New EC at Sumang Walk

[Passerboy]

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.

I would think that base on updated indicative pricing, if one was looking to buy an EC at Punggol, he would opt for Piermont Grand over other resale EC that has MOP, given that the premium for this new launch ain’t much higher and the quantum is lower cos of its unit size.

Let’s see the sales figures.

 

[endlssorrow]

If this one fail, the next 3 EC also gone case..

Next 3 EC hard to say coz this project crash with many other condo

 

[birmingham123]

This launch will fail. Won’t get 80% also I think

Last time EC launch also seldom has 80% sales during launch. I remember tampines trillant take a like 2-3years to sell out.. even recent projects like brownstone etc also sold out when closer to top and they can even raise selling prices.

Only some EC which I think developers price it too low that it sell out quite fast - 100palm at 8xxpsf, treasure crest 7xxpsf and maybe wandervale at 8xxpsf..

 

[Path-Finder]

I am currently looking at this project. The indicative price for 3 bedder released by my agent to me yesterday was from 814k. It was revised to 888k today. Looks like CDL is expecting good sales on balloting day.

 

[Path-Finder]

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..

Whats the size of Riverfront 2 bedder? I think its a better comparision if we use floor area as the yardstick instead of bedder. Lets not forget that Piermont smallest 3 bedder is 78sqm...which to me is more realistic as a 2 bedder.

 

[Path-Finder]

I m in the same situation. U buying for long term stay?

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.

 

[endlssorrow]

Whats the size of Riverfront 2 bedder? I think its a better comparision if we use floor area as the yardstick instead of bedder. Lets not forget that Piermont smallest 3 bedder is 78sqm...which to me is more realistic as a 2 bedder.

One is private and one is EC
How to compare

 

[Path-Finder]

Thats y i m asking on the floor area of Riverfront 2 bedder. Mayb u dun get the rationale of me asking for the floor area when sgpropertyblog compares Riverfront and Piermont using only price and the number of bedder.

One is private and one is EC
How to compare

 

[sgpropertyblog]

Whats the size of Riverfront 2 bedder? I think its a better comparision if we use floor area as the yardstick instead of bedder. Lets not forget that Piermont smallest 3 bedder is 78sqm...which to me is more realistic as a 2 bedder.

Riverfront 2bedders 689sqft(64sqm) - $944K (cheapest unit at the moment,aft discounts )
Piermont 3 bedders 840sqft (78sqm) - $888K (price from )

 

[sgpropertyblog]

One is PC and one is EC lei

yes, understand your point.. what im trying to say is, EC price is much lower compare to PC.. as many ppl say the price of tis EC is the same as new launch PC ,might as well buy PC..

 

[sgpropertyblog]

I am currently looking at this project. The indicative price for 3 bedder released by my agent to me yesterday was from 814k. It was revised to 888k today. Looks like CDL is expecting good sales on balloting day.

Actually some agents underquote their clients as they are afraid might scare away the buyers.. the initial price given to us by the developer is all this while $1150psf average.. so now, its actually much lower than expected.. will have to wait til 25th to see the actual pricing, but surely will have units priced from $888k..

 

[annetyu]

yes, understand your point.. what im trying to say is, EC price is much lower compare to PC.. as many ppl say the price of tis EC is the same as new launch PC ,might as well buy PC..

One is punggol, other is hougang. How to compare also? Hougang supposedly more valuable than punggol...

 

[bojangle]

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.

current loan is 75%, during my time in 100palms was 80%.
i still remember based on 1mil budget, already need to fork out about 360 or 380k which include downpayment + 50k resale levy + stamp duty etc. That's why i decided to turn to elsewhere and get a young resale PC which i can use the 50k for reno, and with the same amount of approx 330K downpayment, can get even bigger unit. Bigger, better, faster.

also, dun want to take challenge to wait for 4yrs later and my flat resale price drop and also increased accrued interest to eat into my COV. Most impt point is that most upgraders valued their flat at today's market price, forgetting when 4yrs later, if their flat drop 50k to 80k, how?

now at 75%, upgraders need to be loaded with lots of cash. Easily 100k and provided cpf hv enough for downpayment that do not need further cash portion.

just find that EC do not favor upgraders, at least for me.

