Copen Grand EC

[Man_U#1333]

Agents sell this as first mover advantage and there are so many new upcoming Bto. Definitely will be the next punggol in years to come la. Also in 2023 we shd be seeing much higher psf with the inflation. 10 years ago ec psf ~700..today ~1300 liao. Cfm will be huat kuey in 2032 one… just that the how delicious and big is the huat kuey vs old school huat kuey taste and size…But still will huat one la…

 

[yun10]

The question is how high can it go with the income ceiling in place?

One side, they need to control the price (trying to cool the market), on another hand, people are complaining the EC price is out of the income ceiling.

So will the government increase to give in to the market / developer or ignore so that developer will be more prudent in land bidding and sales price, in a way control and bring down the prices?

But, to keep up with rising income and cost, sooner or later, income ceiling may be increased.
Maybe they just need to time it at the right time when it helps the citizens and at the same time doesn't further make the market hotter.

 

[n3v3rmind]

But wouldnt it be just nice?
Top dec 2027. + 5 mop before selling.. 2032. Timing is perfect!

If the existing cooling measure doesn't go away, have to sell and wait 15 months before buying hdb leh...

 

[Man_U#1333]

The question is how high can it go with the income ceiling in place?

One side, they need to control the price (trying to cool the market), on another hand, people are complaining the EC price is out of the income ceiling.

So will the government increase to give in to the market / developer or ignore so that developer will be more prudent in land bidding and sales price, in a way control and bring down the prices?

But, to keep up with rising income and cost, sooner or later, income ceiling may be increased.
Maybe they just need to time it at the right time when it helps the citizens and at the same time doesn't further make the market hotter.

Now it seems govt is making developer to be less aggressive in land bidding and take a lesser profit margin for pricing. The only way to cook the property mkt…price appreciation will still happen, but at a slower pace…until one day income will increase with rising cost of living…

 

[dang3008]

If the existing cooling measure doesn't go away, have to sell and wait 15 months before buying hdb leh...perso

Now it seems govt is making developer to be less aggressive in land bidding and take a lesser profit margin for pricing. The only way to cook the property mkt…price appreciation will still happen, but at a slower pace…until one day income will increase with rising cost of living…

Personally for me i will sell at 55 if its for retirement purpose... (if the 15months reg still around).. cause I am getting old

 

[CaptainSGP]

The question is how high can it go with the income ceiling in place?

One side, they need to control the price (trying to cool the market), on another hand, people are complaining the EC price is out of the income ceiling.

So will the government increase to give in to the market / developer or ignore so that developer will be more prudent in land bidding and sales price, in a way control and bring down the prices?

But, to keep up with rising income and cost, sooner or later, income ceiling may be increased.
Maybe they just need to time it at the right time when it helps the citizens and at the same time doesn't further make the market hotter.

1) Young couples in late 20s with large pay raise ahead in next few years can use their future income to get a higher loan quantum. DPS helps here.

2) HDB upgraders with a large sum of capital after selling their HDBs. Just rent in the meantime.

3) Family wealth or borrow from family etc.

4) High income family - One take a career break to have a lower ‘income’ to qualify for EC.

Property prices are going up because many local buyers are willing and able to pay higher prices.

Finally, EC income ceiling can and will be raised in the future.

 

[JJLim2020]

EC income ceiling was 10K about 10 years ago, now 16K, 60% increase... so by 2032 maybe around 22K to 24K liao

 

[yun10]

1) Young couples in late 20s with large pay raise ahead in next few years can use their future income to get a higher loan quantum. DPS helps here.

2) HDB upgraders with a large sum of capital after selling their HDBs. Just rent in the meantime.

3) Family wealth or borrow from family etc.

4) High income family - One take a career break to have a lower ‘income’ to qualify for EC.

Property prices are going up because many local buyers are willing and able to pay higher prices.

Finally, EC income ceiling can and will be raised in the future.

But these options seem like suggesting people still have ways to buy within the current income ceiling.

And, not sure if I interpreted correct, but looks like the bigger reason for increasing income ceiling is because property prices are rising.

Definitely, one day the income ceiling will raise, just thinking when is a good time.

Now raise, developer will definitely increase price higher, then also can bid higher for land.
If government is fighting inflation and trying to control the public housing prices, my guess is that the income ceiling will continue for some time to keep prices in check, until maybe they don't have KPI to control inflation and the hot market. But who knows? Maybe many people complain they will raise? Because I guess 1 of their KPI also public opinion. Haha..

