New EC at Sumang Walk

Zetrio2006

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Only 400 units sold? That would be less than 50% sold, it's not selling like hotcakes that I was led to believe. It's actually bad sales numbers for an EC balloting day.

50% isn't bad. You need to look at Northwave or Parc Life launch day sales!
 

Path-Finder

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My agent just updated me. Quick count and left around 440 to 450 units not sold, i.e. 45% sold.

The smallest 3bedrms (78sqm), 4 and 5 bedrms makes up majority of units not sold.
 

josephcws

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Actually we need to factor in that this project is the only EC project launching this year, and it is so far apart from the previous launch. The opening day sales moved <50 percent. I am not going to give any opinions whether its good sales or not, just laying out the facts.
 

Eraval

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Actually we need to factor in that this project is the only EC project launching this year, and it is so far apart from the previous launch. The opening day sales moved <50 percent. I am not going to give any opinions whether its good sales or not, just laying out the facts.



Wah lau siao liao, later like the genius Merg91 say 5 years later all these kumgongs that never buy sure regret even though location/size/value all not fit to their criteria
 

Merg91

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CDL is pricing it right.
Those who say no because it is 'too ex' but looking for cheaper new ECs later will learn to regret their decision.
 

josephcws

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CDL is pricing it right.
Those who say no because it is 'too ex' but looking for cheaper new ECs later will learn to regret their decision.

Hmm, honestly i am not sure if the future ECs will be cheaper or not, but if you look at how this launch price changed as compared to the previous EC launch, it just dont feel "right"..
 

Emolisher

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cheaper ec is confirm have depending on location.

Haha don’t need bother to explain to this kind of user, as they are most likely property agents trying to justify their sales

No buyer will in the right piece of mind think the price is just right for EC, of cos the cheaper the better to us..
 

Merg91

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The problem is the new private condo pricing is also not like those good 'old time', no ?

Million+ dollar or close to it flats are also not uncommon.

Hmm, honestly i am not sure if the future ECs will be cheaper or not, but if you look at how this launch price changed as compared to the previous EC launch, it just dont feel "right"..
 

josephcws

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The problem is the new private condo pricing is also not like those good 'old time', no ?

Million+ dollar or close to it flats are also not uncommon.

Yes, its normal for things to be more expensive, just a feeling that the price jump this time round is too much.
 

shin7829

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Uncle Ni, I just did some research, it may be a mistake of mine and I have to admit it.

However, iNZ average was $800 and not exactly 100 below 850.

All along I thought all those EC were avg $800psf but I am surprised to see Treasure Crest transacting at mostly below $800psf (until developer's crazy land bids that caused a huge spike in bounced back units).

Clearly, I am not following the EC market. Thanks for the info, I have learnt quite a bit about EC today. Nonetheless. this only goes to show the massive amount of cheap ECs entering the resale market in 4-5 years time.

U are really very entertaining.
No matter what be it high educated or experienced pls lower your anyhow labelling habit la ah yo eh. Annetyu drama is more than anything else.

Brainless la. Poor english la. Etc etc. Zzzz
 

m1kid85

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Too many existing ECs around with better location in Punggol.

Even after 10 years If wanna sell the most can cover interest payment only.

Dun think much about profit.
 

birmingham123

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According to the sales numbers of another agent, round 400 units sold, is it correct?

If this sales numbers are correct, the market is telling you that this EC is not only not cheap, but also too expensive. And if the next EC is selling at higher prices, they will probably struggle to sell..

Ec sales on day 1 of launch if can have more than 30% is good already. Suggest you look at past EC sales before you comment. From tampines trillant to wandervale to even rivercole, most EC will take until the 3rd year to get sold out.
 

momoeagle

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Ec sales on day 1 of launch if can have more than 30% is good already. Suggest you look at past EC sales before you comment. From tampines trillant to wandervale to even rivercole, most EC will take until the 3rd year to get sold out.
Good a not is relative.
It might have reached a price point where most people are not willing or not able to fork out more. I fall into second category, of "not able".

Followed your advice and looked at last few ECs around the area.
Rivercove 2.5X oversubscribed, 80% sold on first day
Hundred Palms 5.4X oversubscribed, 100% sold on first day
Treasure Crest 2.1X oversubscribed, >70% sold on first day

Will be interesting to see how The Ola Ec will perform next at a similar psf price point, especially given it is near hospital and surrounding 3 ECs all ard $800 psf.
 

Clazav

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So some of these people who have never take action yet will become one of the bear's league and always talk down the property market.

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?
 

Clazav

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The rule is always "others can buy high but you yourself cannot"

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? :)
 

Path-Finder

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Can share which r the existing ECs with better locations in punggol? Other than mayb Prive.

Too many existing ECs around with better location in Punggol.

Even after 10 years If wanna sell the most can cover interest payment only.

Dun think much about profit.
 

sgpropertyblog

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Its about 372 units sold by the time i left the showflat ard 8pm.. super tired ady.. congrats to all those who managed to get a unit here.. all i can say is, even with this current pricing,there will still be room for profit in future with the transformation tht Punggol has in the pipeline....( jus my humble opinion, no right , no wrong).. this will set the benchmark for the upcoming ECs in future.. one thing for sure, this project will be fully sold, just the matter of how long ? Rivercove took about 3 months to fully sell, prob this one will take ard 5-6 mths?its anyones’s guess.. btw, still got last 6 slots for 2nd timers quota!
 

sgpropertyblog

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Too many existing ECs around with better location in Punggol.

Even after 10 years If wanna sell the most can cover interest payment only.

Dun think much about profit.

Different ppl will hv different perceptions of ‘good’ location.. u may find Waterwoods next to Global Intl Sch is a good location, but others will find Riverparc next to LRT is better location.. all depends ..

Just fyi, riverparc which just MOPed,also saw profit of $2xxK.. i think i ady posted the recent transaction here bfore..

Piermont which is walking distance to Punggol MRT n Punggol Digital District and LRT at doorstep, good location or not? Up to each individual to see ba whether this fits their needs or not?
 

sgpropertyblog

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So some of these people who have never take action yet will become one of the bear's league and always talk down the property market.

This shows that the market is going forward , imagine Sg is just a tiny island with limited land..what is there to justify for lower land price bid in future? and also, our money is getting smaller.. example, last time movie ticket only costs $6.50 each, now its $13.. but this is life, things move forward.. either we take it or leave it.. if we find $13 for one movie ticket is expensive, then stay home watch Netflix lor.. if we find EC too expensive, then stay in HDB lor..
 
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