Pasir Ris 8 unofficial "guide price"

[bujingyun82]

https://www.edgeprop.sg/property-news/pasir-ris-8-behind-price-increases

Prices had started at about $1,400 psf on the morning of July 24. The developer is said to have increased prices six times throughout the day. The biggest round of price hikes occurred at 8pm, according to agents, where two-bedroom units saw the biggest jump of close to $360,000. A two-bedroom, ninth-floor unit of 710 sq ft with an indicative selling price of $1.145 million ($1,613 psf) at 9am was eventually sold for 31.3% higher at $1.503 million ($2,116 psf) at 10.30pm.

“Prices had started at a reasonable rate, and they were revised upward on several occasions,” according to an agent who requested anonymity. “It’s a function of supply and demand as the developer was gauging the strength of the take-up and increased prices along the way.”

 

[bujingyun82]

2.1k psf!!!! Huat ah!!

 

[NiShiZhu]

2.1k psf!!!! Huat ah!!

Don’t make me happy, my RCR can try for 3kpsf or not?
But wait, no one loves resale

 

[1993newbie]

https://www.edgeprop.sg/property-news/pasir-ris-8-behind-price-increases

Prices had started at about $1,400 psf on the morning of July 24. The developer is said to have increased prices six times throughout the day. The biggest round of price hikes occurred at 8pm, according to agents, where two-bedroom units saw the biggest jump of close to $360,000. A two-bedroom, ninth-floor unit of 710 sq ft with an indicative selling price of $1.145 million ($1,613 psf) at 9am was eventually sold for 31.3% higher at $1.503 million ($2,116 psf) at 10.30pm.

“Prices had started at a reasonable rate, and they were revised upward on several occasions,” according to an agent who requested anonymity. “It’s a function of supply and demand as the developer was gauging the strength of the take-up and increased prices along the way.”

Oh gosh, I think I know the agent identity. The world is so small.

 

[Passerboy]

https://www.edgeprop.sg/property-news/pasir-ris-8-behind-price-increases

Prices had started at about $1,400 psf on the morning of July 24. The developer is said to have increased prices six times throughout the day. The biggest round of price hikes occurred at 8pm, according to agents, where two-bedroom units saw the biggest jump of close to $360,000. A two-bedroom, ninth-floor unit of 710 sq ft with an indicative selling price of $1.145 million ($1,613 psf) at 9am was eventually sold for 31.3% higher at $1.503 million ($2,116 psf) at 10.30pm.

“Prices had started at a reasonable rate, and they were revised upward on several occasions,” according to an agent who requested anonymity. “It’s a function of supply and demand as the developer was gauging the strength of the take-up and increased prices along the way.”

Read the article, now I think a good number of buyers entered below $1600psf, since price revision above $1600psf were after 6pm, by then it was already 70% sold if I recall.

Of cos buyers w later queue numbers would definitely feel unfair, since price is up to $2000psf, but it’s still a demand and supply issue, developers are profit driven.

Congrats to the early birds who got it at $14xxpsf! Big

 

[scanner007]

2.1k psf!!!! Huat ah!!

Horay! Make all existing CCR/RCR looks cheap! Time to increase price!

Anyway, if such price trending behaviour, I will worry for our future generations whether they can afford houses in future(like HK).

 

[bujingyun82]

“While waiting her turn, she found that the unit of her choice was already been taken by the time she was in the queue. Her booking slot was initially 4pm, but by the time she entered the queue, it was about 5.30pm. Given that the unit she wanted had been taken, she chose another two-bedroom type as alternative. As more units were sold along the way, the asking price of her selected units increased by $20,000 by 6pm.

When it was her turn to book a unit, it was 6.50 pm. The project was said to be 80% sold by then. The asking price of the two-bedroom unit she had selected was also adjusted upwards by $150,000. “I couldn’t believe it, thus I asked for a confirmation of the pricing,” she recounts in a phone interview. “We were shocked with the price increase. I wasn’t prepared to pay for the huge increase and decided to walk away from the purchase.”
=====

Seriously damn screw up.

