New EC at Sumang Walk

[fotoudavid]

Hi all, I'm very new and total noob on pte props. My hubby is looking at the sumang ec but I am very cold towards it.Not wantplay playto playanket when I don't even know anything, I would like to know if its worthy. Our main reason to purchase an EC is for stay.

Need both husband and wife to commit. Else will quarrel, not worth. Property is something you don't want agent to hard push... You die you think agent will care? They only care for themselves... Hardly see any agent with a heart now a days.

Base on today's market, you need to research a lot. Really a lot.

Go to get a bank loan estimation the best, if ec, the loan structure is different.

But I not sure you want to shift or not.. Like want to shift but not the suman ec.

 

[annetyu]

Usually for the first day of launch, developer will offer more discounts for ‘early birds’.. the most recent launch, Sky Everton,on the first day of launch, got extra ~ 2% discounts.. Parc Komo, the price went up around $20K ( for selected types) less than 1 mth after launch..

* Buy early at cheaper price & more units to select from..

Read with caution. Best to do own analysis.

 

[annetyu]

My guess only.

EC New launch price is unlikely to go down for the next 1-2 years.
Condo new launch price is likely to stagnate or go down in next 1-2 years.

My recommendation is still PC private condo resale. But of coz gotta do a lot of work if one wanna get PC resale.

To me, if ur paying 1.1k psf for punggol EC not near MRT, might as well pay more for sth at a better location. Or maybe ll get to pay similar amount for sth with better location.

Very wise. I just flipped through one of last month's edgeprop magazine, saw one luxurie condo beside sengkang mrt 3 bedder 900+sqft transacting at S$1,100psf. There are many many more such transactions.

I can easily find 20 more resale condo less than 10 years old selling below $1,150psf at much better location than sumang ec. Already learnt of euhabitat in geylang unknowingly...

Go ahead to buy sumang if you really love it, no one stopping.

 

[annetyu]

This is the only EC launched this year thus response will likely be good.

This is probably the main reason it will sell, if it sells.

 

[annetyu]

This EC developer banged its forehead until bruises /脑出血...
https://www.straitstimes.com/business/property/hundred-palms-residences-ec-sold-out-in-seven-hours

I see certain developers bruising their forehead 3/4 years down the road for the opposite reason.

I can also see someones forehead already bruised because his unit cannot appreciate despite the recent trend in the property market.

Away from head brusing, has everyone forgotten about riverfront whose average price is close to $1,200psf? Large scale projects like treasure also has a chance of giving 8% discount that will bring prices even closer to sumang EC price... do your own research before comitting. If punggol is your no.1 priority then by all means.

 

[annetyu]

https://www.todayonline.com/singapore/british-billionaire-dyson-buys-singapores-priciest-penthouse-0

just saw this. wow.

S$73.8m not S$100m for the 21,000sqft super penthouse? Not that it really matters to sumang.. FOr those who were in awe.

https://www.businesstimes.com.sg/real-estate/dyson-owner-forks-out-s738m-for-singapores-costliest-penthouse

 

[Passerboy]

S$73.8m not S$100m for the 21,000sqft super penthouse? Not that it really matters to sumang.. FOr those who were in awe.

https://www.businesstimes.com.sg/real-estate/dyson-owner-forks-out-s738m-for-singapores-costliest-penthouse

The price is insane, besides high absolute quantum it’s about $35xx psf

 

[Merg91]

Talk here can bring down the EC price?
Most potential buyers are not here.

Talk & talk down 1 year after cooling and there is no lowering of price.
Wait for 1 month..... 6 month......and now 1 year anniversary.......


Of course old units resale price is mostly at 'discount' compared with new units.
If that's so simple, all new launches at higher prices will be zero.

 

[Merg91]

Dyson could have gotten a UK castle at that amount.
His levy should be no small amount.

The price is insane, besides high absolute quantum it’s about $35xx psf

 

[annetyu]

Talk here can bring down the EC price?
Most potential buyers are not here.

Talk & talk down 1 year after cooling and there is no lowering of price.
Wait for 1 month..... 6 month......and now 1 year anniversary.......

Of course old units resale price is mostly at 'discount' compared with new units.
If that's so simple, all new launches at higher prices will be zero.

When the resale discount is as high as 50-60% then something is wrong.

Talk here can drive up the resale price (of geylang freehold)? Most potential buyers are not here. There are likely more ec and mass market buyers here than those looking for more prime ppty. Rich ppl seldom look here.

Talk & talk down 1 year after cooling and there is lowering of price but not increase in resale geylang freehold prices. Wait for 1 month..... 6 month......and now 1 year anniversary.......

 

[Passerboy]

Dyson could have gotten a UK castle at that amount.
His levy should be no small amount.

Haha yeah! That is very true. But wallich residence is a fantastic project, and his is on the 62-64th storey, it’s still a mini castle in the air!

 

[annetyu]

Haha yeah! That is very true. But wallich residence is a fantastic project, and his is on the 62-64th storey, it’s still a mini castle in the air!

Yes. It is a 21k sqft 3 storey "bungalow" with private facilities. Happy for him.

 

[sgpropertyblog]

I must go see their showroom... See how crowded on that day ��

I’ll be there.. buzz me.. lolsss...

 

[sgpropertyblog]

Will ECs get cheaper if they wait?

Sad to say, no.. not only EC prices wont get cheaper,but even for BTOs & private condo new launches.. probably the only segment tat can see decline is prices is older resale HDB / condo..

 

[kiatme]

Should be a sell out... rivercove was 80% sold at that location... don't see why sumang sales would be bad considering better location + CDL.

 

[sgpropertyblog]

Good product will sell. Lousy product will not sell even with discount.

Don't assume just because got 'oversupply' means developer will give discount. Maybe for lousy project yes.

This EC will sell out for sure no doubts.

Yup agree.. i also have confident that tis project will have good respond..... alot of ppl think Sumang is very ulu, yes agree ! For now.. but come 5-10 yrs down the road when the Digital District is up n running, the whole town will be transformed.. by then, no more $1150psf lioa..

 

[sgpropertyblog]

Should be a sell out... rivercove was 80% sold at that location... don't see why sumang sales would be bad considering better location + CDL.

Will keep this thread posted on the respond of this project..

 

[annetyu]

Sad to say, no.. not only EC prices wont get cheaper,but even for BTOs & private condo new launches.. probably the only segment tat can see decline is prices is older resale HDB / condo..

You are full force agent mode now that the launch is upcoming. Good luck..

 

[annetyu]

Should be a sell out... rivercove was 80% sold at that location... don't see why sumang sales would be bad considering better location + CDL.

Rivercove is in worse location? This is debatable.

SUmang is $200psf more expensive. If buyers are rationale it won't sell out but who knows? since buyers are mostly excited first time condo buyers and all are hdb dwellers, not the most informed and savvy about the market.

 

[annetyu]

Yup agree.. i also have confident that tis project will have good respond..... alot of ppl think Sumang is very ulu, yes agree ! For now.. but come 5-10 yrs down the road when the Digital District is up n running, the whole town will be transformed.. by then, no more $1150psf lioa..

Digital district is just a nice way of saying business park like those in changi and seletar. Even those areas do not see prices jumping.

Plus the singapore institute of technology, what is that?

Defitnitely not the drastic transformation you are describing. The mega-mall waterway point and safra-punggol is already up long time ago. Very nice sales talk, I am sure some will be taken in. Woodlands got mega-transformation coming too, you can start carving out your story.

Touch your heart, do you think this $1,150 sumang ec is more worth it than other resales going for $1000psf in PG/SK??