Copen Grand EC

[kiatme]

How will the latest cooling measures affect the sales response? MSR at 30% is already very tight and with interest up by 0.5%…BL will be cut by 40-60k.
Will this affect the pricing plan of developer?

Developer have 3years+ more to sell, cooling measure is a temporal thing. It might impact the developer in their pricing strategy because it is ridiculously hard for buyers to even get the loan required to buy an EC. Poor sales at start doesnt' really impact the developer much anyways.

As for pricing.. This one you have to ask developer directly liao haha, hopefully they sell cheaper lor. Huat ah!!

 

[yun10]

Guess even harder now due to the decrease of max loan amount unless cash rich.

 

[CaptainSGP]

Developer have 3years+ more to sell, cooling measure is a temporal thing. It might impact the developer in their pricing strategy because it is ridiculously hard for buyers to even get the loan required to buy an EC. Poor sales at start doesnt' really impact the developer much anyways.

As for pricing.. This one you have to ask developer directly liao haha, hopefully they sell cheaper lor. Huat ah!!

I think 1 reason why the sales is moving so slow is because many are waiting to consider Tengah & Tampines EC pricing first before committing.

Clearly they are not convinced (and rightly so) by agents pitch saying that Tengah & Tampines EC will be much more expensive because land price is more expensive.

 

[Man_U#1333]

I think 1 reason why the sales is moving so slow is because many are waiting to consider Tengah & Tampines EC pricing first before committing.

Clearly they are not convinced (and rightly so) by agents pitch saying that Tengah & Tampines EC will be much more expensive because land price is more expensive.

Are you referring to the slow sales in North Gaia EC? I’m also interested to see the pricing for Copen Grand and Tenet.
This round of cooling measure is affecting the HL amount which means more cash top up required. Developer either build smaller like copen grand to offer 2 bd or be less greedy and price it lower.
Honestly with 16k income can only get bank loan of 1.0x mil. Now with 4% I think 16k can only get 1mil, need to have big cash warchest to buy.
But den again with land price of 600-650psf …pricing will be 13xx-1400psf right? cannot be launching same as north gaia ba??

 

[yun10]

Were the last lands bidded too high?

The previous sentiments were that EC sure win, hence, the developers seem to bid higher and higher, but not sure if they considered the income ceiling and max loan. Now with the higher interest floor, it makes loan even lower. So should developers lower price to sell more with less profits or wait and hope HDB increase income ceiling?

The last tender price seem to come down a little. Maybe the next tengah land tender can also provide some insights as well.

 

[Man_U#1333]

Were the last lands bidded too high?

The previous sentiments were that EC sure win, hence, the developers seem to bid higher and higher, but not sure if they considered the income ceiling and max loan. Now with the higher interest floor, it makes loan even lower. So should developers lower price to sell more with less profits or wait and hope HDB increase income ceiling?

The last tender price seem to come down a little. Maybe the next tengah land tender can also provide some insights as well.

Qingjian-Santarli JV bids a record $662 psf ppr for EC site at Bukit Batok West

CDL is top bidder for EC site at Bukit Batok West Ave 5 at $626 psf ppr in Sep 2022.

Will raising income ceiling for ec slap themselves for cooling the market? This will increase the pool of buyers and make developer bid for higher land price Becos of the guarantee demand for ec?
Hope that developer price lower with lesser profits haha

 

[yun10]

If copen grand sales super good, then maybe nothing to do with income and loan problem.

But also wonder.. will copen interested buyer wait and see how tenet will do? Maybe worried buying EC at the highest price? People say will get higher and higher, but with the current income ceiling, how high can EC price goes then?

 

[haido80]

Does the 15 months wait rule applies for EC owners downgrading?

From https://www.straitstimes.com/busine...r-private-property-owners-moving-to-hdb-flats

Quote: To moderate demand in the HDB resale market, a wait-out period of 15 months for current and former owners of private residential property to buy a non-subsidised HDB resale flat will be imposed from Sept 30 onwards

EC is not considered private property until after 10 years right? So if sell after 5 years MOP but before 10 years, this 15 months wait to buy resale HDB will not apply?

 

[Man_U#1333]

Does the 15 months wait rule applies for EC owners downgrading?

From https://www.straitstimes.com/busine...r-private-property-owners-moving-to-hdb-flats

Quote: To moderate demand in the HDB resale market, a wait-out period of 15 months for current and former owners of private residential property to buy a non-subsidised HDB resale flat will be imposed from Sept 30 onwards

EC is not considered private property until after 10 years right? So if sell after 5 years MOP but before 10 years, this 15 months wait to buy resale HDB will not apply?