 

[arctician]

If have the chance to sell out in one weekend, why not do so? Why raise prices and risk not able to sell those higher quantum units after giving ppl time to research on the price disparity?

when prices are rising its good to hold inventory in upmarket, esp now land bid prices are getting higher, they have 5 years to sell before ABSD kick in and now they clear inventory in a day, this is not optimal, potentially they have left money on table which can help raise margins and shareholder returns further

 

[rockmillion]

what a happening day at PR8!. Developer played with the emotion of people and laughing to the bank

if price increased 6 times in a day is true, then buyer remorse will be at peak when caveat will be out and level X buyer will see that same stack higher level is 100K-300K cheaper than what he bought.

 

[rockmillion]

“While waiting her turn, she found that the unit of her choice was already been taken by the time she was in the queue. Her booking slot was initially 4pm, but by the time she entered the queue, it was about 5.30pm. Given that the unit she wanted had been taken, she chose another two-bedroom type as alternative. As more units were sold along the way, the asking price of her selected units increased by $20,000 by 6pm.

When it was her turn to book a unit, it was 6.50 pm. The project was said to be 80% sold by then. The asking price of the two-bedroom unit she had selected was also adjusted upwards by $150,000. “I couldn’t believe it, thus I asked for a confirmation of the pricing,” she recounts in a phone interview. “We were shocked with the price increase. I wasn’t prepared to pay for the huge increase and decided to walk away from the purchase.”
=====

Seriously damn screw up.

There should be some consumer protection law for this kind of extreme tactics specially within the same day.

 

[glorfindel]

what a happening day at PR8!. Developer played with the emotion of people and laughing to the bank

if price increased 6 times in a day is true, then buyer remorse will be at peak when caveat will be out and level X buyer will see that same stack higher level is 100K-300K cheaper than what he bought.

Raising price 6 times in one day is just emotional manipulation. In the heat of the moment its so easy to get carried away.

 

[ThinkCarefully]

###

They should do phase 1 and phase 2, like ppr.

Phase 1: about 1,600
Phase 2: about 1,900

Then they dun feel hard done, Avg price about 17xx psf


###

 

[arctician]

what a happening day at PR8!. Developer played with the emotion of people and laughing to the bank

if price increased 6 times in a day is true, then buyer remorse will be at peak when caveat will be out and level X buyer will see that same stack higher level is 100K-300K cheaper than what he bought.

but OTP issued, so have to forgo 1.25% of purchase price, ard $20K+, still a big amt to heartlander in PR

its like preying on emotion..if you dont buy now later there will be a 3rd 4th 5th tranche of price increase, so do you buy now even when its 1.8k psf? Some may get emotionally manipulated and buy before next round of increase at 6pm..good tactic siah

 

[NiShiZhu]

Am expecting some bounce out units.
Maybe after these suckers had calmed down, they may come to their senses and forfeit the fee.
loss 1.25% better than losing a few hundred k in resale

 

[Passerboy]

“While waiting her turn, she found that the unit of her choice was already been taken by the time she was in the queue. Her booking slot was initially 4pm, but by the time she entered the queue, it was about 5.30pm. Given that the unit she wanted had been taken, she chose another two-bedroom type as alternative. As more units were sold along the way, the asking price of her selected units increased by $20,000 by 6pm.

When it was her turn to book a unit, it was 6.50 pm. The project was said to be 80% sold by then. The asking price of the two-bedroom unit she had selected was also adjusted upwards by $150,000. “I couldn’t believe it, thus I asked for a confirmation of the pricing,” she recounts in a phone interview. “We were shocked with the price increase. I wasn’t prepared to pay for the huge increase and decided to walk away from the purchase.”
=====

Seriously damn screw up.

