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Old 25-02-2020, 10:23 AM   #271
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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.
well its up to the buyer to buy or not to buy, you can choose to walk away and dun buy..but do you really think they prices will come down for the next launch that is in the same area?. from developer's point of view, they have no choice but to bid high in order to win the bid..especially those big guys.. when their land banks running low, they have to bid aggressively for the land..
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Old 25-02-2020, 10:52 AM   #272
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well its up to the buyer to buy or not to buy, you can choose to walk away and dun buy..but do you really think they prices will come down for the next launch that is in the same area?. from developer's point of view, they have no choice but to bid high in order to win the bid..especially those big guys.. when their land banks running low, they have to bid aggressively for the land..
But normal peasants can't tank the kind of prices they are bidding at. The wealthy will not buy this area. So who's going to buy? Buy already you will be stuck with an overly expensive unit.

For comparison's sake, the Vales EC and Bellewaters EC, both in the same cluster, were launched at an average of 780psf, due to record low land prices bidded by developer.

Consider that, and tell me you want to help the Ola developer tank their high land price.
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Old 25-02-2020, 11:01 AM   #273
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But normal peasants can't tank the kind of prices they are bidding at. The wealthy will not buy this area. So who's going to buy? Buy already you will be stuck with an overly expensive unit.

For comparison's sake, the Vales EC and Bellewaters EC, both in the same cluster, were launched at an average of 780psf, due to record low land prices bidded by developer.

Consider that, and tell me you want to help the Ola developer tank their high land price.
you are right.. wealthy ones will not buy EC and also not eligible to buy oso.. those normal ones oso canot afford to buy.. its meant for the sandwich class as the entry price is more affordable..

look at Parc Canberra.. they are higher price compared to Visionaire and BS.. oso can achieve good sales volume on launch day... this shows that there are still people who are willing to buy due to watever reason they have.. one thing for sure is, we cant turn back the clock to 5-10years back where the prices are much lower compared to now.. so whether on you want to buy or not, its your choice ba.. no one will force you to buy if you dunwan to buy right?
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Old 25-02-2020, 11:25 AM   #274
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you are right.. wealthy ones will not buy EC and also not eligible to buy oso.. those normal ones oso canot afford to buy.. its meant for the sandwich class as the entry price is more affordable..

look at Parc Canberra.. they are higher price compared to Visionaire and BS.. oso can achieve good sales volume on launch day... this shows that there are still people who are willing to buy due to watever reason they have.. one thing for sure is, we cant turn back the clock to 5-10years back where the prices are much lower compared to now.. so whether on you want to buy or not, its your choice ba.. no one will force you to buy if you dunwan to buy right?


From Parc Canberra sales, what I guess is families are choosing to squeeze together, meaning a new couple will stay with one set of parents together in there. Look at the take up rate of 4 and 5 bedders then look at the take up rate for 3 bedders. So if the couple's parents are retired but can sell their HDB to stay with the kids, then the price is not impossible liao



Location bad does not always means lose, location good also does not always means win.

https://www.propertyguru.com.sg/list...hard-boulevard

Above listing selling for $2mil discount. Make what of it you will.
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Old 25-02-2020, 11:52 AM   #275
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From Parc Canberra sales, what I guess is families are choosing to squeeze together, meaning a new couple will stay with one set of parents together in there. Look at the take up rate of 4 and 5 bedders then look at the take up rate for 3 bedders. So if the couple's parents are retired but can sell their HDB to stay with the kids, then the price is not impossible liao



Location bad does not always means lose, location good also does not always means win.

https://www.propertyguru.com.sg/list...hard-boulevard

Above listing selling for $2mil discount. Make what of it you will.
Parc Canberra is different. It’s location is good, since majority of ECs are in less central areas of the neighbourhood. In this case, Parc Canberra is in the heart of Canberra, where many amenities are springing up similar to Esparina Residence back in time.

If we compared to EC in less ideal locations w less ideal developers, then it may not be so true. What we see now are ECs by esteemed developers or are in rather good central areas.
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Old 25-02-2020, 12:47 PM   #276
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well its up to the buyer to buy or not to buy, you can choose to walk away and dun buy..but do you really think they prices will come down for the next launch that is in the same area?. from developer's point of view, they have no choice but to bid high in order to win the bid..especially those big guys.. when their land banks running low, they have to bid aggressively for the land..
Yes, so they charge higher, and Singapore being a land of rich people will have buyers out with their wallets ready to buy higher and higher and higher.

