I am quite keen on the 2BR but I am price-driven and not in a hurry to buy.
For 2BR the range was:
Must buy: 1,450psf (approx 935k)
Great buy: 1,500-1,550psf (between 968k up to 1m)
Market rate: never list wor
I didn’t include the 2BR P or 2BR + study because lazy to type. But if you’re keen to hear hear, let me know.
By giving such indicative ranges, even if its an estimate, if it’s not reflective of the launch price, it may just backfire, no?
different agencies different strategy. Huttons, by quoting low, they may entice you to submit the cheque with them. even if the prices turn out higher or way higher, at least you will be within that agent's reach for sales & marketing talk. although as a prospective buyer, i'd be just turned off and will walk away.
For PN, at least they seem to give the impression that they are being realistic. Anything lower will be a bonus. even 1750psf is not (that) expensive, in the context of today's RCR new launches. If you speak to your really trusted agents, many also sincerely believe it will likely be 16xx-17xx.
of course, depends on what yardstick you use to measure value and worth. some will see the Penrose as being very near to the city centre, and be able to overlook the distance /accessibility to the MRT - so to them 1750 may be worth it. Yet to others, they cannot get over the fact that its so close to SUO yet more expensive + long walk to MRT, and they may not find the proximity to city centre of much comfort. YMMV.
whether the developers prioritise cashflow or profit margin will probably influence their pricing strategies too. some claim Amber Park & SKG's lacklustre performance may eventually force developers to cut prices there and thus use Penrose to recover some of that profit margin (thus higher psf over faster sales). Yet some will think developers may just want to get this new launch done and over with. It's as good as anybody's guesses really.
But in terms of a decent size launch (both # of units and unit size), for eastside RCR, Penrose is launched at a time where competition is fairly muted and they somewhat have pricing power. Lets see
FOMO will be real for this one. the D14 statistics they will use are: 1. PE already at 98% (as good as sold out) 2. PPR was a sell-out... 3. Penrose closest to Raffles place! What are you waaaaaaaaiting for?
Q no called in the late afternoon, agent kept trying to say sure good to buy..
