New EC at Sumang Walk

[annetyu]

bingo!!! in next few years to come, many EC MOP-ing soon, but when u buy Piermont, you wont have this 'competition' when MOP, cos its the only EC for this year.. your competitors are probably Canberra new EC / Anchorvale new EC tat will MOP approx. 1-1.5yrs after Piermont ..

As usual, you view it however the way you like. There are valid points i acknowledge.

To me, it means cheap 5 year old(new) resale condos in punggol in 1-4 years time. Opening up many more options for home-seekers.

To sell piermont for a material profit, you will be looking to sell at $1,300psf. Will the market support that in 7 years? No ones knows. We are living on the assumption that property is guaranteed uptrend.

 

[Eraval]

Yes, wat potential does Canberra EC has over Piermont? but both are at the same pricing .. which one would u go for? but having said that, those grew up in Canberra or parents staying there, ultimately will go for it.. no right, no wrong..

Canberra has nothing over Piermont, distance to MRT is almost the same but PG has LRT nearer at least

Worse thing for these Canberra's EC to sell at same pricing is that the Condos and ECs in the area are selling for much much less, you can find good sized condos for $800psf, even lower depending on certain things

Nearby there are other ECs that will reach 5 years in about 2-3 years time, so why pay premium just because it is new? Rather whack the resale can utilise the value immediately, at a cheaper price

 

[sgpropertyblog]

Actually what you say is true. As a second timer myself I will need to pay $45,000 resale levy if I buy Piermont. By the time it TOP, my HDB price may drop further. It may be better to consider buying Luxurie if the psf $ is the same right? Luxurie is only 2-3 years old and opposite SK MRT.

I'm thinking of upgrading but the high psf and resale levy puts me off and also got phobia after reading the pasir gudang thing in an article. I'll wait for the EC in SK one and see how. I think I wait and wait wait until no need to buy liao. PSf $ will get higher and higher .

Not pushing you to buy Piermont, but just wondering.. you are waiting for the price to drop ? or waiting for more cooling measure to pop up? or waiting for the right project?

you are not the only one that are put off by the resale levy, understand your heartache as its hard earn money!! but then again, lets take $45k levy & $1M purchase price, its about 0.045% .. but ultimately, your EC price vs private condo new launch price is difference of about 20% .. so end of the day, still a saving right?


I can sense Annetyu will have something to say about my reasoning aka 'illogical sense' and ' trying to justify my reason'..

 

[Merg91]

EC investors?

Right now there's a huge demand coming from investors, given the catchment of potential tenants.

 

[annetyu]

I can sense Annetyu will have something to say about my reasoning aka 'illogical sense' and ' trying to justify my reason'..

You well know inside what I will say and what you truly feel. I shall save my few minutes.

 

[annetyu]

Canberra has nothing over Piermont, distance to MRT is almost the same but PG has LRT nearer at least

Worse thing for these Canberra's EC to sell at same pricing is that the Condos and ECs in the area are selling for much much less, you can find good sized condos for $800psf, even lower depending on certain things

Nearby there are other ECs that will reach 5 years in about 2-3 years time, so why pay premium just because it is new? Rather whack the resale can utilise the value immediately, at a cheaper price

One of the wisest member of the forum.

Yes, if buying for rental, 3 years of waiting can potentially earn you $90k in rental, making a weaker case for the new launches.

 

[Merg91]

Small is in because of the quantum. But many don't mind and accept it like most cities.

Condo comes with those sports facilities, covered carparks, gardening & security etc.
And check how much you pay for your covered car park + conservancy charges?

Anyway there are always some who don't use the facilitiest but other family members would use.

I'm talking about the small size in PG for a 3 bedder compared to a usual 4 room HDB, essentially the same thing ( but in this case the PG unit is smaller), you pay a premium to stay in a 'condo' but how often does one use the condo facilities?.

