New EC at Sumang Walk

windwaver

High Supremacy Member
Joined
Apr 28, 2000
Messages
26,002
Reaction score
75
The next few launches sites aren't good as well to be honest.. tampines ave 10, imagine priced at 1k plus PSF, santorini, alps, qbay etc are just slightly older and selling at the same price.

Same thought for tampines, I think it's getting really over priced but I still see demand. Thus, it's not surprising it's happening for Punggol as well.
 

Passerboy

Supremacy Member
Joined
Jul 5, 2019
Messages
6,088
Reaction score
335
Same thought for tampines, I think it's getting really over priced but I still see demand. Thus, it's not surprising it's happening for Punggol as well.

That’s the sad truth, 16xx psf was once upon a time you can get a CCR D9/10/11 property. But now can only get RCR and OCR.
 

frigatex

Member
Joined
Mar 13, 2007
Messages
216
Reaction score
21
Reading all the comments, I think at the end of the day, everyone here is simply speculating on consumer sentiments. Ultimately, sentiments cannot always be rationalised. Why do people prefer new launches even with higher price tag? Why do some prefer staying punggol instead of more central locations? Nobody can really explain sometimes.

Yes, punggol property is unlikely to climb beyond those in central regions, but whether piermont will sell higher than now will depend on what happens to the economy in the next 7-8 years right? Again, one can only speculate what happens in the future.

Maybe some just want to stay in a younger town, now equipped with rather good amenities. Maybe they want a new property (not just on the interior but also the exterior), yet wouldnt want to spend their life savings on something much more expensive in a central location. Really, it takes only 30 min by public transport to get from any fringe areas to town in Singapore after all.

One thing at least I feel is a plus point for punggol, is how neat the town feels compared to many others. Despite more flats being built there, it still doesnt feel as cluttered as some other towns (e.g. tampines, clementi, jurong).

Just feel that everyone shouldnt be so absolute in their opinion here, just have to share a objective view and watch how the sales turn out.
 

ynwa00

Junior Member
Joined
Jul 23, 2019
Messages
5
Reaction score
0
I am actually an EC owner who bought a unit in Punggol after staying in HDB (Punggol) for more than 10 years. Initially I wanted to buy Prive EC in 2013 but due to unforeseen circumstances, I did not buy. And that time, the resale price of 5 room was very high in this area.
Thinking back, if I have sold my HDB in 2013, I would have earned an additional $150k. In the end, I only sold it in 2017 and although still earned a profit but was $150k lesser. I would have finished off paying the loan within a year.
Having say that, the EC which I bought in 2017 did not have resale levy and I am relieved to buy it at $800 psf thinking back now.
 

SBC

Arch-Supremacy Member
Joined
Mar 19, 2001
Messages
15,807
Reaction score
106
I am actually an EC owner who bought a unit in Punggol after staying in HDB (Punggol) for more than 10 years. Initially I wanted to buy Prive EC in 2013 but due to unforeseen circumstances, I did not buy. And that time, the resale price of 5 room was very high in this area.
Thinking back, if I have sold my HDB in 2013, I would have earned an additional $150k. In the end, I only sold it in 2017 and although still earned a profit but was $150k lesser. I would have finished off paying the loan within a year.
Having say that, the EC which I bought in 2017 did not have resale levy and I am relieved to buy it at $800 psf thinking back now.

So brilliance! Why dun the rest had followed then?

Let’s see how many hours will this EC be sold out ?
 

1993newbie

Supremacy Member
Joined
Jun 19, 2018
Messages
5,607
Reaction score
138
Just FYI, the second plot of EC in Canberra is here. (circled)
V1UxIPD.jpg
 

ahboy82

High Supremacy Member
Joined
May 28, 2008
Messages
46,416
Reaction score
507
Sumang walk cfm good sales de la

Punggol households r usually young n affluent

I hav 3 couple frens staying there with hh income 16k n above, all lamenting to me y sumang walk was not avail earlier!!!

Plus its branded CDL!! A sign of top notch quality.

