Rivercove Residences

[Clazav]

Only prive, vales and esparina are well located ec in NE imo.

Agree, but with prive being the better located ec, its resale psf is only 8xxpsf. Not close to the psf of nearby private condo like Parc centro, needless to say other poorer located ec.

 

[ashcrow]

Only prive, vales and esparina are well located ec in NE imo.

imo..vales is quite badly located. same for the other 2 ec beside it. belle water and treasure crest. it’s just next to the sengkang hospital. even the color theme is the same. imagine those units facing the hospital wards.

punggol got at least 8 ec i think. twin waterfalls and prive are the nearest to mrt..

 

[flashover]

Vales poorer of the 3 but still not bad.

Forgot about twin waterfalls but it does not have basement carpark.

Bellewaters looks good but location cmi

imo..vales is quite badly located. same for the other 2 ec beside it. belle water and treasure crest. it’s just next to the sengkang hospital. even the color theme is the same. imagine those units facing the hospital wards.

punggol got at least 8 ec i think. twin waterfalls and prive are the nearest to mrt..

 

[SKWSMC]

I am not saying that RC is not good but just seeing some posting about the potential of increase in value which I think is quite misleading. Especially when you compare RC to those other EC around when resale, what will be the main selling point? 1-3 years newer, does this point even matter to many? Pricing, other EC can sell cheaper than RC if they want as they getting at lower price. Location, RC is so call near the river so are you going to get 1 facing the river, if not what is your selling point, no to forget Terrace from PG also facing river.

So overall own stay ok, if you look for increase in value. Don’t put such hope in it. Inflation kind of increase yes but going to make a killing out of it... unlikely.

My sentiments exactly.

 

[birmingham123]

I am not saying that RC is not good but just seeing some posting about the potential of increase in value which I think is quite misleading. Especially when you compare RC to those other EC around when resale, what will be the main selling point? 1-3 years newer, does this point even matter to many? Pricing, other EC can sell cheaper than RC if they want as they getting at lower price. Location, RC is so call near the river so are you going to get 1 facing the river, if not what is your selling point, no to forget Terrace from PG also facing river.

So overall own stay ok, if you look for increase in value. Don’t put such hope in it. Inflation kind of increase yes but going to make a killing out of it... unlikely.

Actually only the sales volume will speak for itself.. i was hoping rc will launch at 900psf and see how much they can sell. Haha.

 

[SgSpyAcc]

How about the hundred palms? How much will be the resale? Any bounced out unit yet, seems no? Compared to RC, same developer and almost same launch period.

 

[Clazav]

I am not saying that RC is not good but just seeing some posting about the potential of increase in value which I think is quite misleading. Especially when you compare RC to those other EC around when resale, what will be the main selling point? 1-3 years newer, does this point even matter to many? Pricing, other EC can sell cheaper than RC if they want as they getting at lower price. Location, RC is so call near the river so are you going to get 1 facing the river, if not what is your selling point, no to forget Terrace from PG also facing river.

So overall own stay ok, if you look for increase in value. Don’t put such hope in it. Inflation kind of increase yes but going to make a killing out of it... unlikely.

The same goes for the pc. Parc botannia and high Park. But you still see good response for Parc botannia last year.

 

[Thomcat818]

Smart Usual hype la, when u sell at 1000psf 5 yrs later den tink its a profit when it barely covers much

I am not saying that RC is not good but just seeing some posting about the potential of increase in value which I think is quite misleading. Especially when you compare RC to those other EC around when resale, what will be the main selling point? 1-3 years newer, does this point even matter to many? Pricing, other EC can sell cheaper than RC if they want as they getting at lower price. Location, RC is so call near the river so are you going to get 1 facing the river, if not what is your selling point, no to forget Terrace from PG also facing river.

So overall own stay ok, if you look for increase in value. Don’t put such hope in it. Inflation kind of increase yes but going to make a killing out of it... unlikely.

