Happy National day to everyone. Good morning to one and all =)
Passerboy, thanks for the info sharing! I can't afford level 12 pricing haha because wife and I prefer 3bedders or bigger. ( We saw the 2 bedroom and it's not bad sized but wife wants one extra bed.)
Mr Nishizhu, oh I thought it is ok to share the questions u mentioned, but appreciate that passerboy has shared his answers nonetheless. Appreciate the advice alot!
I think the pros vs cons brought out by passerboy is similar to what my wife and I think.
The only thing(s) holding us back is that market violatlity, fears of a full blown recession happening in 6-12 months. Will prices ever be reduced? Somehow my gut feel is that property prices will dip/correct Abit .
I know I sound like I wanna catch a falling knife but i really want to make sure this is a good buy. Otherwise I will be depressed coming home to a place where i will lament and regret while forking out the mortgage.
Hope you get what I mean and appreciate all replies and advice once again.
I presume you had set a comfortable Budget for yourself. If u r looking at Parc esta 3 bedder, my assumption is your Budget should be around 1.5 to 1.6mil.
From my observation, we are already more than one year after the last CMs were implemented since last year’s July. Property soul, with her relentless effort in making a series of podcast and videos, predicted there will be a major price correction after the CMs. But are we seeing any major price correction till today?
Except for some projects that were priced ridiculously high during their initial launch, they have to succumb to giving some discount in order to move their units. But think about it, even at a 5-10% discount after some price adjustment made by some projects like the gazania/lilium, the gardens and woodleigh residence, does these projects move exceptionally fast? To me, even after the discount, price are still on the higher side for these projects.
Yes, it’s a fact recession may be coming. You have to ask yourself a few things:
1) is your job recession proof?
2) have u and your Wife set aside enough funds (that could last u for 2years) for any unforeseen emergency uses?
3) did u work on the basis of calculating your mortgage interest rate to be on the higher side?
If your answer is yes for the above, please go ahead and get Parc esta and you will have my blessing.
I personally like the project very much (due to its convenience and various amenities at doorstep). But do bear in mind, when comes to rentability and future selling, not only u need to compete against 1400 neighbours, u need to understand PPR and Katong regency are located at a more prime location and will be the main competitors of PE.
Last but not least, if u r harping on future enbloc for Parc esta, I would say the chances are slim as it’s a mega project afterall. Of cos, no one can tell what lies ahead of us.
If u ask me on my prediction whether Parc esta is going to give any further discount, my gut feel says no. Given its RCR location and psf, you can see more and more units are moving on each month. The Showflat recently just tear down the 5 bedder layout and rebuilt the 4 bedder layout. This is probably the developer’s next move to clear the 4 bedders at PE.
Have u noticed recently, even for the Florence, buying interest has started to pick up.
Another alternatives to consider, heard PPR left only 3-4 three bedder units, ranging from 17xxpsf. You may want to consider. Of cos, the quantum at PPR is slightly higher for sure.
Good luck in your house hunting.
Below is the monthly PE transaction.