Buy now or regret later. Dun say I nvr recommend hoh. Next time 15xx for EC liao dun come cry father cry mother!!!
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
Sumang walk cfm good sales de la

Punggol households r usually young n affluent

I hav 3 couple frens staying there with hh income 16k n above, all lamenting to me y sumang walk was not avail earlier!!!

Plus its branded CDL!! A sign of top notch quality.

Buy now or regret later. Dun say I nvr recommend hoh. Next time 15xx for EC liao dun come cry father cry mother!!!

Please recommend all your good friends to buy sumang ec.

If next time ec $1,500psf, it means our other properties will be $3,000psf. Lets see who laughs louder.
 

sgpropertyblog

Senior Member
Joined
Jun 6, 2019
Messages
1,996
Reaction score
42
I always wanted to ask you this question but keep forgetting.
You mentioned sumang has around 1600 applicants.
What about Rivercove that time? Do u still recall?
Because this may give us some hints how this sumang ec will perform. Thanks.


:( sorry, cant recall the exact numbers lioa..
 

sgpropertyblog

Senior Member
Joined
Jun 6, 2019
Messages
1,996
Reaction score
42
Just like you, there are many punggol hdb residents go and kaypoh and see see only without any intention of buying but got coerced by agents to do e-app. Hence I would say the 1600 is actually a low number of e-apps as half will not be buying.

of cos.. no doubt about tis.. sometimes buyer just submit for the sake of knowing the pricing, once price comes out, sure will have some that 'drop-out'.. a very conservative figure, even if half drop-out, still got about 800 applicants.. =:p
 

sgpropertyblog

Senior Member
Joined
Jun 6, 2019
Messages
1,996
Reaction score
42
I am actually an EC owner who bought a unit in Punggol after staying in HDB (Punggol) for more than 10 years. Initially I wanted to buy Prive EC in 2013 but due to unforeseen circumstances, I did not buy. And that time, the resale price of 5 room was very high in this area.
Thinking back, if I have sold my HDB in 2013, I would have earned an additional $150k. In the end, I only sold it in 2017 and although still earned a profit but was $150k lesser. I would have finished off paying the loan within a year.
Having say that, the EC which I bought in 2017 did not have resale levy and I am relieved to buy it at $800 psf thinking back now.

Glad that you took action back then...those that kpkb about the prices back then, will still be kpkb-ing til now .. and nothing has changed except for the prices and regulations.. back then the stamp duty for $1M property n up is only 3%, now it has gone up to 4% ( not that it makes a lot of difference la, but yet its still money )
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
of cos.. no doubt about tis.. sometimes buyer just submit for the sake of knowing the pricing, once price comes out, sure will have some that 'drop-out'.. a very conservative figure, even if half drop-out, still got about 800 applicants.. =:p

The is the best I can get. Over 1,500 e-applicants for 628 units (2.5times) and 80% sold on launch weekend at avg 965psf.
Piermont with 820 units is 2 times oversubscribed. Taking into account that piermont is almost 200psf more expensive than rivercove, the sales may be lower. There are only that many irrational buyers in the market that will bite at whatever price.
https://www.propertyguru.com.sg/property-management-news/2018/4/170901/rivercove-residences-ec-oversubscribed-2-5-times
https://www.businesstimes.com.sg/real-estate/rivercove-residences-ec-units-80-sold-at-average-s965-psf
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
Glad that you took action back then...those that kpkb about the prices back then, will still be kpkb-ing til now .. and nothing has changed except for the prices and regulations.. back then the stamp duty for $1M property n up is only 3%, now it has gone up to 4% ( not that it makes a lot of difference la, but yet its still money )

Actually who kpkb last time? You all creating your own stories for your own benefit and entertainment? Last time did prices surge over 40% in less than 1.5 years? :o
 

windwaver

High Supremacy Member
Joined
Apr 28, 2000
Messages
26,002
Reaction score
75
Reading all the comments, I think at the end of the day, everyone here is simply speculating on consumer sentiments. Ultimately, sentiments cannot always be rationalised. Why do people prefer new launches even with higher price tag? Why do some prefer staying punggol instead of more central locations? Nobody can really explain sometimes.

