pointed that cos EC works on the MSR terms, the loan quantum is much lower.
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Old 25-02-2020, 08:21 AM   #267
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Looks like will be fully sold within 2 weeks.
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Old 25-02-2020, 09:37 AM   #268
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Ola EC 5bedrooms are huge! Itís 5bedroom Penthouse at 1717 sqf compared to Parc Canberra 1453sqft. Hoihup may keep the floor size of the 5bedroom at Tampines EC small but still have it though.

You rightly pointed that cos EC works on the MSR terms, the loan quantum is much lower.


Ola 5 bedder well thought out mostly, its designed so that couples buying can expect their parents to move in together with them, thus making it easier to pay the price. Which also explains the facilities as well. I like it a lot but location is bad for me and I think I can't get it anyway cause sure kena snatched up quickly de

Resale it is
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Old 25-02-2020, 10:17 AM   #269
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You can say it's fair pricing considering how much they are bidding for the plot of land which is a fair point.

But to me as a buyer, I don't have to go along with it. If they want to bid high for the land, it does not mean we, as the consumers, should pick up the slack. We can choose to walk away.
Exactly. That's why I don't understand why agents keep saying "we have no choice but to pay higher and higher."

The choice is walk away from the craze.

Then again, being a poor man, I really have no choice but to walk away anyway.
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Old 25-02-2020, 10:21 AM   #270
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Actually ec not that unaffordable lah. My EC, I only down 200k cash and some cpf, the rest of the installations fully covered by cpf already. Based on assumption I need to work until at least 55.
Depends on quantum, which depends on unit size.

I don't want to squeeze into something smaller than a HDB 5 rm.
I care more about living space

If there are still new enough jumbo flats, I may even consider that. Problem now is beside a 5rm flat, is a 4rm flat, which is not possible to buy and merge into two unless HDB change their rules + neighbour willing to sell. It would have been so cool if it was allowed.
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