 

[derong07]

Huat ah! a quick update onthe upcoming Rivercove & existing ECs!
(juz for reference, figures may not be 100% accurate)

Rivercove Residences (Sengkang): Est. TOP Sep 2020
Target to Launch: Est. late March or early April
Total of 628 units
3 Bedroom: 484 units
4 Bedroom: 112 units
5 Bedroom: 32 units

Northwave (Woodlands): Est. TOP Feb 2019
(abt 65 units left) Abt 81% sold
2 Bedroom fully sold!
3 Bedroom fr $753k
4 Bedroom fully sold!
5 Bedroom fully sold!
Penthouse fully sold!

The Brownstone (Canberra): Obtained TOP in Oct 2017!
(last unit left) Abt 99% sold
2 Bedroom fully sold!
3 Bedroom @$830,400 (last unit)
3 BR Premium fully sold!
4 Bedroom fully sold!

Signature At Yishun: Obtained TOP in Jul 2017!
(abt 78 units left) Abt 85% sold
2 Bedroom fully sold!
3 Bedroom fully sold!
3 BR Premium fr $807k
4 Bedroom fr $954k
4 BR Premium fully sold!

The Criterion (Yishun): Est. TOP 1Q 2018
(abt 9 units left) Abt 98% sold
2 Bedroom fully sold!
3 Bedroom fr $715k (last 4 units)
3 BR Premium fr $808k (last 7 units)
4 Bedroom fully sold!
4 BR Premium fr $1.006m (last 2 units)
5 Bedroom fully sold!
Penthouse fully sold!

Parc Life (Sembawang): Est. TOP Jul 2018
(abt 78 units left) Abt 88% sold
2 Bedroom fully sold!
3 Bedroom fr $729k
3BR + Universal fr $915k
4 Bedroom fully sold!
5 Bedroom fully sold!

 

[duckyboi]

Smart Usual hype la, when u sell at 1000psf 5 yrs later den tink its a profit when it barely covers much

I agree, i think the gain from an EC is over hyped. I am getting married next year so have been examining the market quite closely. One thing that everyone forgets is time value of money with the differerence you pay between a good location hdb and an EC.

Lets say EC 3rm sells around 770k-780k for mid floor. Assuming buyer is first timer with 30k grant, 110k cpf, 50k cash, then loan is ard 600k.

For a 4 bedroom resale flat you're looking at between 500k to max 650k depending on location. So assuming same buyer your loan is about say on the high side 460k. (Assuming if you buy a resale hdb you have to keep some $ for reno)

Now the difference in monthly mortgage, plus the slightly higher condo maintainence fee is around 870 a month. Assuming you take this $ and invest for 10 years at an interest rate of 5%, which is not very difficult, then after 10 years, you would get after 10 years about $130,000, reflecting a gain of 26% from the investment. This is independent of any gain you may get from selling the flat in itself, so in essence you are more 'diversified'. Lets assume a modest price appreciation of 10% of flat price. At the end of the 10 years you would have gained 65000+ 130000 = 190000.

Back to the EC: assuming starting price is about 850 psf and the price appreciates to 1200 psf, then the gain is 41%. However, this gain is ONLY realised upon selling the EC, and is dependent on the housing market. In this scenario you are treating the entire worth of your house as an inbestment so you are 780k vested in the housing market. To me this is a rather risky strategy. Remember, you still need a home, what if you cant sell at your desired price?
Nevertheless, if we assume that you can indeed sell the house for your 1200 psf and you bought at 850 psf, then your gain after 10 years is 330,000 (assume 950 sqft ec.)

Gains compared:
Resale hdb + investment: 190k, of which 130k is highly liquid and not dependent on housing market
EC: 330k, all of which os dependent on housing market and is illiqiuid

So of course you gain more from the ec but this is a highly risky strategy and i feel EC is an overhyped investment vehicle.