 

[annetyu]

Help to advertise abit..

https://www.straitstimes.com/business/property/piermont-grand-ec-open-for-applications-this-weekend

"Applications for Piermont Grand, the first executive condominium (EC) to be launched this year, will start this weekend, with bookings to be conducted on July 27."

"All apartments also come with a Haiku brand ceiling fan, Teka kitchen appliances, Grohe bathroom fittings, a wireless smart home system and more."

"It is also near the upcoming Punggol Digital District, which will house digitally focused companies, JTC business parks and the Singapore Institute of Technology's new campus."

"The marketing agents for the project are ERA, Huttons, OrangeTee & Tie and PropNex." - so many marketing agencies...

 

[1993newbie]

Yup, there are some of us that loves a location, don’t wanna stay away from parents etc.

My colleague whose BTO at Yishun that has just reached MOP is still waiting for the Canberra launch. Told him that the next plot of land will be another EC too.
So he say if he cannot get the Q1 2020 EC, he gonna try the next plot of EC.

Die die want a New EC. Either one of the launch also can as Long as new to him and family. Plus his parents stays at Yishun. So wanna be close to the parents. He don’t mind the construction waiting time coz he can stay at Parents Jumbo flat.

Yes, wat potential does Canberra EC has over Piermont? but both are at the same pricing .. which one would u go for? but having said that, those grew up in Canberra or parents staying there, ultimately will go for it.. no right, no wrong..

 

[Eraval]

Small is in because of the quantum. But many don't mind and accept it like most cities.

Condo comes with those sports facilities, covered carparks, gardening & security etc.
And check how much you pay for your covered car park + conservancy charges?

Anyway there are always some who don't use the facilitiest but other family members would use.

Ask those HongKees how they like their cages?



Again, I'm not stating small is bad, I'm saying the premium I have to pay for PG is not worth it, small at Piermont vs maybe a similarly priced HDB in Bishan which can be double the size, which side will I really experience a higher quality of living? Location and all amenities nearby included.



So my initial point was that I do not know why people want to pay a higher price to squeeze all inside a smaller apartment just because it's a condo. Sure, got facilities, but heck


Don't get me wrong ah, I'm looking at condos but I realistic, looking for units above 1500sqft for my family of 4, if cannot find anything of value (NOT THE CANBERRA EC), HDB is also ok mah

 

[skizzer]

"Piermont Grand is located near the Sumang and Nibong LRT stations and connected to the Punggol MRT station and bus interchange." From the same article.

What does "Connected to the Punggol MRT station" mean... lol

 

[annetyu]

"Piermont Grand is located near the Sumang and Nibong LRT stations and connected to the Punggol MRT station and bus interchange." From the same article.

What does "Connected to the Punggol MRT station" mean... lol

The LRT stations are connected to punggol mrt.

THey are playing with words, possibly to confuse buyers not familiar with the area.

 

[Merg91]

Small here doesn't mean like those in HK.
Most new one are still quite decent here for appropriate family size.

Undervalued 1500 Sq ft?

Ask those HongKees how they like their cages?

Don't get me wrong ah, I'm looking at condos but I realistic, looking for units above 1500sqft for my family of 4, if cannot find anything of value (NOT THE CANBERRA EC), HDB is also ok mah

 

[Eraval]

Small here doesn't mean like those in HK.
Most new one are still quite decent here for appropriate family size.

Undervalued 1500 Sq ft?

Lol, you keep cutting out sections of my post to suit yourself. Appropriate family size, a 3 bedder for a family of 4 is appropriate, siblings don't have to share rooms and parents have their own space. But you may define it differently, to each his own.


I didn't say undervalued, as long as it's of value, then why not? Look at Springhill in Sembawang, avg prolly about $500 psf, 2500sqft, near shopping centre and various eateries around you, ok mah, value lor


Anyway, maybe we define differently, I looking for own stay, not renting out, so again, to each his own

 

[Merg91]

Then what are you waiting for?
Why is it so 'undervalued'?

