Pasir Ris 8 unofficial "guide price"

[NiShiZhu]

Cos $3000psf is still a reasonable psf to pay for a condo in Bugis -The M while $2100psf for Pasir Ris is pretty absurd? In all honesty I think both would lose money.

$3000psf why buy The M when can get Midtown Modern cheaper, $2100psf the options are aplenty.

Because in D7, there’s still some projects selling and crossing 3kpsf mark.
In Le Paris 8, 2.1kpsf is totally unheard of in D18, particularly Pasir Ris

 

[arctician]

good also lah dont bash the paris folks, lets see if GLS and new launch like canningpier will launch at 3.5k PSF...congrats to all PR8 buyers who bought at 1.8-2.1k psf..happy for you

 

[NiShiZhu]

Not bashing la, nothing wrong for those being honest and candid.
the 5pm to 9pm price so obscene I cannot pretend and say “congrats and good job buyers” right?

 

[wacko82]

nearly all sold. image from my FB friend whom i think is an agent

 

[arctician]

wah balance 15% units all sold at 2k psf..congrats man, now pasir ris is the new orchard.

 

[Passerboy]

good also lah dont bash the paris folks, lets see if GLS and new launch like canningpier will launch at 3.5k PSF...congrats to all PR8 buyers who bought at 1.8-2.1k psf..happy for you

I think Canninghill Piers will launch 26xxpsf then premium units they price near 4000psf for ppl to bite.

Follow the strategy of increasing interest, then later upsell premium units, since buyers of Canninghill Pier should have deep pockets.

 

[Passerboy]

Because in D7, there’s still some projects selling and crossing 3kpsf mark.
In Le Paris 8, 2.1kpsf is totally unheard of in D18, particularly Pasir Ris

Yeah lo, so next new launch in Pasir Ris can also sell at $2000psf alr (maybe slightly less cos Pasir Ris8 is integrated dev), since a new benchmark is set!

It’s akin to how Piermont Grand set a new benchmark for ECs, slowly other ECs pricing follow suit.

Not too long ago, $3000psf for D7 Bugis was unthinkable too. D21 resale prices also kept edging up aft a slew of new launch turned up there.

 

[Crappydevil87]

Hehe, honestly I dunno what u r trying to bring across
just wondering y u brought up centris to compare PR 8 when the two r totally different era condos.
Entry price is totally different, launch era also different, interest rate at that time was different, CMs wasn’t implemented during that era, your cap gain would not be restricted by SSD, ABSD if u own multiple properties and sold within 3 years etc.
And most importantly, centris entry price 600psf at that time for an OCR did not overtake most of the RCR or CCR.
But this le Paris 8 is now selling higher than some RCR new launch and close to CCR resale. So what’s the chance of making profit for those 5pm to 9pm Le Paris 8 buyers?
please enlighten

Don’t get me wrong, I agree with you, with the cooling measures in place, the upside for this vs Centris will definitely pale in comparison.

My point is, despite the taxes in place, Centris still saw a healthy appreciation post cooling measures, which rep the premium that people are willing to pay for such development. So same for PR8, there are people out there willing to pay such a premium for the project.

Yes prices for Centris driven perhaps by different factors to that of PR8, but we have rising land price for this era (as shown by the GLS bid at Lentor, Mayflower both at AMK) which will be going to act the new guide for pricing going forward, which is all going to be a positive for PR8.

but anyway, ultimately, back to my point, there is no single factor that will affect pricing. It’s always a myriad of factors, but as of now, I believe the outlook is still pretty bullish from a demand vs supply standpoint

 

[dareaper]

as in why the lease only start this month?

IIRC the developer paid to top up the lease to start in July 2021.

 

[NiShiZhu]

Don’t get me wrong, I agree with you, with the cooling measures in place, the upside for this vs Centris will definitely pale in comparison.

My point is, despite the taxes in place, Centris still saw a healthy appreciation post cooling measures, which rep the premium that people are willing to pay for such development. So same for PR8, there are people out there willing to pay such a premium for the project.

Yes prices for Centris driven perhaps by different factors to that of PR8, but we have rising land price for this era (as shown by the GLS bid at Lentor, Mayflower both at AMK) which will be going to act the new guide for pricing going forward, which is all going to be a positive for PR8.

but anyway, ultimately, back to my point, there is no single factor that will affect pricing. It’s always a myriad of factors, but as of now, I believe the outlook is still pretty bullish from a demand vs supply standpoint

I feel PR8 sells well because

1) basically, there’s nothing much to sell after most 2018/2019 new launches r either fully sold or near 90% plus sold, left over units r either selling at much higher price or with lousy facing. In short, not much choices Left. This cause Projects with lousy sales in the past like Antares and midwood also started to move recently.

2) PR8 is an integrated development and the hype is on 2 mrt lines. Secondly, It’s marketing tactics is also quite cunning by increasing price more than 5 times within a day which left the buyers immerse in stress with little time to react and thus, buying into FOMO. If the buyers r one of those hdb upgraders and first time buying a condo, they may not be ready for this kinda intense environment.

3) recent high GLS at amk and Lentor gives agents excuses to promote PR8 more aggressively and make it sound more convincing for PR8 buyers.

 

[zaclee]

Credit to Allgreen. An integrated development is always going to draw more eyeballs, and Allgreen came up with a reasonably good product and did really well.

Early buyers got a good product and a good deal at ard $1.4-1.5k psf… the subsequent price hikes would be an unexpected bonus to give more buffer.

As for those who entered at $2k+ psf, I guess they see some value that others missed. It could be genuine homeowners who are less sensitive to $ psf over other factors, and hope it works out.