EC after 5 years MOP but not 10 years should be considered as HDB ba…since cannot sell to foreigner and still under HDB regulation.

 

[Robertcarrot]

EC is not considered privatised if below 10 years. So rightfully selling before the 10 year mark u can buy hdb immediately and no need wait 15months. Can double check with agent.

 

[SG SUPERMAN]

Does the 15 months wait rule applies for EC owners downgrading?

From https://www.straitstimes.com/busine...r-private-property-owners-moving-to-hdb-flats

Quote: To moderate demand in the HDB resale market, a wait-out period of 15 months for current and former owners of private residential property to buy a non-subsidised HDB resale flat will be imposed from Sept 30 onwards

EC is not considered private property until after 10 years right? So if sell after 5 years MOP but before 10 years, this 15 months wait to buy resale HDB will not apply?

I think the new rule apply to EC as well, if you look at the HDB website conditions after buying EC, they have the same rules as private property that don’t allow EC owners to buy subsidised home with a 30mths waiting period.. if EC is still considered a HDB after 5yrs before 10yrs then this rule should not apply as well

so since this rule which is same as private property owners applies, I believe the new 15mths wait will apply as well

better to check with HDB if you are concern by this new rule

https://www.hdb.gov.sg/residential/...ve-condominium/conditions-after-buying-for-ec

 

[halfnode]

I think the new rule apply to EC as well, if you look at the HDB website conditions after buying EC, they have the same rules as private property that don’t allow EC owners to buy subsidised home with a 30mths waiting period.. if EC is still considered a HDB after 5yrs before 10yrs then this rule should not apply as well

so since this rule which is same as private property owners applies, I believe the new 15mths wait will apply as well

better to check with HDB if you are concern by this new rule

https://www.hdb.gov.sg/residential/...ve-condominium/conditions-after-buying-for-ec

agree, it should apply. Frankly EC is just govt way of subsiding people that cannot afford full condo but earn too much for BTO.

 

[BernardWYF]

How will the latest cooling measures affect the sales response? MSR at 30% is already very tight and with interest up by 0.5%…BL will be cut by 40-60k.
Will this affect the pricing plan of developer?

outlook no good .... this EC sale perhaps will see low application ... and probably pricing will only go down after the opening sales ..... better wait and see

 

[Oftheseas]

EC after 5 years MOP but not 10 years should be considered as HDB ba…since cannot sell to foreigner and still under HDB regulation.

Cannot sell to foreigners, so still consider HDB ? Landed also cannot sell to foreigners = HDB ?

Currently, EC already have the same 30-months wait-out ( as with private condos) before sellers can apply BTO/subsidies flats.
So this new 15-months wait-out will also apply to ECs.

 

[yun10]

Seem like buy EC really need alot of cash.

First is limited loan. Then if add in 15 mths wait, this would mean need even more cash to be able to rent first or to buy another resale condo. I assume some or most will have limited savings in normal circumstances, since paying EC loan, with family most likely and below certain income ceiling.

Anyway, maybe it's just temporary.. no one knows what will come later. Or wait until 55 then sell lor.

 

[haido80]

outlook no good .... this EC sale perhaps will see low application ... and probably pricing will only go down after the opening sales ..... better wait and see

Ya agreed better to wait and see for this EC. It's quite unlucky the new measures coming out now just before the launch. Might be too late for developers to make much adjustment. Anyway near by this EC there are 2 more Bt Batok ECs coming up.

 

[SBC]

Pte Residential
Current - 30 years loan tenure, $10k income, 3.5%, loan up to $1.244m
Revised - 30 years loan tenure, $10k income, 4.0%, loan up to $1.152m
EC
Current - 30 years loan tenure, $10k income, 3.5%, loan up to $668k
Revised - 30 years loan tenure, $10k income, 4.0%, loan up to $628k
HDB
Current - 25 years loan tenure, $10k income, 3.5%, loan up to $599k
Revised - 25 years loan tenure, $10k income, 4.0%, loan up to $568k

Initial loan duration for EC & Pte is at 30 years max?

Or is it at 25 years?

 

[Man_U#1333]

Initial loan duration for EC & Pte is at 30 years max?

Or is it at 25 years?

30 years max….unless u are v old la haha

 

[yun10]

https://www.channelnewsasia.com/sin...nt-tengah-keppel-club-walking-cycling-2987866

Not sure if this is good or bad..

 

[halfnode]

https://www.channelnewsasia.com/sin...nt-tengah-keppel-club-walking-cycling-2987866

Not sure if this is good or bad..

It’s good. But if a person is die die anywhere must drive then need to reconsider their lifestyle