New EC at Sumang Walk

momoeagle

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If these EC buyers can afford to buy at 1100 psf, they should look at the resale market where they can find better deals than this Sumang Walk EC.

Cannot. Because must buy new house stay new house. So many new launches, why must buy resale?
 

Merg91

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A page in the newspaper? :o
A sale = easily >$1. 5 million

Lower the price = angry early birds + other issues

Most developers rather not and many still eventually clear.
Most developers are rich if not there would be so many fire sales 5 years ago. CCR $1k if so.
The showroom is temporary.
The agents are not their staff. No sale =no coins given by developer I assume?

yeah, it is understandable that the developer rather burn a ton of cash for more marketing efforts and maintenance of show room than collect more cash earlier.
 

momoeagle

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A page in the newspaper? :o
A sale = easily >$1. 5 million

Lower the price = angry early birds + other issues

Most developers rather not and many still eventually clear.
Most developers are rich if not there would be so many fire sales 5 years ago. CCR $1k if so.
The showroom is temporary.
The agents are not their staff. No sale =no coins given by developer I assume?

Oh I understand! The developer only need to advertise on newspapers and no other places!

And manpower for sale is totally free! Smart developers!
 

Merg91

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Talking down the market here?
This is definitely a very influencial /powerful forum.
 
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sgpropertyblog

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If these EC buyers can afford to buy at 1100 psf, they should look at the resale market where they can find better deals than this Sumang Walk EC.

Yes, totally agree some resale projects are similar pricing to Piermont, take Treasure Trove for example.. same pricing.. but then again , the pricing is stagnant ady( as it has ady reached its peak, now the pricing is ‘flat’ on the graph).. next time wana exit, how much do u think u need to sell? Not forgetting tat there are many 1st owners who are still holding on to their unit.. imagine 3 yrs later u wana sell, u need to ‘fight’ with the 1st owners.. they can easily sell at $1100psf( your entry price) and still make a tidy profit.. but u as 2nd owner will need to sell at least $1200psf n up to see some profit..

Whereas buying Piermont( or any new launch for that matter), everyone is at the same starting point..

Having said that, there are also many other considerations to buying a property.. some buyer just want to buy tat project cos wana stay near parents, or near to kids school.. etc.. so very subjective..
 

momoeagle

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Everyone seems to pay a premium to buy new launch now. New launch sales are doing very well base on what I see.

Jus curious, then who will buy the resale in time to come? And it seems resale will only be able to gain profit if overall there’s a spike in market prices or that project is relatively cheaper than others in its surrounding location.

Not sure if it’s also cos these new launch have newer facilities and more amenities.

But you see, buy EC sure earn.

And if you pay high when it is new launch, you will be able to sell higher regardless of what the surrounding condos are selling.

It must be true. Property sure climb higher. $1.5k psf for punggol coming soon! Sure can sell and people sure snap up after 5 years. I mean, must make profit after accounting for interests right? And also must earn at least 2x of what you could earn from a hdb bto right (that means at least $400k), else what's the point of risking so much up front cash right?
 

asianfish

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Caveat for piermont out...

VyJDUSF.jpg

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where did you get this information from?
 

Passerboy

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But you see, buy EC sure earn.

And if you pay high when it is new launch, you will be able to sell higher regardless of what the surrounding condos are selling.

It must be true. Property sure climb higher. $1.5k psf for punggol coming soon! Sure can sell and people sure snap up after 5 years. I mean, must make profit after accounting for interests right? And also must earn at least 2x of what you could earn from a hdb bto right (that means at least $400k), else what's the point of risking so much up front cash right?

I don’t think you can earn 400k from flipping EC (not for Piermont) actually not even for the better new launch PC, 400k for flipping BTO are also outliers maybe those purchased at premium locations and with view etc. A closer bet is 200k for value buys, sure profit projects are perhaps those PC priced closer to EC price, maybe riverfront, treasures?
 

birmingham123

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I guess most EC buyers are buying for long term own stay, thus affordable is most important. No need 400k profit ba, but 200k should be quite easy if need to sell.
 

Merg91

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Missed the earlier cheaper boat, and when one sees >400 Piermont sale / incoming Canberra not cheaper still ......understandably anyone should be sarcastic :( :o
 
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momoeagle

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I don’t think you can earn 400k from flipping EC (not for Piermont) actually not even for the better new launch PC, 400k for flipping BTO are also outliers maybe those purchased at premium locations and with view etc. A closer bet is 200k for value buys, sure profit projects are perhaps those PC priced closer to EC price, maybe riverfront, treasures?
HDB quantum lower. Buy 350k can sell 550k to earn 200k. Cannot 200k minimally also 100k.

EC buy 1.2m to 1.5m cannot even earn 400k by selling at ~$1.5k psf? Quite sad on a yield perspective leh. This not even talking about the higher interest. Why people still want to talk like PG is so worth as a project leh?

Of course if it is for a different kind of lifestyle I understand lah. Especially if don't need to slave for the property on weekdays and only fight for the facilities usage on weekends with everyone else.

Personally this is one reason I didn't buy. Cuz I too incapable to have sufficient cash to afford comfortably.
 
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Passerboy

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HDB quantum lower. Buy 350k can sell 550k to earn 200k. Cannot 200k minimally also 100k.

EC buy 1.2m to 1.5m cannot even earn 400k by selling at ~$1.5k psf? Quite sad on a yield perspective leh. This not even talking about the higher interest. Why people still want to talk like PG is so worth as a project leh?

