New EC at Sumang Walk

[Passerboy]

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.”

That is exactly my exact sentiments; but just want to hear from the rest for wider perspective since a lot are betting on a price fall. I don’t envision that price of EC will ever return to 800psf; 950psf maybe. I also don’t envision that good condo sites in RCR location will see 14xx prices again. Not talking up or down on the market, but it be good to hear the views of all.

Developers have 5 years to sell their units, and there will be a time when Woodleigh residences return back to their 2000psf pricing, parc colonial is alr 19xx psf now and sales momentum is still good. Stirling has been slow to increase their price, if I was the developer I would price striling closer to 2000psf haha. But PE also slow at increasing prices which is good haha.

 

[annetyu]

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.

Prices only going higher. You still waiting for what? Hurry book a unit now. Economy not doing well, gov will remove some cm and prices will surge! Same to Mr Birmingham.

And clearly you’re trying to make a statement instead of posting a question.

 

[annetyu]

That is exactly my exact sentiments; but just want to hear from the rest for wider perspective since a lot are betting on a price fall. I don’t envision that price of EC will ever return to 800psf; 950psf maybe. I also don’t envision that good condo sites in RCR location will see 14xx prices again. Not talking up or down on the market, but it be good to hear the views of all.

Developers have 5 years to sell their units, and there will be a time when Woodleigh residences return back to their 2000psf pricing, parc colonial is alr 19xx psf now and sales momentum is still good. Stirling has been slow to increase their price, if I was the developer I would price striling closer to 2000psf haha. But PE also slow at increasing prices which is good haha.

You have just answered your own question.

 

[Passerboy]

Prices only going higher. You still waiting for what? Hurry book a unit now. Economy not doing well, gov will remove some cm and prices will surge! Same to Mr Birmingham.

And clearly you’re trying to make a statement instead of posting a question.

Don’t sensitive pls.
I just want to hear, if market crash and u need to sell ur hse cheap, a lot of buyers here too.

 

[birmingham123]

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....

Actually I not referring to all your posts j general, not just this post. And if I am a highpark owner, I will be damn happy to have bought at 900psf. But I get your question. that is exactly the question I ask 1-2years ago, rental market is weak and is it worth it to buy property for investment ? You can go check my previous post lah since you like to dig so much. Yet end up what happen ? Property price still go up further. So I guess to answer your question, if I am holding a high park now, maybe I will just lower my rental expectation and wait for rental market to improve bah

 

[annetyu]

Don’t sensitive pls.
I just want to hear, if market crash and u need to sell ur hse cheap, a lot of buyers here too.

I just find it funny. If one believes so strongly that prices will go up then why spend so much time “thinking”?

What’s the point of asking for opinions anyway? Any bearish comments will get “bashed” and accused of “talking down” the market. Everyone loves the market to go up. Even jobless ahboy also cannot wait for prices to surge.

Let me ask then. Is property up up and up really a good thing besides more commission earned by agents? Because if you sell high, you’ll also have to buy something else higher. Property willl never come down right?

 

[annetyu]

Actually I not referring to all your posts j general, not just this post. And if I am a highpark owner, I will be damn happy to have bought at 900psf. But I get your question. that is exactly the question I ask 1-2years ago, rental market is weak and is it worth it to buy property for investment ? You can go check my previous post lah since you like to dig so much. Yet end up what happen ? Property price still go up further. So I guess to answer your question, if I am holding a high park now, maybe I will just lower my rental expectation and wait for rental market to improve bah

Who can predict developers will bid so crazily? The property market is totally in developers hands.. that’s why we can’t find any other explanations for the surge in prices besides crazy land bids. Nobody can predict whether developers will act up again 5 years later. But yes as someone else said, there’s a limit to how high it can go.

 

[Passerboy]

I just find it funny. If one believes so strongly that prices will go up then why spend so much time “thinking”?

What’s the point of asking for opinions anyway? Any bearish comments will get “bashed” and accused of “talking down” the market. Everyone loves the market to go up. Even jobless ahboy also cannot wait for prices to surge.

Let me ask then. Is property up up and up really a good thing besides more commission earned by agents? Because if you sell high, you’ll also have to buy something else higher. Property willl never come down right?

That’s why it needs people like you to help talk it down.
Maybe your voice was one of the CM that we all need.
Can you help talk down one pearl bank prices to 16xx psf?, within my budget, I will be happy to buy now.

In actual fact, there is a price tagged to EC and P.C. and to every location. This is the point majority of the ppl here is driving at.

 

[annetyu]

That’s why it needs people like you to help talk it down.
Maybe your voice was one of the CM that we all need.
Can you help talk down one pearl bank prices to 16xx psf?, within my budget, I will be happy to buy now.

I like the prices at pearl bank. Not going to help you “talk down”. Sorry.

 

[Passerboy]

I like the prices at pearl bank. Not going to help you “talk down”. Sorry.

LOL or PE to 14xx psf?

