Rivercove Residences

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eric93

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All in all, if those can afford for this new EC, I say go for it.
After all EC still consider a gift price range from government compare to PC. lol
 
watchlist88

watchlist88

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You all so scared that don't buy Rivercove EC now, Sumang EC will be higher at perhaps average $1100psf.

But have you all thought if Rivercove EC got a lousy take up rate at launch due to high prices then subsequent bidding for EC land is much more tempered such that Sumang EC developer regretted paying $583psf for the land ? You all keep assuming prices will keep going up with all the talk by agents and the media and developers who have all conspired to jack up sentiments in the property sector ?

You see what happens if Rivercove EC has a lousy take up rate at that kind of pricing. As a developer, I will reassess whether the next EC land price bidding is realistic to sell.
 
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AlexPiero

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watchlist88 said:
You all so scared that don't buy Rivercove EC now, Sumang EC will be higher at perhaps average $1100psf.

But have you all thought if Rivercove EC got a lousy take up rate at launch due to high prices then subsequent bidding for EC land is much more tempered such that Sumang EC developer regretted paying $583psf for the land ? You all keep assuming prices will keep going up with all the talk by agents and the media and developers who have all conspired to jack up sentiments in the property sector ?

You see what happens if Rivercove EC has a lousy take up rate at that kind of pricing. As a developer, I will reassess whether the next EC land price bidding is realistic to sell.
Click to expand...


I agree. People are assuming that Psf will only rise up infinitely. It would happen only if our economy and salary rise exponentially as well. But the law of economic doesnt work that way.
 
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Muneyzmart

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As long as everyone in Singapore adopts an attitude that investing in property will not go wrong, this self fulfilling prophecy will happen because everyone will always buy thinking that property prices will keep creeping up.

https://www.propertyguru.com.sg/pro...ercove-residences-ec-oversubscribed-2-5-times

I personally think that the property bull run poses a high premium to purchase a property in Singapore. However, compare this premium relative to first world countries (i.e HK, UK, USA etc.), property in Singapore is still relatively affordable with annual income to value of purchase hovering around 5 years.

watchlist88 said:
You all so scared that don't buy Rivercove EC now, Sumang EC will be higher at perhaps average $1100psf.

But have you all thought if Rivercove EC got a lousy take up rate at launch due to high prices then subsequent bidding for EC land is much more tempered such that Sumang EC developer regretted paying $583psf for the land ? You all keep assuming prices will keep going up with all the talk by agents and the media and developers who have all conspired to jack up sentiments in the property sector ?

You see what happens if Rivercove EC has a lousy take up rate at that kind of pricing. As a developer, I will reassess whether the next EC land price bidding is realistic to sell.
Click to expand...
 
watchlist88

watchlist88

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Let me add on. Hoi Hup and all developers actually are opportunists. Hoi Hup smelled instantly an opportunity when Sumang EC sold for $583 psf. So they prey on "fear of missing out", but they can easily sell at average $850 psf and still profitable anyway since land price was around $340 psf. So markup higher now and see what happens later. Agents play along with this tactic too as they have vested interests.

But the EC buyers can have the final say on how EC prices turn out later down the road by saying no to high prices. Unfortunately, majority have the kiasu and kiasi mentality, so the tactic of "fear of missing out" works pretty well here !!
 
endlssorrow

endlssorrow

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AlexPiero said:
I agree. People are assuming that Psf will only rise up infinitely. It would happen only if our economy and salary rise exponentially as well. But the law of economic doesnt work that way.
Click to expand...

Not an expert in this law. But from the government point of view, the housing of EC and private and even BtO will just keep on up rising for sure. Economy won't be gloomy and salary for FT and ft made citizen will go up
 
Gambler.

Gambler.

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watchlist88 said:
Let me add on. Hoi Hup and all developers actually are opportunists. Hoi Hup smelled instantly an opportunity when Sumang EC sold for $583 psf. So they prey on "fear of missing out", but they can easily sell at average $850 psf and still profitable anyway since land price was around $340 psf. So markup higher now and see what happens later. Agents play along with this tactic too as they have vested interests.

But the EC buyers can have the final say on how EC prices turn out later down the road by saying no to high prices. Unfortunately, majority have the kiasu and kiasi mentality, so the tactic of "fear of missing out" works pretty well here !!
Click to expand...

agree, i think it's a "pry on psychological" game
 
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kiatme

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Don't listen so much lah hahaha, just discuss with your partner, if want just buy, don't want just bto, don't be influenced or forced into buying just because you have no choice.

Listen to all the goods and bad listen until cow come home also won't end, who knows listen too much next time take this topic out to quarrel with your partner. There's a saying 不知者无罪

No lack of BTOs anyway, more importantly is to secure a roof over your head (for the first timers)
 
C

Clazav

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watchlist88 said:
Let me add on. Hoi Hup and all developers actually are opportunists. Hoi Hup smelled instantly an opportunity when Sumang EC sold for $583 psf. So they prey on "fear of missing out", but they can easily sell at average $850 psf and still profitable anyway since land price was around $340 psf. So markup higher now and see what happens later. Agents play along with this tactic too as they have vested interests.

But the EC buyers can have the final say on how EC prices turn out later down the road by saying no to high prices. Unfortunately, majority have the kiasu and kiasi mentality, so the tactic of "fear of missing out" works pretty well here !!
Click to expand...

Developers must be opportunists. It is expected and predicted. RC and sumang ec helping each other out. Very easy to see. And when sumang about to launch, you might see another movement by government ---> to raise the ec income Ceiling. Then sumang ec price will explode.
 
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