Treasure Crest

[celeste_blur]

Totally agreed that most EC r overpriced and looking at those full condo only hit 700psf... How much more do we expect after it reach 5-10 years from current 780psf price

Buying EC at a low price will not lose money. For Sengkang these new ECs anything above $700psf most prob lose money. Look at Compass Heights pte condo of 12-13 yrs directly above Sengkang Mrt location wise so much better but currently transacting around $800-$850 psf only.

 

[celeste_blur]

According to URA records, there were 7 transactions for the latest month of June 2016 for La Fiesta.

The lowest psf was $1,091 psf for a Level 01 to 05 1,367 sq ft unit.

The highest psf was $1,309 psf for a Level 11 to 15 1,367 sq ft unit

Source: URA

For the one that bought at $1309psf i really wonder why they commit? At this price they might be able to fetch a unit at RCR region!

 

[ecobuyer]

Buying EC at a low price will not lose money. For Sengkang these new ECs anything above $700psf most prob lose money. Look at Compass Heights pte condo of 12-13 yrs directly above Sengkang Mrt location wise so much better but currently transacting around $800-$850 psf only.

According to URA, there were 2 transactions for Compass Height in Jun 2016. They were for 1,324 sq ft and 1,335 sq ft - $880 psf and $920 psf.

The psf is for larger units. Typically, psf for larger units are lower.

Compass height lease starts from 2000 i.e. it is a 16-year old condo.

When comparing across condos or ECs, it might not be a meaningful comparison to compare a new development with a 16-year old condo.

 

[celeste_blur]

According to URA, there were 2 transactions for Compass Height in Jun 2016. They were for 1,324 sq ft and 1,335 sq ft - $880 psf and $920 psf.

The psf is for larger units. Typically, psf for larger units are lower.

Compass height lease starts from 2000 i.e. it is a 16-year old condo.

When comparing across condos or ECs, it might not be a meaningful comparison to compare a new development with a 16-year old condo.

Try doing a search in propertyguru for compass heights? I just did a search and most of the units selling are arnd $800+psf price range. And i think that condo was in 2003 not 16 years? Btw if you calculate based on lease. For ECs even when u move in its considered as 3-4year old condo then?

 

[ecobuyer]

My bigger point is we should not compare with a 13 year or 16 year old condo.

If you wish to compare the prices of Treasure Crest, you could consider prices of surrounding ECs under construction.

For example,

What is the average psf of Vales EC?

What is the average psf of Bellewaters EC?

All these are ECs under developments and could be better benchmarks.

 

[Arrowfish]

Try doing a search in propertyguru for compass heights? I just did a search and most of the units selling are arnd $800+psf price range. And i think that condo was in 2003 not 16 years? Btw if you calculate based on lease. For ECs even when u move in its considered as 3-4year old condo then?

Usually, those near MRT usually has a better value.

Also, lets compare the same size of units for better comparison

The number speaks for itself.

Vales
26 Jun 16 73 Anchorvale Crescent #XX-XX New Sale 1,410sf Strata 728psf $1,025,845

Compass Heights
13 Apr 16 9 Sengkang Square #XX-XX Resale 1,324sf Strata 869psf $1,150,000

8 Apr 16 11 Sengkang Square #XX-XX Resale 1,324sf Strata 935psf $1,238,000

 

[ChangWD]

Personally i will only commit to TC if its $680psf or lesser. Otherwise no way. Their land price is about $80psf cheaper than wandervale so i dont wanna be carrot head

I totally agree! If price it higher than $700psf, I doubt the take up rate will be high...

 

[celeste_blur]

My bigger point is we should not compare with a 13 year or 16 year old condo.

If you wish to compare the prices of Treasure Crest, you could consider prices of surrounding ECs under construction.

For example,

What is the average psf of Vales EC?

What is the average psf of Bellewaters EC?

All these are ECs under developments and could be better benchmarks.