I feel that the buyer is soured by the price increase, but then again would one rather Pasir Ris8 launch at an in-band price of $16-18xxpsf with no price increase thruout the day or have it launch at $14xxpsf with multiple rounds of increase.

Those who benefited by getting a cheap unit would have hoped that the pricing strategy was as per yesterday while those who missed out getting a choice unit would hope for an in-band launch price thruout the day. No right no wrong but developer has full prerogative on the pricing strategy, it is about what worked for them.

 

[NiShiZhu]

I feel that the buyer is soured by the price increase, but then again would one rather Pasir Ris8 launch at an in-band price of $16-18xxpsf with no price increase thruout the day or have it launch at $14xxpsf with multiple rounds of increase.

Those who benefited by getting a cheap unit would have hoped that the pricing strategy was as per yesterday while those who missed out getting a choice unit would hope for an in-band launch price thruout the day. No right no wrong but developer has full prerogative on the pricing strategy, it is about what worked for them.

Touch our heart and ask ourselves, did those who bought at 16xxpsf really get a good deal? 14xxpsf maybe, but definitely not 16xxpsf. Let alone the siao kia who bought at 2.1kpsf.
Would any of the bros here willing to buy from them at 18xxpsf after TOP?

Go by this rule and try to put yourself in different angle. Usually can’t go terribly wrong.

 

[Passerboy]

but OTP issued, so have to forgo 1.25% of purchase price, ard $20K+, still a big amt to heartlander in PR

its like preying on emotion..if you dont buy now later there will be a 3rd 4th 5th tranche of price increase, so do you buy now even when its 1.8k psf? Some may get emotionally manipulated and buy before next round of increase at 6pm..good tactic siah

This tactic is also deployed by agents both in the new launch and resale market.

New launch they would say developer increasing price soon if u don’t buy now u may be priced out.

Resale they would tell u there is already X number of persons interested, and the offer price is alr X (higher than urs). Do u want to revise ur offer upwards.

seen too many such tactic, so always good to DYODD.

I feel that during the era when new launch show hand the entire price list there is greater transparency, and I for one don’t like buying on launch day. Would rather wait and pay a higher price if I’m really keen on the unit.

 

[Passerboy]

Touch our heart and ask ourselves, did those who bought at 16xxpsf really get a good deal?
Would any of the bros here willing to buy from them at 18xxpsf after TOP?

Go by this rule and try to put yourself in another angle. Usually can’t go terribly wrong.

I feel that those who really got themselves a good deal are those who entered at $14xxpsf.

Those who got at $16xxpsf perhaps got a “fair” deal. If u read the article the buyer who walked away also felt that those who entered at $14xxpsf got a good deal.

xxxxxxxxxxxxx

She adds: “If prices increased that much, those who bought earlier were lucky, but it won’t be fair for the later buyers, not to mention that the increase was for the least preferred units.”

 

[rockmillion]

but OTP issued, so have to forgo 1.25% of purchase price, ard $20K+, still a big amt to heartlander in PR

its like preying on emotion..if you dont buy now later there will be a 3rd 4th 5th tranche of price increase, so do you buy now even when its 1.8k psf? Some may get emotionally manipulated and buy before next round of increase at 6pm..good tactic siah

yah true. its cruel to play with people emotions just because you have a good buffer because you bought the land cheaper.

Strongly feel that there should be price locked and transparency for first week of launch. If someone buy big ticket items, such as property, then it should be well informed decision.

 

[rockmillion]

Touch our heart and ask ourselves, did those who bought at 16xxpsf really get a good deal? 14xxpsf maybe, but definitely not 16xxpsf. Let alone the siao kia who bought at 2.1kpsf.
Would any of the bros here willing to buy from them at 18xxpsf after TOP?

Go by this rule and try to put yourself in different angle. Usually can’t go terribly wrong.

14XX is v good deal specially after today drama

~ 1600 fair

1695 and up -- time will tell haha