New EC at Sumang Walk

Eraval

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Not really. 5-6 years back, people also mentioned that EC at $650-700 psf has no more potential for capital appreciation. Look what happened?

With neighbouring private condos starting from $1.3k+ psf and EC at $1.1k+ psf, there's still $200+ psf to be gained in the future. Not forgetting you are getting a superior developer in CDL. There are many other big reasons...



Yes but the cap of $14k has been there for sometime no? While the costs of these ECs have rised significantly.

Example would be say the Canopy in Yishun. When it was selling, the earning cap was $12k and it was sold at around $600-$650/psf. Now the owners can sell at around $800 psf knowing they are still making a tidy profit. If they lose their jobs, easy, sell off the condo, downsize, and tide it out with the profit they made.


Right now the ceiling is capped at $14k but the pricing for PG is around $1050/psf. So I would not be wrong to assume the loans they have to take are larger unless they cough up more cash upfront.
So if say the economy tanks and they lose their jobs, how are they going to pay off the loan?? And they are bound by the rules that say they cannot sell off before MOP, so surrender the unit to the bank? Fire sale?


My point is the same as way before, which is PG with the income ceiling, represents a slight risk in case one loses their job. Unless it's multi-generational living, then PG is also a bit too small I feel?


Private condos could be more expensive but the rules are more flexible. I could very well be very wrong, do enlighten me if so. I have much to learn
 

Braun8

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When the economy crashes for real tho, all those who took high loans will be left out at sea liao, which is why I feel PG is bad as there is an earning cap, so buyers have to have cash if not their loans are too big for my personal liking

If the economy goes into full recession, you will probably see many bounced units for PG. PG is around 25% more expensive than 100 palms, I think many of the PG buyers can barely afford it.
 

bojangle

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Same idea mah. Sellers also bought high, want to sell higher. Same as developers buying at high land prices. If can want to make loss meh?

Cycle goes on and on like a musical chair, until... when the music stops...

It happened in history. It may happen again.

Of course, "this time is different".

buy high sell high, but how many can afford?

a 1.5mil EC next time sell at 1.8mil or 2mil? Then private will cross 2mil at least?

dun forget, these are OCR properties not CCR, there's a limit on affordability.

Not really. 5-6 years back, people also mentioned that EC at $650-700 psf has no more potential for capital appreciation. Look what happened?

With neighbouring private condos starting from $1.3k+ psf and EC at $1.1k+ psf, there's still $200+ psf to be gained in the future. Not forgetting you are getting a superior developer in CDL. There are many other big reasons...

5-6yrs back $650-700psf, today almost doubled, does your income doubled? 5-6yrs back influx of FT not as many as compared to now, living cost has gone up like crazy especially these recent 2 to 3yrs, salary also stagnant or suppressed instead of doubled. :s22:
 

Merg91

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There are enough measures to avoid overborrowing.
Of course a few would be burnt.
And a full recession affects your job /hdb flats resale & rental. I bet very few here would buy even 100 palms even at $1k psf.
The govt also would have to un-cool.

If the economy goes into full recession, you will probably see many bounced units for PG. PG is around 25% more expensive than 100 palms, I think many of the PG buyers can barely afford it.
 

momoeagle

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buy high sell high, but how many can afford?

a 1.5mil EC next time sell at 1.8mil or 2mil? Then private will cross 2mil at least?

dun forget, these are OCR properties not CCR, there's a limit on affordability.
if go even higher, then I happily stay and retire in my little HDB pigeon hole lor in 5 to 10 yrs time lor.

Right now I semi retired mode, working only 20 hrs a week or less, made possible because property loan is super low right now.

Was at seletar mall for lunch with wife earlier and looking at all the smart looking long sleeved shirt people, and thinking these are the hardworking people who are capable and hardworking enough to deserve to own and enjoy condos.

I'm just too lazy.
 

Taniban

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if go even higher, then I happily stay and retire in my little HDB pigeon hole lor in 5 to 10 yrs time lor.

Right now I semi retired mode, working only 20 hrs a week or less, made possible because property loan is super low right now.

Was at seletar mall for lunch with wife earlier and looking at all the smart looking long sleeved shirt people, and thinking these are the hardworking people who are capable and hardworking enough to deserve to own and enjoy condos.

I'm just too lazy.

LOL. I am one of them and I am also one of those who are highly leveraged. For sure if I lose my job I will seriously be f***ed. :D
 

ahboy82

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That's becos u high pay can retire early

For us who neither here nor there hav to work till death, jitao just whack ec or condo la since no matter wat hav to work rite

:(

if go even higher, then I happily stay and retire in my little HDB pigeon hole lor in 5 to 10 yrs time lor.

Right now I semi retired mode, working only 20 hrs a week or less, made possible because property loan is super low right now.

Was at seletar mall for lunch with wife earlier and looking at all the smart looking long sleeved shirt people, and thinking these are the hardworking people who are capable and hardworking enough to deserve to own and enjoy condos.

