New EC at Sumang Walk

sukidexun

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I'm seriously considering not showing up for the balloting, just waiting to see the developer's actual prices before making my decision.

My flat is in a better location than this EC and I'm in no hurry to get a new place, I will probably start looking at resale condos too.

you should turn up becos from there you can get first hand on the price and the premium stack for consideration + its near your place i assume. you also need to consult your agent to see what are the prices for the stacks you are looking at.
 

LeSaux

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ED0A0RM.jpg
 

birmingham123

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Based on the agents estimated prices for Piermont Grand, the price of the 4 beds unit (1367 sqft) is around $1.5M or more.

From your below transaction prices, it's $300K more than the recent MOPed resale unit price. And it's $600K more than the EC price bought in 2012.

The Piermont Grand is very overprice.

Hard to compare using EC history price as that is already in the past. Use as guideline but should compare against current market. In this case, agree that current mop resales market is a better buy.. was thinking as more buyers switch to buying resales market, the resales market definitely will go up as a whole once demand is there too..
 

sgpropertyblog

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Hard to compare using EC history price as that is already in the past. Use as guideline but should compare against current market. In this case, agree that current mop resales market is a better buy.. was thinking as more buyers switch to buying resales market, the resales market definitely will go up as a whole once demand is there too..

Yes, very hard to compare with last time.. last time bto n private prices oso lower.. now new bto / condo prices oso went up.. so new EC prices oso go up.. in tandem..

3bdrms price fr. $8xxK ... where to find new launch at same district at the same kind of price? Riverfront 2bedders oso $8xxk lioa..
 

annetyu

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Hard to compare using EC history price as that is already in the past. Use as guideline but should compare against current market. In this case, agree that current mop resales market is a better buy.. was thinking as more buyers switch to buying resales market, the resales market definitely will go up as a whole once demand is there too..

Price will go up on its own if market fundamentals are good. No need for developer bids and high asking prices to bring it up. This is why resales are playing catch-up now. It will take a few years for that to happen.
 

annetyu

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Yes, very hard to compare with last time.. last time bto n private prices oso lower.. now new bto / condo prices oso went up.. so new EC prices oso go up.. in tandem..

3bdrms price fr. $8xxK ... where to find new launch at same district at the same kind of price? Riverfront 2bedders oso $8xxk lioa..

I have a feeling now that my 60% sales estimate on launch day may be an overestimate... likely to be lower. I was too optimistic.
 

sukidexun

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Yes, very hard to compare with last time.. last time bto n private prices oso lower.. now new bto / condo prices oso went up.. so new EC prices oso go up.. in tandem..

3bdrms price fr. $8xxK ... where to find new launch at same district at the same kind of price? Riverfront 2bedders oso $8xxk lioa..

How can u as an agent like that compare? 2 room(MOP) compare to 3 room(havent even build yet) ? U must not forget that its about the size too. :(
 

sukidexun

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I have a feeling now that my 60% sales estimate on launch day may be an overestimate... likely to be lower. I was too optimistic.

This ec i think 90% chance it will be sold out but it depends on that individual who is buying it. There's other projects to look out for. I am sure that this ec confirm earn money but then you have to see how much n also is it for investment or own stay.
 

Passerboy

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Base on this indicative price, and a reputable developer CDL, I reckon the sales of this EC to be good, let’s see. The psf only starts at 1050psf there about, lower than the expected 11xx psf.
 

flame2000

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Base on this indicative price, and a reputable developer CDL, I reckon the sales of this EC to be good, let’s see. The psf only starts at 1050psf there about, lower than the expected 11xx psf.

The price don't make sense. If household income cap $14k, how many can afford the $1.5million EC?

Unless those self employed earning $30k a month but declared only $14k per month.
 

Zze121

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Rough estimate their PSF start from
840sf at $888k = $1057psf
1302sf at $1,340k = $1029psf
1432sf at $1,508k = $1053psf


Base on past EC projects price range, normally range within 200psf, estimate max around 1057+200 = 1257psf.


For loan, 30% of $14k = $4.2k
$4.2k x 12mth x 25years = $1,260k loan
$1.260k / 80% = $1.575k max value
Or 30yrs loan?
 

sgpropertyblog

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How can u as an agent like that compare? 2 room(MOP) compare to 3 room(havent even build yet) ? U must not forget that its about the size too. :(


Sorry? Dun understand u.. Riverfront is also a new launch( havent TOP) at Hougang.. 2bedders price $8xxK

Piermont Grand EC, new launch( havnt TOP) 3 bedders $8xxK oso..
 

Zze121

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Rough estimate their PSF start from
For loan, 30% of $14k = $4.2k
$4.2k x 12mth x 25years = $1,260k loan
$1.260k / 80% = $1.575k max value
Or 30yrs loan?

If is 75% loan at 30yrs
$4.2k x 12mth x 30years = $1,512k loan
$1.512k / 75% = $2.016mio max value
Up front max is $504k
75% will be their showstopper
Plus levy, stamp duties
 

Jelly8

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Can explain?
If is 75% loan at 30yrs
$4.2k x 12mth x 30years = $1,512k loan
$1.512k / 75% = $2.016mio max value
Up front max is $504k
75% will be their showstopper
Plus levy, stamp duties
 

annetyu

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Base on this indicative price, and a reputable developer CDL, I reckon the sales of this EC to be good, let’s see. The psf only starts at 1050psf there about, lower than the expected 11xx psf.

Looks like CDL is trying hard to be realistic in pricing but is constrained by its high land bid price.

Lets wait for actual sales numbers next weekend.
 

Zze121

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Can explain?

Correct me if I'm wrong.
Current bank loan is 75% of the ppty price
At income of 14k with MSR at 30%, monthly max loan is $4,200
Working backward with 30yrs loan tenure, max loan will be 1.5mio

But all this figure is loan amount, that's actually includes loan interest, thus the principal could be lower.
 
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