New EC at Sumang Walk

[sgpropertyblog]

I can only regret I no earn enuff to afford sumang walk such a great EC

Have you done your financial calculation? Alot of time ppl think they canot afford, but when i sit down and calculate for them, they actually can.. most importantly, even if bank loan MSR canot loan up the the max, there are ways that we can go about doing it ( legal ways)..

 

[Passerboy]

CDL projects generally r better quality bah..

Would u pay 1.5mil for CDL EC vs QianJian?

Lol

Just curious, what are the better developers in Singapore?

 

[annetyu]

Not that great to me leh. Among multiple considerations were also proximity to certain types of dormitories and also proximity to pasir gudang.

Sry ah, if I were going to spend that crazy amt on a living space, I want to have minimal worries about air quality. Little things like these matters greatly to me.

CDL should bundle a "Samsung" air purifier with each unit.

 

[annetyu]

Just curious, what are the better developers in Singapore?

Capitaland, Keppel Land and Guccoland.

CDL just soso I feel.

 

[sgpropertyblog]

CDL projects generally r better quality bah..

Would u pay 1.5mil for CDL EC vs QianJian?

Lol

I agree, CDL are reputable local developer with good track record.. also, the next upcoming EC prices aint gonna be cheap as well.. and looking at the location, i tink will help to push Piermont’s sales.. if there are any units left by then..

 

[momoeagle]

CDL should bundle a "Samsung" air purifier with each unit.

Ya! Their smart home system should have included smart air detector.

I have a few xiaomi and novita purifiers in my home. This doesn't even include the water purifiers I installed at home, at in laws place and at my office. I'm that particular.

 

[Merg91]

Why not go for resale EC or condo then?
Many are cheaper than Piermont.

 

[momoeagle]

I agree, CDL are reputable local developer with good track record.. also, the next upcoming EC prices aint gonna be cheap as well.. and looking at the location, i tink will help to push Piermont’s sales.. if there are any units left by then..

Which is what I mentioned previously. Developers are putting higher and higher prices to help push previous units as they will appear relatively cheaper as their sales strategy.

 

[Path-Finder]

Mind to share which resale ec or condo that u find present great value and potential for further appreciation?

Why not go for resale EC or condo then?
Many are cheaper than Piermont.

 

[momoeagle]

Mind to share which resale ec or condo that u find present great value and potential for further appreciation?

Yes, waiting to learn from the expert guru too.

 

[Merg91]

Hot piece! How to win if don't bid high?
17 developers bid for this Sumang.
If CDL bit 5% lower, QingJiang will be the developer.

The top bid was 4.8 per cent higher than the second highest bid of of S$486 million or S$556.26 psf ppr from Qingjiang Realty (Residential).
https://www.businesstimes.com.sg/re...-bid-for-punggol-site-sets-record-for-ec-land

 

[sgpropertyblog]

Not that great to me leh. Among multiple considerations were also proximity to certain types of dormitories and also proximity to pasir gudang.

Sry ah, if I were going to spend that crazy amt on a living space, I want to have minimal worries about air quality. Little things like these matters greatly to me.

Of course, I also fall into no earn enuff category due to me being too incapable.

There's still a positive. URA masterplan shows another potentially big commercial building coming up beside waterway point. Parc Centros condo will be the biggest beneficiary I think.

My main question mark was on why Sumang EC and not other PCs when they are of similar psf after resale levy. No one really answered that though.

In short, to share, my research told me about DPS being available only for ECs and was proven previously to have move a lot of unsold units before gahmen stopped it for PCs in 2007.

The plot of land next to WWP is zoned for mixed developement( aka another waterway point)..yes, it will somehow help parc centros in the sense to push up its resale prices and transactions..

Even with resale levy added in to Piermont, the psf is still much cheaper than private condo

Ie
3bdrms 840sqft, price $888k + resale levy ( give u max $45k for 5rm flat)= $933k( $1110 psf)
4bdmr 1302sqft, price $1.34M + resale levy $45k=$1.385M($1063psf)
5bdrms 1432sqft,price $1.508M + resale levy $45K=$1.553M ($1084 psf)...

Correct me if im wrong, i dont think got any cheaper new launch of private condo that is cheaper than this currently...

 

[Braun8]

Have you done your financial calculation? Alot of time ppl think they canot afford, but when i sit down and calculate for them, they actually can.. most importantly, even if bank loan MSR canot loan up the the max, there are ways that we can go about doing it ( legal ways)..

The MSR is to protect the below $14K household income EC buyers from overstretching financially, it's bad that agents are advising people to borrow more than the MSR just to be afford this very expensive EC.

Borrowing above MSR could get these people stuck neck deep in debt for many years and they also need money for their other living expenses, what if they lose their jobs?

