New EC at Sumang Walk

sgpropertyblog

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cheaper ec is confirm have depending on location.

At this moment , dont have( new EC, not resale EC).. even the last bounced out units at Rivercove 2-3 months back were transacted at $10xxpsf ady... oso fully sold within few hours.. the next one at Anchorvale, can the price be lower than Piermont? We will hv to wait til next year to find out.. but based on my experience, it is very unlikely that the price will be lower than Piermont. But of cos, i can be wrong.. :s22::s22:
 

Passerboy

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Heard that the sale of Piermont Grand also had a spillover effect to the sales of Florence and RF, where a number of units were sold yesterday. In time to come, I believe this EC sales (which was considerably good in today’s buyers market) would also have an effect on future EC prices next year.
 

NiShiZhu

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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!

I would think 45% sold on first day for Piermont grand is rather impressive given its price point and with so many mass market condo competing against sumang. Not forgetting these mass market condos have price gaps that’s quite close to this EC.

From business and profit point of view, There is no need for CDL to achieve 100% sales in one day and follow hundred palms’ mistake by selling at 8xxpsf. CDL has the advantage because it has hundred palms and river cove to be used as previous case studies to gauge EC buying sentiments.
 
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Braun8

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372 units out of 820 units = only 45% sold, that's bad sales for an EC.
 

NiShiZhu

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Heard that the sale of Piermont Grand also had a spillover effect to the sales of Florence and RF, where a number of units were sold yesterday. In time to come, I believe this EC sales (which was considerably good in today’s buyers market) would also have an effect on future EC prices next year.

Yes, you are rather spot on to notice that.
That’s what I call the pre/post sumang effect (in my earlier post) that this sumang EC has on other mass market condo like RF, FR, treasure etc.

Yesterday when I’m at Parc esta, I do notice though this project was launched quite some times ago, there’s still quite a number of visitors appearing at PE showflat.

And do you know something interesting, it also gives the public a sense of “accepting the reality” and “getting used to it” kinda perception.
If EC can launch at 1100psf, why can’t other mass market condo at 13xxpsf? Psychological effect at work?
 
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momoeagle

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At this moment , dont have( new EC, not resale EC).. even the last bounced out units at Rivercove 2-3 months back were transacted at $10xxpsf ady... oso fully sold within few hours.. the next one at Anchorvale, can the price be lower than Piermont? We will hv to wait til next year to find out.. but based on my experience, it is very unlikely that the price will be lower than Piermont. But of cos, i can be wrong.. :s22::s22:

It is unlikely to be lower than Piermont. Because the developers need buyers to "bail" them out from buying high.

And buyers will... because it is an EC! Sure huat one!
 

lion888

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372 units out of 820 units = only 45% sold, that's biad sales for an EC.

Hey bro, no offence but to sell 45% on the first day is a remarkable result for an EC, especially for one that is priced pretty high. Cannot compare all to Hundred Palms. You must look at the mkt avg eg. Parc Life, Visionaire, Brownstone, Criterion, Signature etc.. All took about 6mths (or near TOP) to sold out, and even then, the price have already gone up if you're buying nearing TOP. Lagi bo hua..

But I do feel that this project is priced a little high, in my humble opinion..
 

runforyourlife

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At this moment , dont have( new EC, not resale EC).. even the last bounced out units at Rivercove 2-3 months back were transacted at $10xxpsf ady... oso fully sold within few hours.. the next one at Anchorvale, can the price be lower than Piermont? We will hv to wait til next year to find out.. but based on my experience, it is very unlikely that the price will be lower than Piermont. But of cos, i can be wrong.. :s22::s22:

If the solution is always to wait for future years, everywhere will also appreciate 100k in tandem, :s22:
 

m1kid85

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Just have to remember after MOP it is not just you who are going to sell the house. many other units in ur EC will be selling too plus u have to fight against other existing EC and condo in the market.

Unless ur unit has the so call perceived ‘superior’ location and some other gd unique stuffs by the buyers if not u are going to likely to see a price war.

If you are desperate to sell at that time, it’s going to be ugly as buyers are going to low ball you. There are so many existing ec available in market which other seller bought at lower price than urs and they can afford to lower their selling to the buyers but can you?

And if you can hold, you cAn tahan the interest payment? Take note the interest rate for now is consider low. It is likely to further raise in the future.

So if one wanna just to buy EC hoping to make a quick profit, I suggest better dun if ur financial capability really isn’t up the starch. Probably have to hold and tong and wait till to become seller market to have a chance to so call earn some profit.

To me, I just was feel nowadays the EC is becoming like HDB DBSS. If u want to buy to stay or rent out then is fine. You wanna buy to sell for quick a few hundred K profit I think is very very hard.
 
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momoeagle

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372 units out of 820 units = only 45% sold, that's bad sales for an EC.
Heard many unsold were the 4 and 5 bedroom ones, which are near 1.5mil and up.