Look at Springhill in Sembawang, avg prolly about $500 psf, 2500sqft, near shopping centre and various eateries around you, ok mah, value lor

 

[sgpropertyblog]

Help to advertise abit..

https://www.straitstimes.com/business/property/piermont-grand-ec-open-for-applications-this-weekend

"Applications for Piermont Grand, the first executive condominium (EC) to be launched this year, will start this weekend, with bookings to be conducted on July 27."

"All apartments also come with a Haiku brand ceiling fan, Teka kitchen appliances, Grohe bathroom fittings, a wireless smart home system and more."

"It is also near the upcoming Punggol Digital District, which will house digitally focused companies, JTC business parks and the Singapore Institute of Technology's new campus."

"The marketing agents for the project are ERA, Huttons, OrangeTee & Tie and PropNex." - so many marketing agencies...

image upload

 

[sgpropertyblog]

Canberra has nothing over Piermont, distance to MRT is almost the same but PG has LRT nearer at least

Worse thing for these Canberra's EC to sell at same pricing is that the Condos and ECs in the area are selling for much much less, you can find good sized condos for $800psf, even lower depending on certain things

Nearby there are other ECs that will reach 5 years in about 2-3 years time, so why pay premium just because it is new? Rather whack the resale can utilise the value immediately, at a cheaper price

Totally understand where u r coming from.. resale can move in immediate, or rent out immediate.. but can the rental yield able to cover your capital appreciation? Lets say u buy resale now, rent out for 3 yrs and get $90k in rental .. how much do u think your new EC are able to profit after MOP? Less than $90k or more? But not forgetting, when u want to dispose off your resale property, can u still make profit ? Im not saying all resale property will lose money, need to see the project.. one resale project tat i feel still got potential is Sky Vue..

 

[Eraval]

Totally understand where u r coming from.. resale can move in immediate, or rent out immediate.. but can the rental yield able to cover your capital appreciation? Lets say u buy resale now, rent out for 3 yrs and get $90k in rental .. how much do u think your new EC are able to profit after MOP? Less than $90k or more? But not forgetting, when u want to dispose off your resale property, can u still make profit ? Im not saying all resale property will lose money, need to see the project.. one resale project tat i feel still got potential is Sky Vue..

Haha I know your question but then I buying for own stay mah, so I'm looking at 20-30 years of staying, thinking that far ahead, if I bought a 5 year old resale vs a new EC, that 5 years become almost negligible in the case of 25 years or 30 years old condo comparison liao

With EC, most who get the bigger units are normally for own stay I would guess? Smaller units are those who buy to rent out while staying with parents? Not so sure, but I just judging PG this time because this is its thread. To me if compare, PG bo hua lor, location not that good, price not that worth it considering there is a earning cap.


Sky Vue different, its location itself is a great selling point liao, 10-20 years on Bishan will still be central

 

[annetyu]

Then what are you waiting for?
Why is it so 'undervalued'?

Most people just see the news, look at the adverts, listen to property agents, so they only know about new launches and little about "hidden gems".

Rather than call resale undervalued, the new launches are overvalued. Simply because of land bids.

 

[d5dude]

Not pushing you to buy Piermont, but just wondering.. you are waiting for the price to drop ? or waiting for more cooling measure to pop up? or waiting for the right project?

you are not the only one that are put off by the resale levy, understand your heartache as its hard earn money!! but then again, lets take $45k levy & $1M purchase price, its about 0.045% .. but ultimately, your EC price vs private condo new launch price is difference of about 20% .. so end of the day, still a saving right?


I can sense Annetyu will have something to say about my reasoning aka 'illogical sense' and ' trying to justify my reason'..

45k is 4.5% of 1m, not 0.045%.

I know you property agent but you are pushing these new launches too hard, you don't even make any sense now.

New launch market is only a tiny fraction of the overall housing stock, its a poor indicator of the health of the property market, I think new sale market is only hot because agents like you are pushing them to people who cannot tell the difference between 0.045% and 4.5%.