I'm just too lazy.
 

momoeagle

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That's becos u high pay can retire early

For us who neither here nor there hav to work till death, jitao just whack ec or condo la since no matter wat hav to work rite

:(
Was never high pay. Just because my property is low priced due to me incapable :(

Seriously with my laziness, I won't be able to find any high paying jobs.

But for sure I will work like siao and not have a nice afternoon nap if I overstretch the loan.

That's why my dilemma earlier. Stay put and retire soon, or work harder to slave for a nice property.

Lazy thoughts...
 

Path-Finder

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Wah shiok ler bro. U possessed certain skill set and currently freelancing? Or towkay? 😉

if go even higher, then I happily stay and retire in my little HDB pigeon hole lor in 5 to 10 yrs time lor.

Right now I semi retired mode, working only 20 hrs a week or less, made possible because property loan is super low right now.

Was at seletar mall for lunch with wife earlier and looking at all the smart looking long sleeved shirt people, and thinking these are the hardworking people who are capable and hardworking enough to deserve to own and enjoy condos.

I'm just too lazy.
 

momoeagle

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Wah shiok ler bro. U possessed certain skill set and currently freelancing? Or towkay? 😉

Maybe I just spend lesser? No overseas vacation for few years liao. I see some of my peers spend anywhere between $5k to $20k per vacation, 2 or more vacations a year.

HDB loan low. And some lucky investments here and there in certain beaten down stocks and reits back in the 2009 ~ 2010 era. And that's because I was lucky to have graduated in 08 and barely missed the financial crisis, because had no money to put into bad counters. And lucky to have had a uni scholarship.

And the most important, am blessed with healthy parents and parents in law who are able to support and take care of themselves.

Anyway I anyhow say one. Please don't believe me. Online forum comments read read can liao, don't totally believe.
 

TheITGuy

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Cooling measures for impending market crash ? :o
It is more of avoiding overheating /excessive exuberance.

Most govt would avoid any recession /slow down. And OMG in a market crash,many here would not buy - 20% off Sumang as many are jobless & future looks bleak.

That’s why the max you can borrow is 75%. Even the market plummets by 20% due to bad economy, you are still safe with the bank. Imagine you can borrow 90% of the loan and when market crashes, you are totally fked.
 

TheITGuy

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Sentiment still damn good la

If not good the cm will b removed liao

Then cm removed the sales will chiong again

So yes better buy now

Won’t be removed at least for the next few years I think. I personally think that cm is a good move to stop ppl from thinking too much, thus maintain the stability.
 

birmingham123

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Most who purchased high park were for investment. Imagine those highly leveraged buyers who are unable to get tenants. What will they do?

Those who have managed to offload high park to "euphoric" buyers the past year are lucky.

U dun find yourself trying too hard to keep playing down the property market ?

Everyone know price is every expensive now, every new launch is very expensive. For private condo, not a good time to invest. Then EC also not a good time to buy and stay ?
 

momoeagle

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U dun find yourself trying too hard to keep playing down the property market ?

Everyone know price is every expensive now, every new launch is very expensive. For private condo, not a good time to invest. Then EC also not a good time to buy and stay ?

Personally hor, I think not good time.
But such is how a market works. There will always be some that think it is a good time, and some that thinks it isn't. Then we can have buyers and sellers mah.
 

Passerboy

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just curious.

What are the chances of EC going to $800psf prices again?
And since there are a lot of chatters on lower price, will there be a chance of any ideal condo site (near MRT and mall) at $14xx psf prices again or can D3 condo prices go back to $15xx psf days?

Just want to know, to make a more informed decision.
 

NiShiZhu

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just curious.

What are the chances of EC going to $800psf prices again?
And since there are a lot of chatters on lower price, will there be a chance of any ideal condo site (near MRT and mall) at $14xx psf prices again or can D3 condo prices go back to $15xx psf days?

Just want to know, to make a more informed decision.

In relation to price movements, RCR has broken $2,000+ psf in 2017/18 for new developments like PPR, Woodleigh, Amber Park etc to name a few.

Currently, sitting opposite me is transacting up to $2,700psf for MeyerHouse for RCR in 2019. Hitting $3K psf one day is hard to imagine?
I don’t know what’s gonna happen in the near future but my sensing is don’t pin too much hope going back to “the good old days.”
 
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annetyu

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U dun find yourself trying too hard to keep playing down the property market ?

Everyone know price is every expensive now, every new launch is very expensive. For private condo, not a good time to invest. Then EC also not a good time to buy and stay ?

All I can say is you think too much. Was simply stating facts about high park residences. Next door neighbor selling at $1,300psf. By right HPR resales should easily go for $1,250 right? You say one mah, “resale must catch up with new launch”...

And it was other people who bring up about high park residence, and the hundreds of units for rental... don’t always aim me.... :o
 

birmingham123

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Personally hor, I think not good time.
But such is how a market works. There will always be some that think it is a good time, and some that thinks it isn't. Then we can have buyers and sellers mah.

I know the sudden spike in price make it not a good time to buy property, but what if 5years later the price never drop? Then holding back purchase for home stay dun make sense. In fact, the price suppose to go up more if not for cooling measure. So let say today property market not doing well and no developer bid for land, government will just remove a few cm right? If not, then recession will just hit also
 
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