Of course if it is for a different kind of lifestyle I understand lah. Especially if don't need to slave for the property on weekdays and only fight for the facilities usage on weekends with everyone else.

Personally this is one reason I didn't buy. Cuz I too incapable to have sufficient cash to afford comfortably.

Not all HDB buy 350k can sell 550k, I think it depends on location and other factors. Even 100k I would think it must have those good pull factors. There are no shortage in supply of BTOs and newer BTOs are getting better too.

There are HDB buy 350k 10 years later is still 350k or lower. I think it’s the same for P.C., it must have the host of pull factors.

But for those HDB w a host of pull factors, their gain is usually more than 200k cos of the grants thrown in. I think same for P.C., if u get a good buy.
 

momoeagle

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Not all HDB buy 350k can sell 550k, I think it depends on location and other factors. Even 100k I would think it must have those good pull factors. There are no shortage in supply of BTOs and newer BTOs are getting better too.

There are HDB buy 350k 10 years later is still 350k or lower. I think it’s the same for P.C., it must have the host of pull factors.

But for those HDB w a host of pull factors, their gain is usually more than 200k cos of the grants thrown in. I think same for P.C., if u get a good buy.

True. I used Fernvale as an example. I believed Punggol HDB also about the same. 100k from bto is very achievable. My sis Punggol 4 rm HDB went from 270k bto to selling at 400+k just a while ago.

There's a research somewhere that hdb resale prices peak somewhere between 10th to 15th year.

Based on this, you are still identifying that location is the main pull factor and I agree. But base on yield perspective, first timers seems better off to go for bto than for ec at current prices for the same or similar location. If the location has a lot of pull factors, HDB purchase will give them a good first pot of gold with a lower quantum and much lesser stress.
 

Passerboy

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True. I used Fernvale as an example. I believed Punggol HDB also about the same. 100k from bto is very achievable. My sis Punggol 4 rm HDB went from 270k bto to selling at 400+k just a while ago.

There's a research somewhere that hdb resale prices peak somewhere between 10th to 15th year.

Based on this, you are still identifying that location is the main pull factor and I agree. But base on yield perspective, first timers seems better off to go for bto than for ec at current prices for the same or similar location. If the location has a lot of pull factors, HDB purchase will give them a good first pot of gold with a lower quantum and much lesser stress.

Yes agreed on the last part.

Just that the point is, if they buy a HDB at a more premier location like Kallang/Whampoa/Boonkeng the profit margin and probability of profit is much higher than less popular area. Thus, the higher amount of subscription to such areas.

There are a lot of new BTO in Punggol, SK, thus I would think that the resale price would somewhat be more subdued.
 

momoeagle

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Yes agreed on the last part.

Just that the point is, if they buy a HDB at a more premier location like Kallang/Whampoa/Boonkeng the profit margin and probability of profit is much higher than less popular area. Thus, the higher amount of subscription to such areas.

There are a lot of new BTO in Punggol, SK, thus I would think that the resale price would somewhat be more subdued.
My info on the resale prices was based on confirmed transactions.

So even based on subdued resale price, can still profit 100k. Not bad mah.

300k to profit 100k vs 1.2m to profit 200k.

Must really love condo living a lot and utilise the condo facilities to a maximum to be worthwhile.

Or... my main reason for consideration for an EC is a much larger place than my current 5 rm flat. But... I too incapable to afford the quantum for the bigger place for now.
 

frigatex

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Since there's mention about comparison with HDB BTOs, this article might be good reference for resale prices of HDB listed by town. Some may surprise you:
https://sbr.com.sg/residential-property/news/hdb-resale-prices-dipped-03-in-q1-0

As for potential gains, have to note that HDB does take into account the popularity of launches like say in whampoa, so they are usually priced at a premium too.

Reference to recent launch in May:
https://esales.hdb.gov.sg/bp25/launch/19may/bto/19MAYBTO_page_4196/about0.html
 

birmingham123

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HDB quantum lower. Buy 350k can sell 550k to earn 200k. Cannot 200k minimally also 100k.

EC buy 1.2m to 1.5m cannot even earn 400k by selling at ~$1.5k psf? Quite sad on a yield perspective leh. This not even talking about the higher interest. Why people still want to talk like PG is so worth as a project leh?

Of course if it is for a different kind of lifestyle I understand lah. Especially if don't need to slave for the property on weekdays and only fight for the facilities usage on weekends with everyone else.

Personally this is one reason I didn't buy. Cuz I too incapable to have sufficient cash to afford comfortably.


If eligible for HDB bto, then no brainer lah. Those income between 12k to 14k how? Their next better choice is EC. If today bto ceiling also 14k, then good luck to Samsung ec project.

If earn below 12k and prefer EC could be cannot get queue number for bto for good location. 1 thing strange is fernvale area bto always not oversubscribed one, so pretty easy to get queue number lah. Not sure y not popular even though bto price is cheap and sure can profit 100k to 200k easily. But usually bto and EC are for long term stay so buyers wanted better location bah
 
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momoeagle

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If eligible for HDB bto, then no brainer lah. Those income between 12k to 14k how? Their next better choice is EC. If today bto ceiling also 14k, then good luck to Samsung ec project.

If earn below 12k and prefer EC could be cannot get queue number for bto for good location. 1 thing strange is fernvale area bto always not oversubscribed one, so pretty easy to get queue number lah. Not sure y not popular even though bto price is cheap and sure can profit 100k to 200k easily. But usually bto and EC are for long term stay so buyers wanted better location bah

Ah... I forgot to include income level in my consideration. Nice!
 
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