If that’s the way prices move, this does present some “opportunities” for RCR/CCR new launches in low-mid $2k psf in terms of relative value.

 

[sinequa88]

i dont know why but i've got this small feeling that this pricing strategy by AG, despite having been practiced before, will somehow invite some "comment" from the URA body this time..

we shall see!

when a buyer at the middle-stage or later-stage of launch day requests for a price quote, he may not have known how much the earlier price was (assuming there was price increase for his unit requested). the only information he would be likely to have known is how many units are sold. if the sales for the earlier stages were good (and it was), he might have thought that many buyers earlier bought units at the psf that he is being quoted now. this psychologically conditions the buyer to think that whatever psf he is being quoted now is 'reasonable', since he would erroneously think that many buyers before him also bought at a similar psf, which from the facts of the case, may be unlikely true. i doubt the agents representing the buyer would know whether there was a price increase, or even if the agents knew, whether they would also inform the poor buyer. i think its this information asymmetry, which is a result of a process which is so intentionally orchestrated, that is really sneaky and..not so gentlemanly.

even if there is a willing buyer for these 2k psf, a lot of the way this process is set up is bent on creating euphoria and might i add, hysteria..

 

[arctician]

Credit to Allgreen. An integrated development is always going to draw more eyeballs, and Allgreen came up with a reasonably good product and did really well.

Early buyers got a good product and a good deal at ard $1.4-1.5k psf… the subsequent price hikes would be an unexpected bonus to give more buffer.

As for those who entered at $2k+ psf, I guess they see some value that others missed. It could be genuine homeowners who are less sensitive to $ psf over other factors, and hope it works out.

If that’s the way prices move, this does present some “opportunities” for RCR/CCR new launches in low-mid $2k psf in terms of relative value.

actually we all should be happy PR8 did well at 2.1k PSF mah, like that those who bought RCR at $16-2k PSF or holding CCR D9 FH at $21-25xx PSF get to enjoy more upside. So good job paris ris folks for making SG asset inflation dream come true, not sure which is the next new launch hope its equally exciting with 40+ pages within days.

 

[NiShiZhu]

actually we all should be happy PR8 did well at 2.1k PSF mah, like that those who bought RCR at $16-2k PSF or holding CCR D9 FH at $21-25xx PSF get to enjoy more upside. So good job paris ris folks for making SG asset inflation dream come true, not sure which is the next new launch hope its equally exciting with 40+ pages within days.

But the problem is no one likes resale
PR8 buyers probably also forgotten their unit will soon enter resale/subsale.

 

[arctician]

But the problem is no one likes resale
PR8 buyers probably also forgotten their unit will soon enter resale/subsale.

not really leh if the resale hard to sell usually its because of less desirable attributes like floor, view, or boutique development or 1 bedder. some bt timah condo like sixth avenue residences, 1 week sold liao at seller asking price and 20% premium over bank valuation

PR8 high chance its another reflection to be...because profit is made at point of purchase, not point of sale

 

[Passerboy]

not really leh if the resale hard to sell usually its because of less desirable attributes like floor, view, or boutique development or 1 bedder. some bt timah condo like sixth avenue residences, 1 week sold liao at seller asking price and 20% premium over bank valuation

PR8 high chance its another reflection to be...because profit is made at point of purchase, not point of sale

Have to look at the profile too, BT condos mostly buyers have deep pockets or a strong need to stay there example for schools, hence they are more willing to splurge on a good unit perhaps?

I’m not sure if Pasir Ris 8 buyers profile is such too, but the draw could be that it’s an integrated development, and there are few such integrated developments ard.

 

[CaptainSGP]

2k psf… might as well buy at woodleigh, also is integrated dev, underground mrt some more

Umbrage will umbrage no more

 

[sinequa88]

Umbrage actually sounds like a very good and act-atas name for a condomium. Maybe the Lentor or AMK GLS site can consider Umbrage..

Umbrage Modern
Umbrage By The Park
One Umbrage
Umbrage Bay

 

[arctician]

Have to look at the profile too, BT condos mostly buyers have deep pockets or a strong need to stay there example for schools, hence they are more willing to splurge on a good unit perhaps?

coz no one there is willing to sell, i been viewing resale there for 6 months, everytime there is one unit at sixth avenue residences or floridian, its very hard to get viewing because slots always full on daily basis, and even if you get through the screening..there will be buyers who issued cheque to meet the seller's asking and you will be sucked into an unhealthy bidding war, and i always walk away. you will also NEVER be able to buy at last transacted price, paying a premium is a must because there are others who will if you dont.

all these are resale which are 10 yo and FH.

So end of the day there are resale which are easy to sell, and others which are hard to sell. It takes alot learning on youtube to slowly understand the desirable attributes and pitfall to avoid

 

[Passerboy]

coz no one there is willing to sell, i been viewing resale there for 6 months, everytime there is one unit at sixth avenue residences or floridian, its very hard to get viewing because slots always full on daily basis, and even if you get through the screening..there will be buyers who issued cheque to meet the seller's asking and you will be sucked into an unhealthy bidding war, and i always walk away. you will also NEVER be able to buy at last transacted price, paying a premium is a must because there are others who will if you dont.

all these are resale which are 10 yo and FH.

So end of the day there are resale which are easy to sell, and others which are hard to sell. It takes alot learning on youtube to slowly understand the desirable attributes and pitfall to avoid

Maybe cos Bukit Timah. Also noticed Floridian prices keep trending higher than previous transaction. Didn’t track Sixth Avenue Residences though.