New EC at Sumang Walk

Zze121

Supremacy Member
Joined
Dec 8, 2006
Messages
9,026
Reaction score
38
Le Fiesta launch price on average for 2013 was $1171psf, only 24 units cross $1300psf, and only 1 cross $1400psf, all these 25 units are those mickey mouse units which means quantum 500k and that 1400psf is 600k.


For Piermont Grand 820 units, there wouldn't be mickey mouse unit.
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
Le Fiesta launch price on average for 2013 was $1171psf, only 24 units cross $1300psf, and only 1 cross $1400psf, all these 25 units are those mickey mouse units which means quantum 500k and that 1400psf is 600k.


For Piermont Grand 820 units, there wouldn't be mickey mouse unit.

Saw some preliminary listings on srx. They will have 3,4,5 bedders. Normal 3-bedder is 850sqft. "Premium" 3-bedder 900+sqft. Still can sell for under $1m at high psf.

Surprised that they are no 2-bedders. They are probably targeting multi-generational families with 4 and 5 bedders.
 

windwaver

High Supremacy Member
Joined
Apr 28, 2000
Messages
25,833
Reaction score
32
Yup, u r absolutely correct.. Now when we looked back at Prive launching price, it’s very cheap.. but back then, everyone was also complaining tat Prive is very expensive as those days, $7xx PSF is considered high ady.. so fast forward 10 yrs later ... will we look back and say Sumang EC was launched as cheap price? We’ll never know... but all we can tell for now is , costs of living in Sg has increased over the years.. everything increased, except our pay..

Just to add, some may even have pay checks that have decreased over the years.

Being 'old' is Singapore is 40 onwards ;).
 

windwaver

High Supremacy Member
Joined
Apr 28, 2000
Messages
25,833
Reaction score
32
Market Trends (10 years) taken from Squarefoot

All HDB, all towns
48041067728_51a1a3b17a_b.jpg


All Landed, all districts
48041129237_d85e4cf7d3_b.jpg


All Non-landed, all districts
48041031256_eee4dd2529_b.jpg


Now you see which are the ones that are appreciating.
 

sgpropertyblog

Senior Member
Joined
Jun 6, 2019
Messages
1,949
Reaction score
27
just like rivercove lor. I went the rivercove launch ssrr, already knew i'm priced out of the $950 psf average

their target audience is 2nd timers and HDB upgraders.

1st timer 70% quota is for show nia, after initial launch all go to 2nd timers :(

The first-timer quota is only for 1 month.. if they have exceeded the 2nd timer quota, then gotta wait one month before the quota will be released
 

birmingham123

Master Member
Joined
Aug 3, 2011
Messages
2,680
Reaction score
0
The quartz was launched in 2006 and 3 bedder was around 5xxk. This translate to 4xx to 5xxpsf. Not 700psf. This project was advertised/endorsed by Chen Li ping back then in advertisement. I visited the showflat.
I don’t recall it transact at 1400psf in 2017 before. Mostly transact at 9xxpsf at most

I went in see the quartz at around 2007 or 2008 when it was about to top and developers still have units left it was selling 700psf already, din know it was cheaper earlier..

1400psf I am referring to La fiesta and I actually thought the quartz will be the same pricing. My bad on this.. din know only 900psf nia
 

KennyRogers

Member
Joined
Apr 29, 2019
Messages
120
Reaction score
4
Wait two more years will have three other ECs launching but for those who really like Punggol this is the only new one if your pockets are ready.

The location isn't fantastic though for the steep 1.1k-1.2k psf price. That said, there's space for price growth due to development of that area.
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
Wait two more years will have three other ECs launching but for those who really like Punggol this is the only new one if your pockets are ready.

The location isn't fantastic though for the steep 1.1k-1.2k psf price. That said, there's space for price growth due to development of that area.

Developments in punggol are only business parks and a "university". Did condos around changi business park seen good price growth?

The three other sites, next year will launch already, not "two more years" as Mr Kenny stated. Seng Kang Q1 2020, Canberra Q1 2020 and Tampines Q3 2020.

