New EC at Sumang Walk

Passerboy

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Let's say the condos are all the same psf but different years.

Will you pay $13xx psf for Sumang walk (10 yr property)
or $13xx psf for Parc Centros (17 yr property)

Parc Centros is even shorter walk to MRT, to bus interchange, and even nearer to a potential upcoming mall beside waterway point.

My thinking. Personally I can't decide between the two.

Parc Centro and Piermont grand is not a fair comparison.
Reason being Parc Centro is a PC, PG is an EC.
Parc Centro is 3 mins to Punggol MRT; PG I think 13 mins to MRT?

But, if we were comparing both, Parc Centro seems the better buy and it was completed in 2016. In 10 years time; doubt Parc Centro will be 13xx psf if Sumang Walk is 13xx psf, since it is better located, and you can’t really take the EC title away even after it is privatised.
 

tanjiakpeng

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Let's say the condos are all the same psf but different years.

Will you pay $13xx psf for Sumang walk (10 yr property)
or $13xx psf for Parc Centros (17 yr property)

Parc Centros is even shorter walk to MRT, to bus interchange, and even nearer to a potential upcoming mall beside waterway point.

My thinking. Personally I can't decide between the two.

good observation. my personal view for own stay would be parc centros. layout is functional, but as most 2016 TOP properties are...the balcony is huge.

i'm not sure if there is still room to run for pricing or if it will even reach $13xx given how much it has rallied. But, never say never.
 

birmingham123

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Considering that the last EC launch was in April 2018 (15 months ago) and this is the only EC launch in 2019 (no competition), I'd say the sales for this Sumang EC is bad.

15 months is a long time ago, so it's not surpising that there was a big pent-up demand for ECs, moreover this was the only EC launch for this year so there was no competition. Despite all these strong factors going for this Sumang EC, it only sold 48% and still has around 430 unsold units. The poor sales indicate that this Sumang EC is overpriced.

If you take into account factors like this is the only EC launch, of coz the the sale figures is considered bad due to the high pricing. But if you purely look at sales volume, this ec sale figures is much better than some of the EC launches in the past which are sold out before the top date. In short, Samsung ec will be sold out too in 1-2years based on historical data. I dun think all the buyers are stupid bah.. maybe just too rich..
 

Passerboy

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good observation. my personal view for own stay would be parc centros. layout is functional, but as most 2016 TOP properties are...the balcony is huge.

i'm not sure if there is still room to run for pricing or if it will even reach $13xx given how much it has rallied. But, never say never.

If we look at the pricing of Sumang vs pricing of Parc Centro and that Parc Centro is 3 mins to Punggol MRT, there is still room for growth. Once sengkang Grand is up, I may push up prices surrounding too.
 

tanjiakpeng

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If we look at the pricing of Sumang vs pricing of Parc Centro and that Parc Centro is 3 mins to Punggol MRT, there is still room for growth. Once sengkang Grand is up, I may push up prices surrounding too.

i would be cautiously optimistic but stop short for a bull call for parc centro. the land price of parc centro and sumang is very different to begin with. they both started from very different benchmarks. not forgetting the tenor of the projects would be vastly different.

however, i agree that pricing for parc centro should be able to form a support at the current levels
 

runforyourlife

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The truth is you’ll definitely earn from properties la. 1 dollar also consider earning. But how much are u looking at in e first place!
 

Passerboy

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:s11::s11::s11:

Parc Centro is now $11XX psf on average.

Some say EC will catch up with PC but now no? You say 7 years diff is huge diff but now no diff? :s11:

Idk, you have confused me. Once upon a time say Piermont good buy now flip here flip there :s11:

I said if we compare sumang walk EC to resale MOP EC at the same price, Sumang is the better buy. Indeed, 7 years is a long time but Parc Centro and Sumang is not a like to like comparison. Anyway it’s not 11xx psf too, it’s closer to 13xx psf.

Everywhere is a good buy if one have holding power, it’s pointed out long term can earn just how much one is looking for. Don’t be too greedy though.
 
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momoeagle

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i would be cautiously optimistic but stop short for a bull call for parc centro. the land price of parc centro and sumang is very different to begin with. they both started from very different benchmarks. not forgetting the tenor of the projects would be vastly different.

however, i agree that pricing for parc centro should be able to form a support at the current levels

Personally, I think the land price means little for resale.
I think land price matters a lot more for new launches.
 

momoeagle

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If you take into account factors like this is the only EC launch, of coz the the sale figures is considered bad due to the high pricing. But if you purely look at sales volume, this ec sale figures is much better than some of the EC launches in the past which are sold out before the top date. In short, Samsung ec will be sold out too in 1-2years based on historical data. I dun think all the buyers are stupid bah.. maybe just too rich..
I think we have to compare with the market at the point in time.

In this case, it just means that the market is not as bad as the bad sales ECs that you mentioned, but not as good as it should be because of high pricing.
 

momoeagle

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Parc Centro and Piermont grand is not a fair comparison.
Reason being Parc Centro is a PC, PG is an EC.
Parc Centro is 3 mins to Punggol MRT; PG I think 13 mins to MRT?

But, if we were comparing both, Parc Centro seems the better buy and it was completed in 2016. In 10 years time; doubt Parc Centro will be 13xx psf if Sumang Walk is 13xx psf, since it is better located, and you can’t really take the EC title away even after it is privatised.

Which then means in your opinion, that Sumang is not as good a buy as Parc Centros because Parc Centros will likely more gain.
 

momoeagle

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good observation. my personal view for own stay would be parc centros. layout is functional, but as most 2016 TOP properties are...the balcony is huge.

i'm not sure if there is still room to run for pricing or if it will even reach $13xx given how much it has rallied. But, never say never.

