Rivercove Residences

[fotoudavid]

The Suman 3 bedrooms will be 800 Sqf to made it affordable to most people.

800 Sqf x $1150 = $920000.

5 bedroom or penthouse will be limited edition.

I guess Suman will be comprise of majority 2 bedrooms and supported by 3 bedrooms. 4 bedrooms and above will be there but lesser. Maybe can see one penthouse only.

 

[nonagent]

Only problem is, we may not have seen the peak yet. High prices does not mean peak prices.

Thanks, there is always this fear of entering at the peak of the market. Should there be a crash I will be able to afford a much better condo than I can afford now

 

[Mergui219067]

800 sq ft =2- 3 tiny rooms may be the EC norm soon. Some living rooms may be only adequate for 30’’ TV . Lol

But such new condo are mostly sold out now.
One of them I saw was Star of Kovan.

The Suman 3 bedrooms will be 800 Sqf to made it affordable to most people.
800 Sqf x $1150 = $920000.
5 bedroom or penthouse will be limited edition.
I guess Suman will be comprise of majority 2 bedrooms and supported by 3 bedrooms. 4 bedrooms and above will be there but lesser. Maybe can see one penthouse only.

 

[fotoudavid]

It's already small bedrooms now for many condos. Imagine Suman, not forgetting AC ledge and balcony taking away some Sqf. Kitchen may need to squeeze into living room with glass partition. The master bedroom can put in queen size bed only.

 

[yamato]

All properties with a lease will be back to $0 just like HDB. What’s the point to buy so high just to hope your unit can be sold before the plunge in value ?

 

[Mergui219067]

Even HDB makes many buyers almost millionaires despite almost eventual zero value.

Heard of freehold, enbloc, upswing market in
private property market ?

All properties with a lease will be back to $0 just like HDB. What’s the point to buy so high just to hope your unit can be sold before the plunge in value ?

 

[jeslynsm]

Anyone interested in Rivercove latest upates, price guide, floor plan, appeal cases, showflat viewing, just PM me.

 

[birmingham123]

Recap: Sumang land plot was sold for S$583 psf ppr in Feb 2018. 17 bids were put in.

64% higher than top bid of S$355 psf ppr for Anchorvale Lane site in Aug 2016. This site is now Rivercove Residences EC. 16 bids were put in.

All i can say is developer has not much choice... they dun bid high, they have no more land and no projects... they bid high high but will risk no buyers... properties is not so guarantee like buying money into low risk bonds... rental yield is a very important factor... last time property price go up, rental also go up and thus people always think will in downpayment 200k for 1million condo, the installment will be fully covered by rental and maybe will get back 3-5% more... so is like put 200k and get returns and after 30years u own the condo...

Now property price go up, rental go down.. with more property buyer tax, u put in 300k for downpayment, yet, rental cannoy cover installment, why will it be worth to get a condo ? For own stay if no choice, but for investment then there will be better investment out there...

 

[Pokémon]

For own stay if no choice, but for investment then there will be better investment out there...

Not everyone knows how to invest, and which is better. If everyone knows, everyone huat liao...

 

[kkboy1]

indicative prices out.
Not cheap. The existing ECs prices are less than this.

 

[Mergui219067]

No inflation risk with bonds ?
Low risk bonds = low return

No rich people here strike gold with bonds .
It is more for retiree or some part of portfolio.

Singapore multimillionaires or billionaires are either property owners, developers , business ownership & Toto winners mostly.

....,
properties is not so guarantee like buying money into low risk bonds...

 

[OwningNothing]

Actually, Maybe they put this pricing out to test market. If people actually still buy good, but if not they still can lower the price.

 

[birmingham123]

No inflation risk with bonds ?
Low risk bonds = low return

No rich people here strike gold with bonds .
It is more for retiree or some part of portfolio.

Singapore multimillionaires or billionaires are either property owners, developers , business ownership & Toto winners mostly.

I doubt buying a condo now can make million either... u are putting million intoa condo and not guaranteed to sell it in future for the same million, that is what i mean.. bond is much safer with 5% annual return...

I agree in the past, investment in condo get god returns when rental yield can offset installment, but for now, that is not the case... oversupply already lead to lower rental...

 

[fotoudavid]

Actually, Maybe they put this pricing out to test market. If people actually still buy good, but if not they still can lower the price.

You know the bidding price for suman??? How to test market?? Their breakeven price is $1100....

 

[Gambler.]

You know the bidding price for rivercove??? How to test market?? Their breakeven price is $1100....

their cost (bid) is 355/psf iirc

 

[fotoudavid]

You know the bidding price for rivercove??? How to test market?? Their breakeven price is $1100....

I blur... Was referring to Suman actually.

 

[fotoudavid]

their cost (bid) is 355/psf iirc

Yup... I type thinking of rivercove but actually meant Suman.

 

[Mergui219067]

Nobody knows.
Should have stocks, bonds & at least a home here.
Don’t overgear your finance.

I doubt buying a condo now can make million either... u are putting million intoa condo and not guaranteed to sell it in future for the same million, that is what i mean.. bond is much safer with 5% annual return...

I agree in the past, investment in condo get god returns when rental yield can offset installment, but for now, that is not the case... oversupply already lead to lower rental...

 

[OwningNothing]

You know the bidding price for suman??? How to test market?? Their breakeven price is $1100....

LOL, Sumang different story la. Rivercove sure got room for profit, SGD 355PSF/PPR + 350 PSF est build cost. Now they testing market at 900++/PSF

 

[Zetrio2006]

LOL, Sumang different story la. Rivercove sure got room for profit, SGD 355PSF/PPR + 350 PSF est build cost. Now they testing market at 900++/PSF

Building cost prob not so high.

Agent will also pay $300 each to market the project and stationed at showflat for developer.