Your statement point out a fact, that is there is still going to be demand for good location and sites. And there is a new price tag to current EC and P.C. that is why one pearl bank is 22xx psf up. Imagine one pearl bank 16xx or say 19xx I think tmr everyone go queue to buy.

You can clearly see it actually, that it is an undebatable fact that popular projects will not drop price.

 

[NiShiZhu]

I like the prices at pearl bank. Not going to help you “talk down”. Sorry.

Im surprise to hear from u saying u like the price of pearl bank? Care to share? This is definitely not the usual Annetyu I’m seeing daily.
I only know those who used to stay at pearl bank 1324sqft apartment are receiving 1.8mil from their enbloc sales are now forced to buy a 700sqft apartment that is within their budget they got from enbloc sales. (Almost 50% reduction in size).

Is there something I have missed out?

 

[momoeagle]

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

If prices of home stay the same such that the new psf values become the new normal, can consider buying. Because value of $$ always drop, so it becomes relatively cheaper.

Then there is the opportunity cost of what you are doing with your money in the mean time.

My 0.2 cents.

 

[Passerboy]

Im surprise to hear from u saying u like the price of pearl bank? Care to share? This is definitely not the usual Annetyu I’m seeing daily.
I only know those who used to stay at pearl bank 1324sqft apartment are receiving 1.8mil from their enbloc sales are now forced to buy a 700sqft apartment (of the same floor) with the same amount they got from enbloc sales. (Almost 50% reduction in size).

Is there something I have missed out?

haha bro, with that statement she or he just clearly pointed out what she failed to see, that current prices at good sites are not the same as before.

 

[NiShiZhu]

haha bro, with that statement she or he just clearly pointed out what she failed to see, that current prices at good sites are not the same as before.

No, I’m just confused.
How can one like the price of one pearl bank if one is still lamenting of the “good old days”?

 

[annetyu]

Then there is the opportunity cost of what you are doing with your money in the mean time.

You actually pointed out something extremely important.

While other die-hard property fans get stuck in the market that is going to be flat for the next 3 years, Mr Momo Eagle and friends could be making piles of money with other investment tools. The smart Momo Eagle will come back after 3 years to hoot something better.

Imagine person A who purchased at the peak in 2013 and face flat property prices for the next 4 years till 2017 and compare that with person B who investment in equities and generated 10% returns each year and went into the property market only in late 2016. Would you want to be Person A or Person B? Mr momo and me will definitely prefer to be person B.

 

[annetyu]

No, I’m just confused.
How can one like the price of one pearl bank if one is still lamenting of the “good old days”?

You all are very selective in what you see in Annetyu. When has Annetyu ever lamented over the "good old days"? I think it was mergui?

Has Annetyu prayed for prices to return to 2009 levels? Or did Annetyu simply express disapproval of prices which went up way too quickly?

If you all love prices to move up 40% every year till it becomes $10k psf in 2030 for a mass-market condo, by all means, Annetyu cannot care less anymore.

 

[NiShiZhu]

You actually pointed out something extremely important.

While other die-hard property fans get stuck in the market that is going to be flat for the next 3 years, Mr Momo Eagle and friends could be making piles of money with other investment tools. The smart Momo Eagle will come back after 3 years to hoot something better.

Imagine person A who purchased at the peak in 2013 and face flat property prices for the next 4 years till 2017 and compare that with person B who investment in equities and generated 10% returns each year and went into the property market only in late 2016. Would you want to be Person A or Person B? Mr momo and me will definitely prefer to be person B.

What about those who invest in Hyflux?
Perhaps I would prefer to be person A.
Likewise, for those who bought sycamore tree and laurel tree?
Then perhaps I would prefer to be person B.

Not everyone is 赌神 or 股神 lah.

 

[PostCountWarrior[+1]]

well price can dont go anywhere. no need to crash or rise up very fast. then u just doing the banks a great job with your interest payments because of your rental < mortgage

 

[NiShiZhu]

You all are very selective in what you see in Annetyu. When has Annetyu ever lamented over the "good old days"? I think it was mergui?

Has Annetyu prayed for prices to return to 2009 levels? Or did Annetyu simply express disapproval of prices which went up way too quickly?

If you all love prices to move up 40% every year till it becomes $10k psf in 2030 for a mass-market condo, by all means, Annetyu cannot care less anymore.

Then could u enlighten me why u like the price of pearl bank?
Those who used to stay in pearl bank in a 1324sqft get 1.8 mil through enbloc sales now has to pay 2.7mil for a 1152sqft apartment. Not only smaller, but still need to take up a loan near 1mil.

 

[annetyu]

What about those who invest in Hyflux?
Perhaps I would prefer to be person A.
Likewise, for those who bought sycamore tree and laurel tree?
Then perhaps I would prefer to be person B.

Not everyone is 赌神 or 股神 lah.

That is why you don't put all your eggs in one basket.

I feel what we are seeing now is similar to 2013 so you all know where better to put your money in the meantime for those looking to buy for investment.