Rivercove Residences

[birmingham123]

What has that to do with properties?

I have stocks & bonds .
Property is another class of asset.

U saying if i face reality ma... so i face reality by not buying overpriced property lah... in fact, looking at the right time to ask my relative sell their 2nd property... it has been vacant since last year nov... the last tenant move out in nov with rental fee of 3300 which can fully cover the condo installment... but this 4 months, no one even offer 2.9k... good news is developers increase the property prices but then the open market is like. Not affected at all...the prices like still maintain... few years later when market too many condos for sale, think my relative will need to sell at a loss liao haha...

 

[Clazav]

depends on the mindset of people bah, some like new things, some dont mind second hand, this is what i like to tell my friends.

Tapestry 1.3k PSF, the ALPS / Santorini /Q bay just beside them going for 950-1.2k PSF right besidea and already built - why get Tapestry ?
and 1.3k is the 'discounted price' as advertised by agencies. so is the price of tapestry going to rise to 1.4 or something ? will alps / santorini rise to match tapestry ?

maybe the place of worship beside tapestry will bless tapestry/surrounding condos and get more buyers when they want to flip their property - if i want to buy the area

True but the number of years are also lesser. There are many things to consider though so it is not just a simple fact that a higher launch psf making the other lower psf project gains.

 

[OwningNothing]

I went house hunting early last year.
The Star of Kovan showroom was quiet with
mostly many agents playing with handphones Most units were unsold.
Even the agent who showed around said it
was overpriced as my belief too at that time.

But it has since almost completely sold up by now. Possibly even at higher price than early last year.

Other ‘overpriced to me at that time’ ones in Tiong Bahru, Commonwealth & Queensway
are mostly gone now.

The moral of the story .......

N.B. I am not a property agent

Yes, the developers are increasing pricing of units like hot cakes because of "Good Market sentiments" They are the ones earning i guess. However it has yet to be seen in the resale markets.

Money is not gained unless you see it in the bank.

Unless you are expecting to stay in the unit yourself. Otherwise forget it. Probably will not earn much from rent. Because of oversupply.

 

[and_who]

would the property bulls here mind sharing why the market is bullish (other than positive sales of new units (which went down dramatically in feb btw))?

Interest rates are rising and foreign tenants are harder to find - meaning more existing owners find it harder to service loans and leading to more mortgagee sales.

perhaps the bullishness is only due to displaced enbloc homeowners buying replacements?

 

[birmingham123]

would the property bulls here mind sharing why the market is bullish (other than positive sales of new units (which went down dramatically in feb btw))?

Interest rates are rising and foreign tenants are harder to find - meaning more existing owners find it harder to service loans and leading to more mortgagee sales.

perhaps the bullishness is only due to displaced enbloc homeowners buying replacements?

Enbloc owners will also try bargain hunting in open market first right ? If they spend profits on overpriced condo, might as well dun enbloc ma... and developers are actually making more units after enbloc so i doubt enbloc buyers can make a big impact in terms of demand...

 

[justmee]

At min 900psf isn't Rivercove going to be same or even more expensive than High Park at launch? Those who bought must be laughing their way to the bank now..

The latest transacted price for the balance units of Criterion and Signature at Yishun EC ...ranges from approx 850psf to 940psf+

 

[kiatme]

That's because it's near TOP, not much because of market trend

 

[fotoudavid]

So you think high Park resale can sell at 1200psf like Parc botannia? I don't think so.

I don't know as no one can predict the future. But i am sure people who bought high park sure happy about it. It's just side by side and they bought it cheaper

 

[Mergui219067]

There are always some ‘experts’ or latecomers
who would move when all positive data are in
place.

There is no way to flip the market esp ECs (which has since mostly so out).
Most of us who bought last year sensed that
the market has bottomed out & moved fast.

If you do trade stocks ,you should know not all the sectors would move at one shot.
Many of us buy stocks at different part of the
cycle.

It is still early day for the private property cycle.
The $enbloc$ & many of those who missed the early boat may house hunting
resale soon .

Yes, the developers are increasing pricing of units like hot cakes because of "Good Market sentiments" They are the ones earning i guess. However it has yet to be seen in the resale markets.

Money is not gained unless you see it in the bank.