Tampines EC site overbidded for $578psf/ppr. With treasure at tampines not selling well at $1280psf, I don't see how to move this EC besides building pigeon hole units.
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
More and more fake news springing up during these challenging times...:o
 

Zze121

Supremacy Member
Joined
Dec 8, 2006
Messages
9,026
Reaction score
38
EC suppose to be 20% cheaper than surrounding resale PC?


For those units in the surrounding PC, their recent transacted price that hit 1.3k psf are mainly those MM from Parc Centro, suite & Soho units from Watertown.


PG doesn't offer such small and high ceiling units, will be fair to use ATT as a comparison, a 1.2k psf x 80% less is 960psf, sound reasonable even tho it's distance to MRT is even nearer. And ATT has only 2 units sold that cross 1.2k psf mark.


If the argument is mkt had been trending upwards, then why benchmark with a mixdev which is not an apple to apple comparison? Or MM units from Parc Centro?


In any case, the one who benefit are these PC.
 

NiShiZhu

Supremacy Member
Joined
Jan 27, 2005
Messages
5,538
Reaction score
286
I went in see the quartz at around 2007 or 2008 when it was about to top and developers still have units left it was selling 700psf already, din know it was cheaper earlier..

1400psf I am referring to La fiesta and I actually thought the quartz will be the same pricing. My bad on this.. din know only 900psf nia

No worries. I also didn’t know the developer increase the price to 700psf for remaining units in 2007/2008. Probably because of the enbloc frenzy that took place in 2007 as well.
 
Last edited:

Gambler.

Arch-Supremacy Member
Joined
Jul 13, 2008
Messages
12,225
Reaction score
117
Developments in punggol are only business parks and a "university". Did condos around changi business park seen good price growth?

The three other sites, next year will launch already, not "two more years" as Mr Kenny stated. Seng Kang Q1 2020, Canberra Q1 2020 and Tampines Q3 2020.

Tampines EC site overbidded for $578psf/ppr. With treasure at tampines not selling well at $1280psf, I don't see how to move this EC besides building pigeon hole units.

EC got pigeon hole units one ah? I kinda notice that all ECs minimum is 3BR
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
EC got pigeon hole units one ah? I kinda notice that all ECs minimum is 3BR

You are right, pigeon hole 3/4/5 bedder lor... :o

With this sort of price, I don't see a point for EC anymore.

Developers of this 4 EC projects can only hope for support from the kiasu and "euphoric" young first time condo- buyers.:o
 

birmingham123

Master Member
Joined
Aug 3, 2011
Messages
2,680
Reaction score
0
No worries. I also didn’t know the developer increase the price to 700psf for remaining units in 2007/2008. Probably because of the enbloc frenzy that took place in 2007 as well.

Actually when you mentioned the quartz sell at max 900psf when 1 of the new launch condo I visit is selling for 1400psf ( I remember it was la fiesta which is the last condo launch there right), I was surprised.. my impression is resales market will catch up to the new launch price especially those just top.. for example, got a friend who had a condo at amk hub, when it top, the price increase and catch up to those new launch nearby.. even after 2-3years after top, still got offer of 1400psf which match new launches price in bishan or st Nicholas there..
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
Actually when you mentioned the quartz sell at max 900psf when 1 of the new launch condo I visit is selling for 1400psf ( I remember it was la fiesta which is the last condo launch there right), I was surprised.. my impression is resales market will catch up to the new launch price especially those just top.. for example, got a friend who had a condo at amk hub, when it top, the price increase and catch up to those new launch nearby.. even after 2-3years after top, still got offer of 1400psf which match new launches price in bishan or st Nicholas there..

I think you mean jewel, not la fiesta. Neither of them launch for $1,400psf. Stop spreading fake news...

This time round, resale prices is still far far away from new launch prices. Does this not tell us something about the market? It is artificially driven by developers and has little to do with fundamentals.
 