 

[Man_U#1333]

For past 2 years cooling measures were introduced to counter the hot property mkt. govt will not slap own face and increase income ceiling now…unless statistic is showing property price is stagnant or increase is slower den inflation rate for maybe consecutive 4 quarters or more to justify increase in income ceiling…however govt will need to look at much bigger pic…income ceiling increase will apply to both HDB and EC respectively.
increase income ceiling will definitely boost buying power since all can secure more bank loan. Maybe govt shd just consider increasing the MSR for ec from 30% to 35/40%?

 

[momoeagle]

wow the 3 bedder looked so small and squeezy, especially the kitchen. So small.

 

[CaptainSGP]

But these options seem like suggesting people still have ways to buy within the current income ceiling.

And, not sure if I interpreted correct, but looks like the bigger reason for increasing income ceiling is because property prices are rising.

Definitely, one day the income ceiling will raise, just thinking when is a good time.

Now raise, developer will definitely increase price higher, then also can bid higher for land.
If government is fighting inflation and trying to control the public housing prices, my guess is that the income ceiling will continue for some time to keep prices in check, until maybe they don't have KPI to control inflation and the hot market. But who knows? Maybe many people complain they will raise? Because I guess 1 of their KPI also public opinion. Haha..

Wages have grown a lot & prices/inflation has grown a lot since 2019 when the ceiling was last revised.

Imo Govt will increase it to 18k & BTO to 16k sometime before next election. Number of EC GLS sites will also be increased to accommodate the higher demand.

 

[CaptainSGP]

wow the 3 bedder looked so small and squeezy, especially the kitchen. So small.

With modern equipments like Thermomix, Air fryer, multi purpose cooker, dishwasher etc, no need to have huge kitchen space anymore. Personally I prefer smaller kitchen cos cheaper

 

[marshmallow96]

With modern equipments like Thermomix, Air fryer, multi purpose cooker, dishwasher etc, no need to have huge kitchen space anymore. Personally I prefer smaller kitchen cos cheaper

I have all you mentioned except dishwasher cos no space to put! The various kitchen devices need to take out one at a time cos not enough counter space... Definitely need a bigger kitchen

 

[Man_U#1333]

I have all you mentioned except dishwasher cos no space to put! The various kitchen devices need to take out one at a time cos not enough counter space... Definitely need a bigger kitchen

Heck the toilet bowl in the maid toilet to put washing machine and dryer? Den dishwasher takes the place of the original washing machine location?

 

[CaptainSGP]

I have all you mentioned except dishwasher cos no space to put! The various kitchen devices need to take out one at a time cos not enough counter space... Definitely need a bigger kitchen

Integrated dishwasher under/beside the sink . Need access to water point.

If not enough countertop space, I would sacrifice the air fryer, and stop eating fried/air-fried food. Healthier meals also haha

 

[marshmallow96]

Integrated dishwasher under/beside the sink . Need access to water point.

If not enough countertop space, I would sacrifice the air fryer, and stop eating fried/air-fried food. Healthier meals also haha

My air fryer in storeroom already cos no space to use

 

[momoeagle]

I have all you mentioned except dishwasher cos no space to put! The various kitchen devices need to take out one at a time cos not enough counter space... Definitely need a bigger kitchen

My kitchen is large enough to put microwave oven, rice cooker, air fryer, baby bottle steamer, bottle warmer, water purifier, cup holders, and a corner with tea bags, coffee, and various other stuff. Still have space to do food preparation.

Can't imagine the hassle of one at a time.

Can imagine is good for people who aren't at home most times. But if not at home most times, buy so expensive not to enjoy?

 

[momoeagle]

My air fryer in storeroom already cos no space to use

use while placing on top of washing machine?

Only works for front load.

 

[marshmallow96]

use while placing on top of washing machine?

Only works for front load.

Dryer on top of washing machine bro

Anyway just a word to the bro here... If your wife says kitchen too small... Just nod and agree

 

[wetdreamx]

wow ... this afternoon the area beside lakeside mrt show flat full with potential buyers ... maciam like market queueing for cheap sale ..... cooling measures tak laksa one .... wow!

Way to go Singapore 6% interest incoming