Unless you are expecting to stay in the unit yourself. Otherwise forget it. Probably will not earn much from rent. Because of oversupply.

 

[and_who]

Enbloc owners will also try bargain hunting in open market first right ? If they spend profits on overpriced condo, might as well dun enbloc ma... and developers are actually making more units after enbloc so i doubt enbloc buyers can make a big impact in terms of demand...

thats why I am very curious why there are so many property bulls. each to his own but would really like to hear reasons why, as I am considering entering the market for first home.

 

[watchlist88]

I don't know as no one can predict the future. But i am sure people who bought high park sure happy about it. It's just side by side and they bought it cheaper

If you have bought a unit as a 2nd property, then
yes it is good if there are rising prices. But for EC buyers or most others, can only afford 1 house which is for own stay. If sell high later, also got to buy high too cause sure need a replacement house. Unless you willing to downgrade back to resale HDB different story.

Problem is most want to upgrade to bigger house or better location and the vicious cycle continues with buying a more expensive house later on. More bank loan, see no light to retirement, asset rich cash poor, etc.

But the larger issue here is that such rising uncontrolled housing costs are detrimental to your own children decades down the road when they want to buy their house. And we certainly don't want them to end up like HK with such tiny units.

 

[Clazav]

I don't know as no one can predict the future. But i am sure people who bought high park sureI happy about it. It's just side by side and they bought it cheaper

For staying, sure happy one. But don't forget the thousands of EC units. It is just that among sk pc, it is a good buy.

The resale psf in many areas has yet to rise much in fact.

 

[Clazav]

thats why I am very curious why there are so many property bulls. each to his own but would really like to hear reasons why, as I am considering entering the market for first home.

What I can offer is that
1. regionally sg properties are more affordable than many major cities,
2. have hdb to protect us so price skyrocketing is not as detrimental as compared to places like hk,
3. fear of losing out mindset,
4. Series of en bloc,
5. probable increase in foreigners in time to come

Let's look at the park place residents take up rate in few weeks times. RC is not indicative of the bullish sentiment as it is an ec.

 

[fotoudavid]

If you have bought a unit as a 2nd property, then
yes it is good if there are rising prices. But for EC buyers or most others, can only afford 1 house which is for own stay. If sell high later, also got to buy high too cause sure need a replacement house. Unless you willing to downgrade back to resale HDB different story.

Problem is most want to upgrade to bigger house or better location and the vicious cycle continues with buying a more expensive house later on. More bank loan, see no light to retirement, asset rich cash poor, etc.

But the larger issue here is that such rising uncontrolled housing costs are detrimental to your own children decades down the road when they want to buy their house. And we certainly don't want them to end up like HK with such tiny units.

That's why i always say do not be happy if you earn a lot from your property 10 years later. In fact your own kids will suffer.

 

[fotoudavid]

For staying, sure happy one. But don't forget the thousands of EC units. It is just that among sk pc, it is a good buy.

The resale psf in many areas has yet to rise much in fact.

2025 should have a better idea. Anyway, they are staying there not shifting any more.

 

[Mergui219067]

Many parents pass the present homes to
the children later.
Worse if you have nothing for them.

The property here in the long term is always up.

That's why i always say do not be happy if you earn a lot from your property 10 years later. In fact your own kids will suffer.

 

[and_who]

What I can offer is that
1. regionally sg properties are more affordable than many major cities,
2. have hdb to protect us so price skyrocketing is not as detrimental as compared to places like hk,
3. fear of losing out mindset,
4. Series of en bloc,
5. probable increase in foreigners in time to come

Let's look at the park place residents take up rate in few weeks times. RC is not indicative of the bullish sentiment as it is an ec.

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

 

[fotoudavid]

Many parents pass the present homes to
the children later.
Worse if you have nothing for them.

The property here in the long term is always up.

True. Too expensive to own one in the next few years.

 

[Mergui219067]

CityDev would shrink Sumang to make
the quantum affordable ,just like all new condo.

Sumang EC probably will be $1.1-1.2 million for
a decent 1k size.
Many young couple may need parental $help$ or go 600 sq ft.

True. Too expensive to own one in the next few years.

 

[propertyinvest]

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.