Last edited:

NiShiZhu

Supremacy Member
Joined
Jan 27, 2005
Messages
5,538
Reaction score
286
Actually when you mentioned the quartz sell at max 900psf when 1 of the new launch condo I visit is selling for 1400psf ( I remember it was la fiesta which is the last condo launch there right), I was surprised.. my impression is resales market will catch up to the new launch price especially those just top.. for example, got a friend who had a condo at amk hub, when it top, the price increase and catch up to those new launch nearby.. even after 2-3years after top, still got offer of 1400psf which match new launches price in bishan or st Nicholas there..

La fiesta was never in the 1400psf range when launch though it has proximity to the mrt. Unless u are talking about Mickey Mouse units which I’m not sure.

“Resale market price will catch up to new launch price especially those just TOP”
This statement is only true for some but not true for others.

For example, eco at tenah merah was launched around 11xxpsf to 12xxpsf 6-7 years ago. But when it TOP in 2017, it’s current resale is around 14xxpsf. This is to match up the glades (just TOP) and grandeur park (both ard 1500psf) though it is still around 100psf cheaper than both.

Since we are now in sumang thread, let’s talk about sumang.
Why some bros here like newbie 1993 including myself brought up Prive as comparison is because that’s the closest comparison betw the two since both are EC located near Punggol central and not too far away from each other. Though Prive has some proximity advantage to mrt compared to sumang. Sumang is still walkable to Waterway Point though slightly further than prive.

Prive resale is currently at 9xxpsf (near 1kpsf) can never cross Parc centros (which is now 11xxpsf for normal size units, don’t talk about MM units). This is because Parc centros is a private condo and nearer to mrt compared to prive, also slightly newer.

Some bros feels that reasonable pricing for sumang should be around 9xxpsf judging its location. I agree but this will never happen because Prive (as a 9 year old EC) was already transacting at 9xxpsf and setting the benchmark.
How can a brand new condo like sumang at similar location transact at 9xxpsf? If I’m a EC buyer and really have to choose betw the two , I would go for sumang since I get a fresh lease if the price is at 9xxpsf. At least I get 7.5 years newer sumang EC than prive at same price.
So if CDL play smart, it should launch 10xxpsf to 1100psf to move units. Some will still bite because of the grant. But If 1200psf, wouldnt we be better off looking elsewhere for private condo in the 1300psf range since the difference is not big.

But then again, bro newbie 1993 pull out an important data showing prive resale transaction volume hit the highest last year and this may be a tell tale sign of some demands in Punggol central area. Buyers begin to accept prive at 9xxpsf.
Would sumang pull it through? It depends how it is priced.
Also interesting to note that Parc centros may look cheap after sumang’s launch.
With 60 new projects in the pipeline and CMs, it is also not surprising if sumang still don’t perform well.
Let’s sit back, relax and enjoy the show.
 
Last edited:

NiShiZhu

Supremacy Member
Joined
Jan 27, 2005
Messages
5,538
Reaction score
286
I think you mean jewel, not la fiesta. Neither of them launch for $1,400psf. Stop spreading fake news...

This time round, resale prices is still far far away from new launch prices. Does this not tell us something about the market? It is artificially driven by developers and has little to do with fundamentals.

Can u be more kind in your words instead of accusing him spreading fake news. He may have forgotten which condo he visited years ago.
This is a discussion thread, not your own playground. Correct each other and we move on.
 
Last edited:

birmingham123

Master Member
Joined
Aug 3, 2011
Messages
2,680
Reaction score
0
I think you mean jewel, not la fiesta. Neither of them launch for $1,400psf. Stop spreading fake news...

This time round, resale prices is still far far away from new launch prices. Does this not tell us something about the market? It is artificially driven by developers and has little to do with fundamentals.

Now you mentioned it, yes, should be jewel. It is the last project right ? So the surrounding projects which has not sold out did not increase price to 1400psf ?
 

Forever84

Supremacy Member
Joined
Mar 10, 2007
Messages
8,683
Reaction score
239
I never believe that EC got good capital appreciation because location is a major factor and EC all have bad location
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.
Top