 

[tomylwc]

I am also looking at this ec for long term stay but in dilemma after reading this discussion. Seems like this is the only good thread about this ec. So here my 2 cents worth and hopefully can get more good advice.

Been staying nearby for a few years already, the smell only happen once this year due to the pasir gudang issue and it lasted about a month. So dont think it's an issue unless another big incident happens over there.

Punggol environment is nice to stay in if near wwp and the upcoming community and sports hub. With the nice npark and river running through.

Can seek advice on what possible pricing then this ec is worth buying?

 

[Passerboy]

current loan is 75%, during my time in 100palms was 80%.
i still remember based on 1mil budget, already need to fork out about 360 or 380k which include downpayment + 50k resale levy + stamp duty etc. That's why i decided to turn to elsewhere and get a young resale PC which i can use the 50k for reno, and with the same amount of approx 330K downpayment, can get even bigger unit. Bigger, better, faster.

also, dun want to take challenge to wait for 4yrs later and my flat resale price drop and also increased accrued interest to eat into my COV. Most impt point is that most upgraders valued their flat at today's market price, forgetting when 4yrs later, if their flat drop 50k to 80k, how?

now at 75%, upgraders need to be loaded with lots of cash. Easily 100k and provided cpf hv enough for downpayment that do not need further cash portion.

just find that EC do not favor upgraders, at least for me.

Just an afterthought, I thought EC favours HDB upgraders, cos after selling their HDB usually they will have a tidy profit, which means they have excess cash on hand, and thus contributing to the cash portion.

On hindsight, my colleague who bought 100 palms, they stayed in at the guys family side while awaiting the construction, but they are v happy cos they are sitting on huge paper gain. 850k 4 bedroom.

 

[bojangle]

Just an afterthought, I thought EC favours HDB upgraders, cos after selling their HDB usually they will have a tidy profit, which means they have excess cash on hand, and thus contributing to the cash portion.

On hindsight, my colleague who bought 100 palms, they stayed in at the guys family side while awaiting the construction, but they are v happy cos they are sitting on huge paper gain. 850k 4 bedroom.

you are right, that's provided u sell 1st and cash out to buy, then u hv loads of cash and fund to pay for the initial downpayment and fees and a place to stay. But, if you intend to sell only after EC completed, then the upfront payment is a challenge as most ppl, their cpf fund are used on current flat.

 

[Braun8]

I m in the same situation. U buying for long term stay?

I'm thinking of upgrading to a bigger place as my kids are becoming teenagers. But my flat has a much better location, moving to this EC will be a location downgrade. Based on the agents estimated prices of this EC, it's not attractive to buy so I may pass. What's more with all the bad economic news this month, it may be prudent not to rush to buy property. Who knows, Singapore may be in a recession by end of this year.

Just waiting to see the developer's actual prices before making the decision.
Besides looking at condos, another option is renovate my flat similar to 5 star hotel quality. If I don't buy a condo, I could retire a lot earlier.

 

[sgpropertyblog]

One is punggol, other is hougang. How to compare also? Hougang supposedly more valuable than punggol...

oh.. but hougang hdb median prices are lower compared to punggol..of course, hougang is a matured estate compared to punggol and also nearer to the city..

 

[Braun8]

One is punggol, other is hougang. How to compare also? Hougang supposedly more valuable than punggol...

Agree, Riverfront Residence has a better location and the area is not as crowded as Piermont Grand, and some of their units have unblock view and private lifts. And as PC, they don't have MOP restrictions.

 

[sgpropertyblog]

you are right, that's provided u sell 1st and cash out to buy, then u hv loads of cash and fund to pay for the initial downpayment and fees and a place to stay. But, if you intend to sell only after EC completed, then the upfront payment is a challenge as most ppl, their cpf fund are used on current flat.

there are many factors that u need to consider.. of cos EC may not be suitable for every upgraders.. so need to depend on your situation.. so its our job to find a best options for our buyers.. I don't insist my buyers die die must buy Piermont, its ultimately based on their situation n needs.. furthermore, bo guarantee sure can get a unit here , especially for 2nd timers cos of the quota..