New EC at Sumang Walk

Passerboy

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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.

mmm, yeah agreed, unless they have family support.
Young couples are likely to buy the smaller quantum units, and I notice that young couples are also not too ambitious on their need for space, a friend of mine who is getting married, ended up buying a 2 bedroom at RF.
 

annetyu

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This is not only the only EC launch but there are also zero new PC launch in punggol. This is buyer’s one and only choice if they love punggol.

Having said that, it’s strange that gov is not releasing any pc land in punggol.
 

Braun8

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

My flat is next to Buangkok MRT and just opposite the upcoming Sengkang central mall/residences. If this new condo is selling at such prices, it makes keeping my flat a lot more attractive. This EC would be a location downgrade for me.
 

momoeagle

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This is not only the only EC launch but there are also zero new PC launch in punggol. This is buyer’s one and only choice if they love punggol.

Having said that, it’s strange that gov is not releasing any pc land in punggol.

Soon. URA masterplan shows more residential areas north west of SIT.

But will be near the WWII Sook Ching massacre site
 

NiShiZhu

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This is not only the only EC launch but there are also zero new PC launch in punggol. This is buyer’s one and only choice if they love punggol.

Having said that, it’s strange that gov is not releasing any pc land in punggol.

Is it because there’s already quite a number of PC in Punggol
Watertown, a treasure trove, Parc centros, fLo residence, riversound, river isle etc.

EC in Punggol includes waterbay, prive, riverparc, the terrace, piermont, the amore.

Anything I miss out?
 

momoeagle

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My flat is next to Buangkok MRT and just opposite the upcoming Sengkang central mall/residences. If this new condo is selling at such prices, it makes keeping my flat a lot more attractive. This EC would be a location downgrade for me.
I near Seletar Mall :)
 

ashcrow

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Is it because there’s already quite a number of PC in Punggol
Watertown, a treasure trove, Parc centros, fLo residence, riversound, river isle etc.

EC in Punggol includes waterbay, prive, riverparc, the terrace, piermont, the amore.

Anything I miss out?

ec...twin waterfalls and ecopolitan. :o
 

Hyruga

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Did you all realise every 50 metres, there is a traffic light? You can see 5 traffic light travelling at Punggol Road. So congested.

Also there is a big Long kar in front. Later breed lots of mosquitoes how? No direct river view. Blocked by hdb of all things.

Somemore near Pasir Gudang industrial area. Lots of harmful fumes.


https://www.99.co/blog/singapore/hdb-punggol-pasir-gudang/
 

TheITGuy

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I am sure your kids can make it if you start drilling them young.

That is why you need to start thinking about whether you should move out of punggol to somewhere nearer to good primary schools before your kids turn 7.

Punggol is good for very young families, I agree. But not when they grow older.

That’s why I bite the bullet and moving to D13, for my kids.
 

momoeagle

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Wow! Didn't know that. Can see the 2nd timers are doing the heavy lifting for Piermont Grand's sales figures!

It is very tough for them to sell the remaining to first timers I think.

Let's assume the first timers are somehow at the $14k salary mark at their young young age.

They can at most service a $4.2k loan. Max Loan amount maybe $1.1mil assuming no car loans.

Somehow they need to fork out at least $400k by cash/CPF for the $1.5mil properties. And they need to ensure both of them continue having jobs for the next 29 years at minimum of that pay.
 

ahboy82

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Yes u r spot on bro

Today's highs is gona b tmr's lowest

Buy now or regret later

EC sure huat one no need think

Cos pte condo will sure adjust pricing to match ec



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.
 

ahboy82

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If u look at the money n invest threads, a lot of fresh grads come out with 6digit savings

I m very sure within 5 years the couple can save 400k

It is very tough for them to sell the remaining to first timers I think.

Let's assume the first timers are somehow at the $14k salary mark at their young young age.

They can at most service a $4.2k loan. Max Loan amount maybe $1.1mil assuming no car loans.

Somehow they need to fork out at least $400k by cash/CPF for the $1.5mil properties. And they need to ensure both of them continue having jobs for the next 29 years at minimum of that pay.
 

Passerboy

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If u look at the money n invest threads, a lot of fresh grads come out with 6digit savings

I m very sure within 5 years the couple can save 400k

This is true, a lot of young people (bro: can’t use labelling, not just limited to grads haha) are financially shrewd and make a lot of investments early. A couple who start young can easily save up for the down payment for a 1.5m EC by 35 (since ppl marry later).
 

momoeagle

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If u look at the money n invest threads, a lot of fresh grads come out with 6digit savings

I m very sure within 5 years the couple can save 400k
Have not included loan interest and stamp duties and minor renovation costs.

Need 500k at least

And this is assuming these financially savvy youngsters are ok to have near zero savings right after that.
 
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momoeagle

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This is true, a lot of young people (bro: can’t use labelling, not just limited to grads haha) are financially shrewd and make a lot of investments early. A couple who start young can easily save up for the down payment for a 1.5m EC by 35 (since ppl marry later).

No wonder developers want to squeeze all their money away. What better time to squeeze these rich young couples and make them slaves of their properties for the next 29 years right?
 
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