New EC at Sumang Walk

sgpropertyblog

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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.

agree with you.. every projects has its pros and cons.. very hard to find that is 100% flawless.. also its personal preference.. some ppl may like Hougang, but some may prefer Punggol.. so must do your homework carefully lor, which one suits you best..

some ppl find upgrading to PC not so ideal cos if you haven't sell your current HDB, you will need to upfront pay the ABSD first, then reimburse later.. but for EC, no need ABSD.. but some ppl prefer to buy PC as 2nd property as they dun need to sell off their HDB if they can afford .. so really depends on your needs
 

Passerboy

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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.

I thought usually people sell, then buy the EC and bunk somewhere else while (usually parents place- from my understanding) waiting for completion, that’s how they can upgrade.

I noticed a trend that people now sell their flats upon MOP and move to buy a EC or PC. On this note, I think there will be many more flats crossing the 1 mil threshold in about 3 years time, especially w location such as Kallang, whampoa, boonkeng.
 
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bojangle

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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.

ur colleague trying to smoke u? if remember correctly, 4 bedder is ard 1.1mil. which is patio units. Think he meant 850psf, that was the average selling price.
 

bojangle

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I thought usually people sell, then buy the EC and bunk somewhere else while (usually parents place- from my understanding) waiting for completion, that’s how they can upgrade.

I noticed a trend that people now sell their flats upon MOP and move to buy a EC or PC. On this note, I think there will be many more flats crossing the 1 mil threshold in about 3 years time, especially w location such as Kallang, whampoa, boonkeng.

provided the parent hse is big enough to accommodate a couple with 2 or 3 kids, all the stuffs to move over and stay for 4yrs.
 

Passerboy

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ur colleague trying to smoke u? if remember correctly, 4 bedder is ard 1.1mil. which is patio units. Think he meant 850psf, that was the average selling price.

Typo, 850psf. My bad, thanks for pointing out.
 

Path-Finder

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Thanks for ur info. I suppose 888k will be the one facing soka or sch 😁

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..
 

Path-Finder

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You spoke my mind. My cpf is pretty much stucked in my existing flat since i do partial repayment regularly. I will probably hav to fork out 300k cash if decided to go with Piermont. Very heart pain.

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. :s13:

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.
 

SBC

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How many had submitted your bookings online?
 

sukidexun

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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.

Usually the psf is X2 of the land sales.

The top bid of $509.37 million for the Sumang Walk plot works out to a record $583 per sq ft per plot ratio (psf ppr). It came from a joint venture between a City Developments (CDL) unit and TID Residential.
 

sukidexun

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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.

Bro, Riverfront Residences is not a v good location at all. Plus there's nothing much in the area. Last time i stayed beside it so i know. Its an opp party area. I heard many agents like to tell buyers that if you buy opp party area, next time you want to sell you cannot get good price.

As for this new Ec, its better in many ways. Govt is planning to transform it.
 

sukidexun

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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..

What others are referring is to the nearby condo. No new launch condo is at 1.1 or 1.2 unless u are talking about changi (maybe still got chance)
 

Zetrio2006

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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.

If psf starts from $1050 psf, then the average is possibly $1125 psf.

And don't forget these are 3BR/4BR/5BR in Piermont, RF also have some 3BR/4BR units still going at $12xx psf. (only 10% higher than Piermont)
 

sukidexun

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You spoke my mind. My cpf is pretty much stucked in my existing flat since i do partial repayment regularly. I will probably hav to fork out 300k cash if decided to go with Piermont. Very heart pain.

Bro, you heart pain now but it might be a blessing in disguise. You see years back. If our parents so smart can buy duxton, they can already retire liao lo.

Of cos you have to do your math n see how it goes.

Job stable bo?
Wife helping?
Current house worth?
Going for Big / small house?
Expenses?
How much you need to top up?

Of cos if you cant upgrade then nvm lo. What's the most important is thing is that dont chiong chiong chiong until later cannot pay.

Bank loan dont play around. Cannot pay means go under the hammer / fire sale liao.
 

weng

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

Some of riverfront typical 2br jun and jul transactions:

Price.......Area...Floor.....PSF
902,000 - 721 01 to 05 1,251 Jul-19
952,000 - 721 11 to 15 1,320 Jul-19
943,000 - 721 06 to 10 1,308 Jun-19
938,000 - 721 11 to 15 1,301 Jun-19
906,000 - 721 01 to 05 1,256 Jun-19
898,000 - 721 01 to 05 1,245 Jun-19
935,000 - 721 11 to 15 1,296 Jun-19

sure now 689sf going for 944k cheapest?
 
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Zetrio2006

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Some of riverfront typical 2br jun and jul transactions:

Price.......Area...Floor.....PSF
902,000 - 721 01 to 05 1,251 Jul-19
952,000 - 721 11 to 15 1,320 Jul-19
943,000 - 721 06 to 10 1,308 Jun-19
938,000 - 721 11 to 15 1,301 Jun-19
906,000 - 721 01 to 05 1,256 Jun-19
898,000 - 721 01 to 05 1,245 Jun-19
935,000 - 721 11 to 15 1,296 Jun-19

sure now 689sf going for 944k cheapest?

2 of the units (689 sf) going for 944k each
1 unit (689 sf) going for 931k

The 3 units above all have high ceiling @ living room (4.25m)
 

Path-Finder

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Thanks bro for the advice.

Generally shdnt b an issue on the loan n installment portion, its just that in order to downpay, will need to utilise majority of rainy day funds. So wifey not v comfortable with it.

Bro, you heart pain now but it might be a blessing in disguise. You see years back. If our parents so smart can buy duxton, they can already retire liao lo.

Of cos you have to do your math n see how it goes.

Job stable bo?
Wife helping?
Current house worth?
Going for Big / small house?
Expenses?
How much you need to top up?

Of cos if you cant upgrade then nvm lo. What's the most important is thing is that dont chiong chiong chiong until later cannot pay.

Bank loan dont play around. Cannot pay means go under the hammer / fire sale liao.
 

windwaver

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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..

Hougang isn't a 'matured' estate ;); you do property blogs?
 

annetyu

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To a certain extent, gotta thank property agents for pushing prices up.

Without them constantly brainwashing singaporeans, instilling fear of depreciation on resale properties, enticing them abt potential appreciation and opportunity cost of not grabbing new launch condos and encouraging the herd effect of just pumping up the market, we might not be where we are today.

haha Mr Tan, looks like the agents have successfully "brainwashed" you too.
 

annetyu

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Hougang isn't a 'matured' estate ;); you do property blogs?

He is trying to say hougang is more mature than punggol. Anyway "mature" or "non-mature" is just HDB's outdated way of classification. It has been a long time since they updated. Basically all the town further away from city are called "non-mature". He is right that hougang should be considered matured by now.
 

annetyu

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If psf starts from $1050 psf, then the average is possibly $1125 psf.

And don't forget these are 3BR/4BR/5BR in Piermont, RF also have some 3BR/4BR units still going at $12xx psf. (only 10% higher than Piermont)

Exactly, difference between ec and pc pricing is very low now.

$1125? Close to the $1130 that I predicted. If launch weekend sales are 60%, Ms Captain Huat really have to build temple for me alr :s13:.
 
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