Yes, punggol property is unlikely to climb beyond those in central regions, but whether piermont will sell higher than now will depend on what happens to the economy in the next 7-8 years right? Again, one can only speculate what happens in the future.

Maybe some just want to stay in a younger town, now equipped with rather good amenities. Maybe they want a new property (not just on the interior but also the exterior), yet wouldnt want to spend their life savings on something much more expensive in a central location. Really, it takes only 30 min by public transport to get from any fringe areas to town in Singapore after all.

One thing at least I feel is a plus point for punggol, is how neat the town feels compared to many others. Despite more flats being built there, it still doesnt feel as cluttered as some other towns (e.g. tampines, clementi, jurong).

Just feel that everyone shouldnt be so absolute in their opinion here, just have to share a objective view and watch how the sales turn out.

That's what I've been advocating as well. Having worked in the real estate sector as an analyst before; there are also strong opinions among the sector, some of them have even appeared on public TV.

Within the sector, there are also couple of us that are well aware that nothing is certain; We have seen enough data to know that.

Why I quoted Bishan in my earlier post is because that is 1 of many examples that proved me wrong when I first started as an analyst .

Ironically, after decades and tons of data, I realized the strongest drive of a market are from forces behind the scenes most of the time.

It's good that people share opinions but don't take it too seriously if there are plenty of other opinions.
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
That's what I've been advocating as well. Having worked in the real estate sector as an analyst before; there are also strong opinions among the sector, some of them have even appeared on public TV.

Within the sector, there are also couple of us that are well aware that nothing is certain; We have seen enough data to know that.

Why I quoted Bishan in my earlier post is because that is 1 of many examples that proved me wrong when I first started as an analyst .

Ironically, after decades and tons of data, I realized the strongest drive of a market are from forces behind the scenes most of the time.

It's good that people share opinions but don't take it too seriously if there are plenty of other opinions.

You are right. Take the article below for example. Eonomists and analysts get it wrong most of the time. So take even the most qualified analysts' words with a pinch of salt.

Recession forecasts are so bad, they're good
https://www.straitstimes.com/opinion/recession-forecasts-are-so-bad-theyre-good
 

birmingham123

Master Member
Joined
Aug 3, 2011
Messages
2,681
Reaction score
0
Please recommend all your good friends to buy sumang ec.

If next time ec $1,500psf, it means our other properties will be $3,000psf. Lets see who laughs louder.


I think gap become EC and private condo won't be so big. If so big, that makes resales EC a good buy. I am waiting to buy the EC at buangkok MRT once my mop is up after 3 more years..
 

annetyu

Banned
Joined
May 17, 2018
Messages
1,650
Reaction score
1
I think gap become EC and private condo won't be so big. If so big, that makes resales EC a good buy. I am waiting to buy the EC at buangkok MRT once my mop is up after 3 more years..

Your mean resale esparina? There are no ec launch at buangkok mrt.
 

sgpropertyblog

Senior Member
Joined
Jun 6, 2019
Messages
1,996
Reaction score
42
Actually who kpkb last time? You all creating your own stories for your own benefit and entertainment? Last time did prices surge over 40% in less than 1.5 years? :o


I was involved in those EC in Punggol as well, from the first one aka Prive til Riverparc.. those buyers that came to view all kpkb, cos they were comparing ancient history's EC that used to be $3xx-4xxpsf.. .. create my own stories? lols.. I wish i'm that creative..

price surge over 40% in less than 1.5yrs? you referring to Rivercove vs Piermont ? now that's a funny story .. as shown in the graph, the March 2018 was referring to Rivercove.. and you can see the average psf back then was ady $969psf.. surge 40% = $1356psf ?? :s22: is Piermont selling at $1356psf?


ec.jpg
[/url][/IMG]

source from squarefoot.com.sg .. not my own creation hor
 
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