 

[hairyfatboy]

I agree, i think the gain from an EC is over hyped. I am getting married next year so have been examining the market quite closely. One thing that everyone forgets is time value of money with the differerence you pay between a good location hdb and an EC.

Lets say EC 3rm sells around 770k-780k for mid floor. Assuming buyer is first timer with 30k grant, 110k cpf, 50k cash, then loan is ard 600k.

For a 4 bedroom resale flat you're looking at between 500k to max 650k depending on location. So assuming same buyer your loan is about say on the high side 460k. (Assuming if you buy a resale hdb you have to keep some $ for reno)

Now the difference in monthly mortgage, plus the slightly higher condo maintainence fee is around 870 a month. Assuming you take this $ and invest for 10 years at an interest rate of 5%, which is not very difficult, then after 10 years, you would get after 10 years about $130,000, reflecting a gain of 26% from the investment. This is independent of any gain you may get from selling the flat in itself, so in essence you are more 'diversified'. Lets assume a modest price appreciation of 10% of flat price. At the end of the 10 years you would have gained 65000+ 130000 = 190000.

Back to the EC: assuming starting price is about 850 psf and the price appreciates to 1200 psf, then the gain is 41%. However, this gain is ONLY realised upon selling the EC, and is dependent on the housing market. In this scenario you are treating the entire worth of your house as an inbestment so you are 780k vested in the housing market. To me this is a rather risky strategy. Remember, you still need a home, what if you cant sell at your desired price?
Nevertheless, if we assume that you can indeed sell the house for your 1200 psf and you bought at 850 psf, then your gain after 10 years is 330,000 (assume 950 sqft ec.)

Gains compared:
Resale hdb + investment: 190k, of which 130k is highly liquid and not dependent on housing market
EC: 330k, all of which os dependent on housing market and is illiqiuid

So of course you gain more from the ec but this is a highly risky strategy and i feel EC is an overhyped investment vehicle.

Nicely written.

 

[SBC]

$130k gain from stock is illustration only.

 

[xun567]

Also, we should not forget the reno for resales is easily 100k cause it involves alot of hacking

 

[SBC]

Indeed is getting more ex.

My Reno on a very old apartment is about $100k.
My size is close to 1400 sqf.

GST is getting higher 2mrw.

 

[Justin6699]

Whoever interested in any EC (Rivercove, Criterion, Northwave, Parc Life EC) or any Condo, pls pm me to get more gifts + discounts.

 

[Mergui219067]

Do the developers still give ‘gifts & discount’
even at this stage of the property cycle ?

War chest ready ! HardwareZone Forums app

 

[duckyboi]

Also, we should not forget the reno for resales is easily 100k cause it involves alot of hacking

Reno from resale alr factored in. I put in 50k for reno. 100k is abit crazy unless u really want to do alot.

 

[bojangle]

Now the difference in monthly mortgage, plus the slightly higher condo maintainence fee is around 870 a month. Assuming you take this $ and invest for 10 years at an interest rate of 5%, which is not very difficult, then after 10 years, you would get after 10 years about $130,000.

don't think condo maintenance got so high at 870 per mth, moreover you are talking about EC. Usually is ard 300+ to 400+.
If you are taking this maintenance fee into consideration, then for HDB you need to add in conservancy charges and season car park fee as well, which total up about 200+ if you owns a car.

 

[xun567]

Reno from resale alr factored in. I put in 50k for reno. 100k is abit crazy unless u really want to do alot.

Depends on whether it is a 5 or 30 year old resales flat. 100k is really the norm for an old resales flat. Suggest you visit some IDs to get a quote if you are looking to buy resales

 

[Thomcat818]

I think he meant both mortgage diff and maintenance fees?

Dun tink can afford car after buying the ec hahaha

don't think condo maintenance got so high at 870 per mth, moreover you are talking about EC. Usually is ard 300+ to 400+.
If you are taking this maintenance fee into consideration, then for HDB you need to add in conservancy charges and season car park fee as well, which total up about 200+ if you owns a car.