For me, most impt consideration is to get a unit that is for own stay but wouldn't really lose money if you were to sell it barring unforeseen circumstances like recession etc. And yes Bellewaters and Vales can still sell because there are always garang ppl whom believe ECs can earn $. If they think an EC in this location at $800psf years down the road can sell and still earn a lot of $ then they might be in for a shock.

Ppty prices now are not like in the past when u can sell and earn 100% returns. Hence it is very impt to be prudent and make a careful decision. 10 years ago when i got my bto i managed to sell and make 100% returns.

 

[ecobuyer]

According to URA May 2016 records,

Bellewaters EC sold 40 units at median psf of $796 (Range is $685 to $878)

Vales EC sold 38 units at median psf of $788 (Range is $722 to $882)

Both Bellewaters and Vales have done pretty well considering the median psf is $788 to $796.

 

[celeste_blur]

According to URA May 2016 records,

Bellewaters EC sold 40 units at median psf of $796 (Range is $685 to $878)

Vales EC sold 38 units at median psf of $788 (Range is $722 to $882)

Both Bellewaters and Vales have done pretty well considering the median psf is $788 to $796.

Just curious, since you dont qualify for EC how come you interested in EC thread? Or are you an agent marketing TC?

 

[ecobuyer]

I enjoy tracking property prices and visiting showflats.

 

[Arrowfish]

For me, most impt consideration is to get a unit that is for own stay but wouldn't really lose money if you were to sell it barring unforeseen circumstances like recession etc. And yes Bellewaters and Vales can still sell because there are always garang ppl whom believe ECs can earn $. If they think an EC in this location at $800psf years down the road can sell and still earn a lot of $ then they might be in for a shock.

Ppty prices now are not like in the past when u can sell and earn 100% returns. Hence it is very impt to be prudent and make a careful decision. 10 years ago when i got my bto i managed to sell and make 100% returns.

10 years ago , pple says the same thing like you... Yet, the price is still much higher than 10 years ago.

It is difficult to predict the future.

$680psf is way too low in today's market.

Dun expect a big profit from the EC after MOP, but least you won't lose much as well.

 

[celeste_blur]

10 years ago , pple says the same thing like you... Yet, the price is still much higher than 10 years ago.

It is difficult to predict the future.

$680psf is way too low in today's market.

Dun expect a big profit from the EC after MOP, but least you won't lose much as well.

A simple question to ask ourselves is will Singapore's GDp growth ever be like those sterling years? If yes then yah ppty price will still shoot up a lot. If GDP remains stagnant or register low growth do you think our ppty prices will move much? If you look at the residential index the correction in pricing is prob 10% or less. And if they expect ppty prices to be better why would sim lian be able to get this piece of land at $80psf cheaper. Another piece of EC land near hougang went for about $330-$340psf if i'm not wrong. All these low EC land pricing should indicate something?

Anyway i am just here to share my opinions. I am not a risk taker hence i will only go in if i am confident.

 

[Emo_Rhino]

10 years ago , pple says the same thing like you... Yet, the price is still much higher than 10 years ago.

It is difficult to predict the future.

$680psf is way too low in today's market.

Dun expect a big profit from the EC after MOP, but least you won't lose much as well.

for around 700k to 800k for an EC in Seng Kang, you can buy a 4 room or 5 room HDB (below 10 years old) at a good central or city fringe location.

unless you 1) really like condo facilities and 2) really like Seng Kang for some reason, maybe near parents, else if I tell u price is going to be unchanged for next 5 years for both the central area resale and SK EC, what will you choose?

Imagine you travel so much to and fro everyday from Seng Kang to your central area workplace only discover you cannot sell higher after 5 yrs... sb sian one.

I must admit what draw me to EC, was the so called discount but now seeing recent posts, I am not so sure about that discount anymore...