I personally think Sumang is priced high high to make nearby Buangkok high price PC look relatively cheaper to drive sales. Price is always relative.

Don't forget that these two are from the same developer.
 

birmingham123

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I think we have to compare with the market at the point in time.

In this case, it just means that the market is not as bad as the bad sales ECs that you mentioned, but not as good as it should be because of high pricing.

Reminds me of the tampines trillant launch way back more than 5years ago. Average psf for that project should be around 800psf. Sales is quite slow and I was hesitant to buy it as I believe that EC price was on the high side and I was waiting for a discount as I thought that the sales was quite bad for that project. I was wrong as units was selling month on month and eventually it got sold out. I then purchase a sales of balance flat from HDB and I thought it was a good buy not realising that sales of balance flat was marked up quite alot from the bto pricing. Fast forward now, I believe tampines trillant appreciate more than my current HDB..

I will think that this time sumsung ec will sell out even faster than trillant but dun think the price will appreciate much in time to come. probably a good buy to stay but not a good buy to sell for a profit in time to come
 
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Merg91

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One PC TOP in 2016 & another one EC TOP in 2023?
Comparing Fuji apple with Sunkist orange? :o

Almost all who bought new launches in 2012 definitely had 'good buy' compared with 2019 'good buy'.
 
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hbms1969

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Reminds me of the tampines trillant launch way back more than 5years ago. Average psf for that project should be around 800psf. Sales is quite slow and I was hesitant to buy it as I believe that EC price was on the high side and I was waiting for a discount as I thought that the sales was quite bad for that project. I was wrong as units was selling month on month and eventually it got sold out. I then purchase a sales of balance flat from HDB and I thought it was a good buy not realising that sales of balance flat was marked up quite alot from the bto pricing. Fast forward now, I believe tampines trillant appreciate more than my current HDB..

I will think that this time sumsung ec will sell out even faster than trillant but dun think the price will appreciate much in time to come. probably a good buy to stay but not a good buy to sell for a profit in time to come
Hmmn. As much as I understand what you are saying; its also "dangerous" to think this way because it may create a FOMO mentality in which you may rush in to buy a property that is on the high side now then regret it.

I have a colleague who was in your position. Was waiting and waiting for prices to drop then he followed his gut and waited it out, in the end the prices were to high so he "compromised" and bought a resale and then now rues the chance of making more profit if he bought the condo.

I would think that this is still a valuable lesson for oneself to stick to your guns.

I believe recession is down the corner and i think its gonna be a matter of time before prices tank and it will be a beautiful opportunity to pick something nice up.
 

sgpropertyblog

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I know, you will show selected historical data that new launch all sold for profit. And selected resales sold for no profit.

nope, there's more to it.. no point showing something that everyone can easily find online themselves...
 

momoeagle

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Reminds me of the tampines trillant launch way back more than 5years ago. Average psf for that project should be around 800psf. Sales is quite slow and I was hesitant to buy it as I believe that EC price was on the high side and I was waiting for a discount as I thought that the sales was quite bad for that project. I was wrong as units was selling month on month and eventually it got sold out. I then purchase a sales of balance flat from HDB and I thought it was a good buy not realising that sales of balance flat was marked up quite alot from the bto pricing. Fast forward now, I believe tampines trillant appreciate more than my current HDB..

I will think that this time sumsung ec will sell out even faster than trillant but dun think the price will appreciate much in time to come. probably a good buy to stay but not a good buy to sell for a profit in time to come

Not sure about you, but for my time was HDB vs Esparina, 325k vs 700k purchase.

Given my financial capability at that point in time, while the monetary gain would be more, the percentage gain is less, and is even lesser if compared to the extra loan that I would have taken. And would even be lesser if I included other components like what I did with the extra cash. I actually benefitted a lot more from not going with the EC as first timer.

Next, have to consider this... You only truly earn if you sell it and get something similar for a lower price. If I were to get an EC back then, we wouldn't even be able to consider the EC now by selling the HDB at a profit. EC holders either have to buy another private property (pay just as high) or buy a resale (help bto buyers earn) if they sell.

Which means... you can hold a million dollar property, but it doesn't mean you will be able to really truly "earn".
 

Merg91

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Recession or crisis are nothing new.

If the recession is in, many would find their flats lose value /potentially l jobless.
And they believe MAS / Lawrence Wong would do nothing.

Many who missed the boat earlier invariably are most fearful by then.
A drop of 20% creates more fear.
They would still dare not buy but want to 'buy' only if it drops another 20%.
When the boat leaves but sure to say it is a dead cat bounce / denial.

Looking back the longer trend the Singapore property trend, the earlier you buy, the better off you are.
 
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momoeagle

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nope, there's more to it.. no point showing something that everyone can easily find online themselves...
It's typically about some future transformation, how punggol will be home to SIT, and industrial hub, as well as one more MRT line on the far north west. And SIT being just a few streets away.

And maybe, just maybe, about seletar aerospace on the east side, although that's still a little far.

Then about the other transformation of the North South corridor.

And also to create the "scarcity" effect, share about land space in punggol and how other potential new condos or residential areas are in worse location, such that Sumang is the best possible location, because it is also at the waterfront.

Something like that 😉
 

momoeagle

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If the recession is in, many would find their flats lose value /jobless.

And believe MAS / Lawrence Wong would do nothing.

Many who missed the boat invariably are most fearful by then.
Drop 20% but still it may drop another 20%.
Boat leaving but sure say dead cat bounce / denial.

yes yes economy will never crash. Sg will never go into recession. Lawrence Wong is a super powerful minister that will ensure recession never comes to Singapore.

Huat ah! Majulah Singapura!
 
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