[GLGT]Executive Condo launches in the pipeline to test new highs of $1,700 psf

[toolbox03]

https://www.edgeprop.sg/property-news/executive-condo-launches-pipeline-test-new-highs-1700-psf

New record land rate, new selling price threshold​

Novo Place’s benchmark price will likely be surpassed by Sim Lian Group’s future project at Tampines. The developer submitted a top bid of $475 million or $768 psf ppr for the EC site at Tampines Street 95, according to the tender results on Oct 24.

The top bid of $768 psf ppr has already exceeded the previous record land rate of $729 psf ppr set by a Qingjian Realty-led consortium for an EC plot at Jalan Loyang Besar in Pasir Ris in August.

The Tampines Street 95 site is within walking distance of the Tampines West MRT Station on the Downtown Line and can potentially yield 560 new EC units. According to Mark Yip, CEO of Huttons Asia, based on the land rate of $729 psf ppr for Jalan Loyang Besar and $768 psf ppr for Tampines St 95, the selling prices of these upcoming EC projects are likely to hit $1,700 psf.

 

[Forever84]

According to edmw condo price will crash

 

[toolbox03]

Need to incease income ceiling soon

 

[surfman]

Can sexpert advise me why will people want to buy new ec at this price rather than resale ec which are like around 1500 psf and no income ceiling

 

[usarmy]

Can sexpert advise me why will people want to buy new ec at this price rather than resale ec which are like around 1500 psf and no income ceiling

Rich middle class have ready cash in bank nothing to do, will help their children to pay off for property ... This is exactly how China property work, parent help children fry property


Sent from EDMWER!

 

[dnsfpl]

few years ago EC were selling at $768 psf
now land price already $768 psf lol

anyway soon there will be no demand for EC liao
those who wanna buy cant afford due to income ceiling
those who can afford aka have $1m+ cash & CPF rather buy better condo or landed

 

[surfman]

Rich middle class have ready cash in bank nothing to do, will help their children to pay off for property ... This is exactly how China property work, parent help children fry property


Sent from EDMWER!

I understand how people afford the ec new launch price cos got a lot of people made money from bto and use to buy ec…
What I don’t understand is why people choose to buy more expensive flat that need to wait rather than resale ec which is like 5-10 years old, can move in immediately. Anyway now new ec also at bird no lay egg place.

 

[Iop]

Quite hard to buy

You either earn too much or your savings not enough

EC got loan capp compare to condos

 

[BaChorMee]

Economic & property sexperts pls come in

 

[-nyox-]

Seems likely income limit will have to be raised for EC. MSR limits only allows $900+k loan at max.

 

[2_sillies_trap]

Because in 10 years MOP the ec will commands premium price in the open market while the resale ec depreciate like milk already.

房子是用来炒的，不是用来住的。

Rich ppl are forwards thinking one.

 

[Pearce]

No one can afford to buy EC anymore, unless they got a lot of hard cash

 

[Dudick]

I understand how people afford the ec new launch price cos got a lot of people made money from bto and use to buy ec…
What I don’t understand is why people choose to buy more expensive flat that need to wait rather than resale ec which is like 5-10 years old, can move in immediately. Anyway now new ec also at bird no lay egg place.

Virgin vs Used, what you think

 

[buttbERry]

so many want to buy EC...

 

[yesman2978]

I understand how people afford the ec new launch price cos got a lot of people made money from bto and use to buy ec…
What I don’t understand is why people choose to buy more expensive flat that need to wait rather than resale ec which is like 5-10 years old, can move in immediately. Anyway now new ec also at bird no lay egg place.

They want to haolian they own private property

Resale hdb is still pleasant status in their eyes, which are growing at the top of their heads

Nevermind that the ECs are smaller than their original hdb they 'traded up' for

 

[surfman]

Virgin vs Used, what you think

Then how come same logic don’t apply to bto??

 

[noname2016]

They want to haolian they own private property

Resale hdb is still pleasant status in their eyes, which are growing at the top of their heads

Nevermind that the ECs are smaller than their original hdb they 'traded up' for

He’s comparing resale ec vs new ec..

 

[yesman2978]

He’s comparing resale ec vs new ec..

Resale ec more expensive by a lot leh

New ECs are still govt public housing.

Resale EC, don't think many are selling before privatise. After privatise, will be priced as private properties liao, steep jump in price

 

[frotle009]

Should totally scrap the idea of EC. It is supposed to service as a bridge between HDB and condo but seemed to get more redundant with income ceiling and sky rocketing HDB prices. As income gap widens and middle class disappearing, just HDB for low ses or private for upper class, full stop.

 

[iceblendedchoc]

https://www.edgeprop.sg/property-news/executive-condo-launches-pipeline-test-new-highs-1700-psf

New record land rate, new selling price threshold​

Novo Place’s benchmark price will likely be surpassed by Sim Lian Group’s future project at Tampines. The developer submitted a top bid of $475 million or $768 psf ppr for the EC site at Tampines Street 95, according to the tender results on Oct 24.

The top bid of $768 psf ppr has already exceeded the previous record land rate of $729 psf ppr set by a Qingjian Realty-led consortium for an EC plot at Jalan Loyang Besar in Pasir Ris in August.

The Tampines Street 95 site is within walking distance of the Tampines West MRT Station on the Downtown Line and can potentially yield 560 new EC units. According to Mark Yip, CEO of Huttons Asia, based on the land rate of $729 psf ppr for Jalan Loyang Besar and $768 psf ppr for Tampines St 95, the selling prices of these upcoming EC projects are likely to hit $1,700 psf.

very cheap already let ec buyers earn lesser