 

[Arrowfish]

for around 700k to 800k for an EC in Seng Kang, you can buy a 4 room or 5 room HDB (below 10 years old) at a good central or city fringe location.

unless you 1) really like condo facilities and 2) really like Seng Kang for some reason, maybe near parents, else if I tell u price is going to be unchanged for next 5 years for both the central area resale and SK EC, what will you choose?

Imagine you travel so much to and fro everyday from Seng Kang to your central area workplace only discover you cannot sell higher after 5 yrs... sb sian one.

I must admit what draw me to EC, was the so called discount but now seeing recent posts, I am not so sure about that discount anymore...

IF you could predict the future, it will be good.

Generally, Singapore food, transport, car, etc are going up. so does housing.

If you can get a BTO, get a BTO, if you can get a EC, get a EC.

Generally, if you get resale HDB, do not expect to profit from it, if you have to consider the renovations work to go along with it.

If you choose an EC for the sole purpose of profiteering, then you should consider going for BTO.

There are three ECs TC, Vales, Bellewater. It will be interesting to know if they can sell since they will probably cross the MOP one after another.

 

[jouhyo]

A simple question to ask ourselves is will Singapore's GDp growth ever be like those sterling years? If yes then yah ppty price will still shoot up a lot. If GDP remains stagnant or register low growth do you think our ppty prices will move much? If you look at the residential index the correction in pricing is prob 10% or less. And if they expect ppty prices to be better why would sim lian be able to get this piece of land at $80psf cheaper. Another piece of EC land near hougang went for about $330-$340psf if i'm not wrong. All these low EC land pricing should indicate something?

Anyway i am just here to share my opinions. I am not a risk taker hence i will only go in if i am confident.

Asking what is the GDP 10 years later is no simple question.

I think debating what happen in 10 years is pointless. There are uncertainties 10 years ago, there are uncertainities now and uncertainities 10 years later. So much will change, for better or worse.

Most of us buying a house is to stay. While we hope there is asset appreciation, EC is not private and there is MOP. If u want to invest, get private. For a house, Even it drop below 700psf, u still have a roof and house to stay. In normal circumstances, no one will sell a house below what he bought for, so I will think there is more upward pressure then no.

Currently, private housing around the area is selling for 100psf or more, there is no reason why EC will not do as well or better than them after MOP when the building is newer and leasehold is longer.

 

[derong07]

I am the agent here...hehe. Hope the takeup rate will be low....so that all my buyers can select their desired units.

 

[PostCountWarrior[+1]]

recent posts for TC:

1) property depend on cycle and gdp argument -> That is fine, but I cannot say strongly that the EC is discounted.
2) EC is discounted because it has longer tenor than the EC with full condo status -> Maybe, but I think in the past during property heights, the term discount I think was really meant to say that the launch was lower prices than the resales happening nearby with higher prices and big COVs. Now that argument is gone and replaced by tenors implies that the market is not as healthy as before to me.
3) Buy is to stay not make money -> Well, it is one thing to say that when you buy a Seng Kang BTO at 300k compared to buying an EC at 800k with higher monthly charges. I dunno abt u guys but $800k is alot of money to me, and I hope I can at least make some money out of it when I sell it next time.

I cannot say I have no interest in this EC else I wont talk so much, but I will not be balloting. I will see how the prices turn out first. But thanks to the person who raised rivervale to me, else I really stupid to listen to the agent who show me la fiesta price.

 

[propertysoul]

A new EC launch may be over-subscribed with many e-applications, but the actual take-up rate may be very low.

According to Knight Frank, even though the monthly household income threshold of ECs has been raised from S$12,000 to S$14,000, 40 to 50 percent of ECs launched in the past two years remain unsold.

URA data shows that the vacancy rate of completed EC units now stands at 14.3 percent. The URA 1st Quarter 2016 data mentions about supply of 12,587 EC units in the pipeline, out of it 6,520 units launched but remained unsold.

There is an obvious oversupply of ECs these days. So take your time to shop.

 

[mortal_azazel]

I concur n will not go for TC eapps too