Because they have no other choice.

With this on-going mindset, of course those big guys will keep saying they have no choice but to bid aggressively for the land. After all, it is the buyers who are footing the bill for the aggressive land bid and are willing to do so, not the developers.

We already see the same effect in the buying of hand sanitizers and surgical masks.
People have "no choice" but to buy at outlandish prices because the importers got it at a higher price point.
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Old 25-02-2020, 12:52 PM   #277
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you are right.. wealthy ones will not buy EC and also not eligible to buy oso.. those normal ones oso canot afford to buy.. its meant for the sandwich class as the entry price is more affordable..

look at Parc Canberra.. they are higher price compared to Visionaire and BS.. oso can achieve good sales volume on launch day... this shows that there are still people who are willing to buy due to watever reason they have.. one thing for sure is, we cant turn back the clock to 5-10years back where the prices are much lower compared to now.. so whether on you want to buy or not, its your choice ba.. no one will force you to buy if you dunwan to buy right?
To me, it is no longer for the sandwich classes, given the closing up of prices between EC and PC. More for the upper upper upper middle class, almost near double the median household income.
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Old 25-02-2020, 07:10 PM   #278
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The gap is still about 15-20% right? Like maybe you can compare tamp ec with treasure? One is 1100psf, the other is 1300psf. Ola, Parc Canberra, Piermont somehow dont have a comparable private condo to compare with in the same period of launch.


To me, it is no longer for the sandwich classes, given the closing up of prices between EC and PC. More for the upper upper upper middle class, almost near double the median household income.
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Old 25-02-2020, 08:53 PM   #279
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The gap is still about 15-20% right? Like maybe you can compare tamp ec with treasure? One is 1100psf, the other is 1300psf. Ola, Parc Canberra, Piermont somehow dont have a comparable private condo to compare with in the same period of launch.
Maybe see it in another way.

EC launch prices has increased by 7.5% p.a. over past 5 years, vs 3.5% p.a. in median household income.


4% difference p.a. over 5 years is a lot! EC affordability has already dropped substantially. And still, we have "no choice".
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Old 25-02-2020, 09:36 PM   #280
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absolutely right.

second timer topping up 300-400k cash with a big loan after, not sure if it makes sense esp if the property does not appreciates.

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 26-02-2020, 12:31 PM   #281
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absolutely right.

second timer topping up 300-400k cash with a big loan after, not sure if it makes sense esp if the property does not appreciates.
lets assume price is $1M.. your downpayment is $277,600 (cpf/cash with the first $50k in cash)oni including Stamp Duty and legal fees..
even for first timers, they also pay the same downpayment
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Old 26-02-2020, 03:35 PM   #282
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lets assume price is $1M.. your downpayment is $277,600 (cpf/cash with the first $50k in cash)oni including Stamp Duty and legal fees..
even for first timers, they also pay the same downpayment
$1M is for a 925 sqft home, for $1080 psf.
Slightly smaller than a 4-rm HDB flat by about 75 sqft.
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Old 26-02-2020, 03:54 PM   #283
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Maybe see it in another way.

EC launch prices has increased by 7.5% p.a. over past 5 years, vs 3.5% p.a. in median household income.


4% difference p.a. over 5 years is a lot! EC affordability has already dropped substantially. And still, we have "no choice".
Yes. You are right. No choice if one is looking at new launches since this pricing is the norm now and people are still buying. And since you only prefer space, just look at resales jumbo unit lor. And that is another choice.
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Old 26-02-2020, 04:10 PM   #284
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Yes. You are right. No choice if one is looking at new launches since this pricing is the norm now and people are still buying. And since you only prefer space, just look at resales jumbo unit lor. And that is another choice.
People are still buying at these prices. That's why Singaporeans are really rich.

Man, EC launches should be raised further to $1200 or $1300 psf, and eventually even hit $1600 psf to be similar to SKG launch price, since people are willing to pay higher and higher.

Agents earn more since it is % commission, developers earn more. Buyers also have more paper gains. Everyone wins in this win-win situation!
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Old 26-02-2020, 05:16 PM   #285
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lol even with 16k combined income but with all the taxes and high living standard in singapore... ppl still can save so much money!!! good lah..
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