You want these people to be 房奴 (slaves to their homes)?

 

[sgpropertyblog]

Hot piece! How to win if don't bid high?
17 developers bid for this Sumang.
If CDL bit 5% lower, QingJiang will be the developer.

The top bid was 4.8 per cent higher than the second highest bid of of S$486 million or S$556.26 psf ppr from Qingjiang Realty (Residential).
https://www.businesstimes.com.sg/re...-bid-for-punggol-site-sets-record-for-ec-land

Thats precisely the point.. imagine 17 developers vying to bid for this plot of land.. vs Anchorvale and Tampines site 7 bidders respectively.. Like many has shared that Tampines is matured estate, no polution etc, why oni 7 developers bidding? If developer dont see any potential in the site, would they bid? And not only bid, bid at high price somemore!

 

[momoeagle]

The plot of land next to WWP is zoned for mixed developement( aka another waterway point)..yes, it will somehow help parc centros in the sense to push up its resale prices and transactions..

Even with resale levy added in to Piermont, the psf is still much cheaper than private condo

Ie
3bdrms 840sqft, price $888k + resale levy ( give u max $45k for 5rm flat)= $933k( $1110 psf)
4bdmr 1302sqft, price $1.34M + resale levy $45k=$1.385M($1063psf)
5bdrms 1432sqft,price $1.508M + resale levy $45K=$1.553M ($1084 psf)...

Correct me if im wrong, i dont think got any cheaper new launch of private condo that is cheaper than this currently...

Cheaper, no, you are correct. Similar, maybe.
If you want to go by cheapest psf comparison, Riverfront residences has some transactions done around $1200 psf. Selected units (likely lesser demand ones) have extra discounts.

What do you get for that extra amount? 5 mins (not 10 mins) walk to Hougang MRT which is 17 mins to dhoby ghaut, upcoming cross island mrt line making Hougang MRT an interchange.

If I miss out anything, do correct me. Appreciated.

 

[momoeagle]

Thats precisely the point.. imagine 17 developers vying to bid for this plot of land.. vs Anchorvale and Tampines site 7 bidders respectively.. Like many has shared that Tampines is matured estate, no polution etc, why oni 7 developers bidding? If developer dont see any potential in the site, would they bid? And not only bid, bid at high price somemore!

Those lands, as you have kindly shared before, are subjected to ABSD on land sale.

 

[TheITGuy]

Just curious, what are the better developers in Singapore?

UOL is also another

 

[Path-Finder]

Price aside, from piermont sale wkend, i got the impression that:

1. 840sqft is indeed too small for a family to live in. This is reflected by the low take up rate for 3 bedrm A1a

2. The affordability ceiling for EC hunters is around 1.2mil (normal family without additional family funding). This is reflected by the low take up rate of 4 and 5 bedrms

Anyway, piermont will definitely still b cheaper than PC. i think if there comes a day when EC is more expensive than PC, then something is very wrong

The plot of land next to WWP is zoned for mixed developement( aka another waterway point)..yes, it will somehow help parc centros in the sense to push up its resale prices and transactions..

Even with resale levy added in to Piermont, the psf is still much cheaper than private condo

Ie
3bdrms 840sqft, price $888k + resale levy ( give u max $45k for 5rm flat)= $933k( $1110 psf)
4bdmr 1302sqft, price $1.34M + resale levy $45k=$1.385M($1063psf)
5bdrms 1432sqft,price $1.508M + resale levy $45K=$1.553M ($1084 psf)...

Correct me if im wrong, i dont think got any cheaper new launch of private condo that is cheaper than this currently...

 

[sgpropertyblog]

The MSR is to protect the below $14K household income EC buyers from overstretching financially, it's bad that agents are advising people to borrow more than the MSR just to be afford this very expensive EC.

Borrowing above MSR could get these people stuck neck deep in debt for many years and they also need money for their other living expenses, what if they lose their jobs?

You want these people to be 房奴 (slaves to their homes)?

For private condo its TDSR 60%, so for the same salary/same age/ same purchase price, the buyers can borrow double of what they can borrow for EC? So buying PC is also bad? Btw, i am not advising anyone to borrow more than they are comfortable with, i’m just providing solution for those who wants to buy but yet are unable to get finances for it..

 

[Path-Finder]

Bro, RF walk to hougang mrt is probably 10-15mins, not 5mins

Cheaper, no, you are correct. Similar, maybe.
If you want to go by cheapest psf comparison, Riverfront residences has some transactions done around $1200 psf. Selected units (likely lesser demand ones) have extra discounts.

What do you get for that extra amount? 5 mins (not 10 mins) walk to Hougang MRT which is 17 mins to dhoby ghaut, upcoming cross island mrt line making Hougang MRT an interchange.

If I miss out anything, do correct me. Appreciated.