Rivercove on the other hand, had all its 4 bedrooms fully bought on first day.

But it will sell out. Just need reballot again. Sure people will buy. EC mah. Buy sure huat.
 

momoeagle

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If the solution is always to wait for future years, everywhere will also appreciate 100k in tandem, :s22:
I think the bidding for the canberra and next fernvale lane ec (I'm looking at this) will tell us how developers judge this sale.
 

m1kid85

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Heard many unsold were the 4 and 5 bedroom ones, which are near 1.5mil and up.

Rivercove on the other hand, had all its 4 bedrooms fully bought on first day.

But it will sell out. Just need reballot again. Sure people will buy. EC mah. Buy sure huat.

Totally side track, the thing impresses me about Rivercove ec is their speed of construction. Damn bloody fast.
 

momoeagle

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Yes, you are rather spot on to notice that.
That’s what I call this as the pre/post sumang effect in my earlier post that this sumang EC has on other mass market condo like RF, FR, treasure etc.

Yesterday when I’m at Parc esta, I do notice though this project was launched quite some times ago, there’s still quite a number of visitors appearing at PE showflat.

And do you know something interesting, it also gives the public a sense of “resigning to fate” and “getting used to it” kinda perception.
If EC can launch at 11xxpsf, why not other mass market condo at 14xxpsf? Psychological effect at work?

Actually hor, I'm suspecting that Piermont is launched at this price to help push the $16xx sale at sengkang residences.
 

Passerboy

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372 units out of 820 units = only 45% sold, that's bad sales for an EC.

45% for this EC is actually v good and I believe only 6 units of the second timer quota left.

Reason being:
1) Current market whereby buyers have so many other choices
2) Price margin between this EC and some mass market condo like treasures and RF is thin
3) New benchmark in EC prices of $10xx psf up

Why would the developer rush to sell 100% of units in a day only to realize later that they have priced it too attractively.
 

NiShiZhu

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Hey bro, no offence but to sell 45% on the first day is a remarkable result for an EC, especially for one that is priced pretty high. Cannot compare all to Hundred Palms. You must look at the mkt avg eg. Parc Life, Visionaire, Brownstone, Criterion, Signature etc.. All took about 6mths (or near TOP) to sold out, and even then, the price have already gone up if you're buying nearing TOP. Lagi bo hua..

But I do feel that this project is priced a little high, in my humble opinion..

Same sentiments, 45% for this kinda pricing is considered remarkable.
there’s no need for CDL to rush clearing its stocks all in one day.
 

Passerboy

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Yes, you are rather spot on to notice that.
That’s what I call this as the pre/post sumang effect in my earlier post that this sumang EC has on other mass market condo like RF, FR, treasure etc.

Yesterday when I’m at Parc esta, I do notice though this project was launched quite some times ago, there’s still quite a number of visitors appearing at PE showflat.

And do you know something interesting, it also gives the public a sense of “resigning to fate” and “getting used to it” kinda perception.
If EC can launch at 11xxpsf, why can’t other mass market condo at 13xxpsf? Psychological effect at work?

Bro you are indeed spot on, PE apparently moved many units ytd (from what I heard) I stand corrected if anyone knows otherwise. A number of mass market condo sales went up ytd.

(I shall post at the PE thread to see anyone knows otherwise)
 

momoeagle

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45% for this EC is actually v good and I believe only 6 units of the second timer quota left.

Reason being:
1) Current market whereby buyers have so many other choices
2) Price margin between this EC and some mass market condo like treasures and RF is thin
3) New benchmark in EC prices of $10xx psf up

Why would the developer rush to sell 100% of units in a day only to realize later that they have priced it too attractively.

My take is might be harder to sell more because first timers dont have the buying power of 2nd timers.

Unless more quota is open for 2nd timers, I can't see many first timers young couples affording 1.5 mil and up.

imagine this
quota for 2nd timer 246
239 bought

quota for 1st timer 574
133 bought
only 23% of first timer quota filled.
 

Braun8

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Heard many unsold were the 4 and 5 bedroom ones, which are near 1.5mil and up.

Rivercove on the other hand, had all its 4 bedrooms fully bought on first day.

But it will sell out. Just need reballot again. Sure people will buy. EC mah. Buy sure huat.


The current price of the 4 bedrooms are near $1.5mil and over, the 5 bedrooms are near $1.6mil and over. Few households with under $14K monthly income can afford this unless they have rich parents or get their parents to sell their flats.
 

momoeagle

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The current price of the 4 bedrooms are near $1.5mil and over, the 5 bedrooms are near $1.6mil and over. Few households with under $14K monthly income can afford this unless they have rich parents or get their parents to sell their flats.
And majority left for first timers.

If the govt didn't change the quota for 2nd timer to 30%, the sales would have flopped big
 
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