New EC at Sumang Walk

[Merg91]

Waiting for an experienced newbie to say 'a few words'.

No need to be scared of paying higher for property..

 

[momoeagle]

If people are afraid to buy higher, then you will never get to sell the EC at a higher price anyway

Then no need talk about making profits from property at all. All the gains you have are on paper but cannot be realised into usable cash at all.

Think about that

So do you want people to be scared of buying higher?

 

[endlssorrow]

Got it at 1.28mil 7th floor pool facing at 1135psf. Really hot cakes. All 3 br premium gone.

Waa THt pretty steep
Highest whT level? Will cross $1.4m anot

 

[runforyourlife]

Not really.

The land price of some of the other plots are lower than this one.

Haha the buyers and agents of other areas will thank you in advance.

 

[endlssorrow]

Too many PC launch about the same time.
Only parc bontanic sold 80% at least liao

Well, I saw a report somewhere that based on URA statistics currently, almost 80% of PC new launches have less than 30% of units sold.

And another report also mentioned that one way developers could do to push up sales numbers at the new launches is to somehow issue options to purchase during the launch, let it lapse, and let it become a return unit. Sales numbers will look very very nice then.

I am still learning.

 

[peacefulday]

No need 5yr time. Luxury condo 1 bedded in OCR, near mrt, already in those range.

That was something I shared the exact sentiments about. But that is always retrospectively. No one would know that today an EC crosses 1xxx psf either.

In 5 years time, perhaps a 1 bedroom unit in OCR starts at 800k- 900k, given that 1 bedroom in some RCR locations are already close to 1 mil.

To those balloting tmr, all the best in securing your choice units!

 

[momoeagle]

Too many PC launch about the same time.
Only parc bontanic sold 80% at least liao

Currently 20k unsold units for all launches. More launching.

Good times.

 

[sukidexun]

First of all, congrats to all who manage to secure an unit.

For those waiting to see the end result, it doesnt really matter if you never buy. This EC doesnt represent how the market works.

The demand has always been there and ppl choose to live near their parents or love ones. Ec built at anywhere also got good sales de. Of cos whether its a good price or not, you have to do your homework n compare many many many properties including HDB.

They should generate how many % of buyers are from the same or nearby zone (Punggol). That might help to determine why the high / low sales.

 

[civicguy]

Got it at 1.28mil 7th floor pool facing at 1135psf. Really hot cakes. All 3 br premium gone.

Congratulations!!!

 

[Passerboy]

Currently 20k unsold units for all launches. More launching.

Good times.

But a lot of upcoming launches are in CCR and prime RCR area where prices are sky high, the next OCR launch to look out for is perhaps Parc Clematis and the mixed development at Buangkok.

 

[sgpropertyblog]

Not really.

The land price of some of the other plots are lower than this one.

Yes, the land bid price is slightly lower than sumang

Canberra - land price $558ppr
anchorvale- land price $558 ppr
Sumang - land price $583 ppr

After sumang land parcel, the developer is subjected to new ruling whereby they hv to pay Additional Stamp duty of 5%(Sumang no need to pay).. .. so ultimately, do u think dev will absorb the 5% or pass down to buyers?

 

[sgpropertyblog]

Still hav quota for 2nd timer? Or all pang kang liao?

As of 5.45pm , still got 7 slots for second timers

 

[Merg91]

-20% soon.

Currently 20k unsold units for all launches. More launching.

Good times.

 

[momoeagle]

Yes, the land bid price is slightly lower than sumang

Canberra - land price $558ppr
anchorvale- land price $558 ppr
Sumang - land price $583 ppr

After sumang land parcel, the developer is subjected to new ruling whereby they hv to pay Additional Stamp duty of 5%(Sumang no need to pay).. .. so ultimately, do u think dev will absorb the 5% or pass down to buyers?

I think hor.... for any business, you can only pass down to the buyers if the buyers are desperate to buy.

And one strategy to increase desperation is to keep making buyers fear missing out current prices due to future potentially higher prices.

But, when the agent presented it to me the same way, I just smile smile and say pass down to buyers, then easier to continue the sales presentation without interruption.

 

[momoeagle]

-20% soon.

-20% of that would be cool. But I don't know where you would base your figures and estimates on.

As a matter of fact, statistics from URA showed an increase from 17k unsold to 20k unsold between May and Jun 2019.

At least 30k more units launching soon till year 2021. So... good times ahead.



Anyway this will be my final post in this thread now that Sumang has launched and I have decided against it. Need to work harder to afford if I want to get a larger home. Too poor liao.

 

[Passerboy]

I think hor.... for any business, you can only pass down to the buyers if the buyers are desperate to buy.

And one strategy to increase desperation is to keep making buyers fear missing out current prices due to future potentially higher prices.

But, when the agent presented it to me the same way, I just smile smile and say pass down to buyers, then easier to continue the sales presentation without interruption.

A good agent should not be doing a presentation on making buyers nave the FOMO, when I previously encountered such an agent I ignored further texts from the agent. I met my current agent who is really patient and humble, despite me taking a long time to decide. I told him I would definitely buy from him (should I buy).

With so many agents now, and information readily available, buyers will only choose those agents who are good. It is better that agent present data and facts and understand the need of buyers.

 

[annetyu]

That time, 2 years ago, this forum ppl keep saying 100 palms was way overpriced at $850($100 above all other ECs), facing hospital, jam at yck road, far from mrt (the new mrt line not announced yet), nearby relslae pc selling low price, how can ppl below 14k income can afford 1mil+ EC, 9 out of 10 saying not going for ballot (then sold out in one day?!???) etc etc etc...

2 years later, wth 100 palms suddenly under priced? Will this happen again in 2, 3 years?

still remembered ppl say all those yishun EC at $750 overpriced, before 100 palms sold out...

And many said rivercove sold at $950 is crazy...

So what’s now?

Really lots of story-tellers here. Since when ECs directly before hundred palm was 750psf? It was at least 800psf. Just because the launch was a while back, you all think can psycho people with your fake news.

 

[AeRo84]

Not really.

The land price of some of the other plots are lower than this one.

if i remember correctly, land bidded after july 2018 is subjected to additional 5% absd for developer, mesning to say all upcoming ec after piermont grand will cost higher psf for developer, very hard for developer to come down lower

 

[annetyu]

Missed the ipo still can buy the same stock in the market at slightly higher (mostly) the next day.

Missed many recent cheaper ECs = pay a lotvmore for the same EC resale later.

You bought Propnex ipo? “HUAT Ah”! mergui road condo also “HUAT ah”.

 

[NiShiZhu]

Really lots of story-tellers here. Since when ECs directly before hundred palm was 750psf? It was at least 800psf. Just because the launch was a while back, you all think can psycho people with your fake news.

He’s probably referring to the canopy EC at Yishun lah,
Diam lah little boy, this is adult’s property discussion forum, please come back after when you past your puberty age.