Govt has just launched an EC site opposite 8Courtyards, any impact on all the condos nearby?
Newbie
Govt has just launched an EC site opposite 8Courtyards, any impact on all the condos nearby?
Newbie
I think that site is better than 8C because:Originally Posted by yyly1327
(1) unlike 8C, it's not at the corner of 2 main roads
(2) Not beside MRT track, so no noise
Anyway, 8C's price is already quite low.. So, for that EC to cause negative impact to 8C, it must price at around 650psf..
The impact of ECs on private condos is that after their 5 year MOP ends, owners might sell it cheap cheap due to its initial cheap price. For eg, if it is really priced at 650psf, if you include the govt grant, it will become 620psf.. Lets say the owner is interested to make 100psf profit, maybe he will sell at 720-750psf, which is still less than 8C's launch price.. That's the problem when a pte condo is situated next to an EC.
The ECs launched long long ago do not pose similar threats because their facilities or finishing lousier. But now all the mass market pte condos and ECs' qualities are exactly the same. In fact some EC's finishing are even better, eg Austville has compressed marble living room. So, after their 5 year MOP ends, they will definitely prove to be a tough price competitor..
Exalted
Expect more sharkfin n frosties haha
Senior
More translucent windows with fins and limited opening?
Newbie
But the EC won't launch so soon.
So if record transaction 2013-2014 for 8hellyards, the EC owners will make them jump?
Just like 670 avg psf belysa and 926 psf avg livia recent buyers.
Newbie
The other one will be 879 avg psf waterview and 720 avg psf hoi hup. Not a good deal though
Go for Smallest Unit
Won't jump now lah, only when launched....
Wahahahaha rotten eggs truely.
Go for Smallest Unit
There's chance for the fins to go when the EC blocks it's view. Can swim without fins already but the mask must remain. Take a bet and go gamble, buy cheap and strike it rich when right.
Newbie
Haha don't sabo people lah.. Know got mine still go step for what..There's chance for the fins to go when the EC blocks it's view. Can swim without fins already but the mask must remain. Take a bet and go gamble, buy cheap and strike it rich when right.
Junior
If the land cost of this EC is just 200psf, no more sharkfins liao. location ~ location~ location ~ over supply ~ over supply ~ over supply?
Go for Smallest Unit
Ok, lucky u remind me. I better run
Go for Smallest Unit
It's timing timing timing.
Plus luck luck luck
Junior
i suspect the timing to buy this may not be right... not sure luck play a part... I think guts more like it.
so its timing timing timing & guts guts guts.
Go for Smallest Unit
Hero die first.
Gut is stupid when u r fooled.
Junior
You guys so bearish. Hehe. I like the fact that it is EC, much better than having a private condo site. Cannot compare and compete directly with 8 courtyards. In fact, looking at eight courtyards success, by next year when this EC site launches, gap in prices might be close in to what eight courtyards is calling now.
Newbie
You sala liao.. If it is pte plot then got chances of it launching at higher prices which can pull 8C up.. But EC will definitely launch lower one ma.. For an yishun not near MRT EC to launch at 8xxpsf, i think very hard (not impossible).. Don't forget there is income ceiling, if they launch so high, people no money to buy.. Canopy launches at around 6xx also..
Anyway we are not comparing PC and EC at their launch time because one is stuck with 4 year SSD while one is stuck 8 years (3 year build, 5 year MOP).. So PC still has more flexibility before the EC's MOP ends.. The comparison will start when the EC's MOP finishes because by then, they are as good as twins.. It is this fear that might limit 8C's upward potential as buyers might be worried.. But there will still be some who go in blindly, eg one new livia buyer who bought >1k psf.. haha.. He bought it happily, seller sold it even happier..
Go for Smallest Unit
Good point. EC is expected cooling.
Junior
Yishun is beginning it's journey to be a hub and NSE is on it's way. Let's wait and see. I believe there will be re-rating in time to come.
Junior
My reasoning very simple, do you think this new EC site psf will be cheaper or more expensive than Canopy?
Junior
my guess is canopy should be cheaper but maybe not much dif. btw, just received sms this afternoon, 8cy having free dinner from 630 to 830 tomorrow.
Newbie
I know what you mean.. Generally, land sales psf always increases right? My 2 points also very simple:
(1) Canopy launches at 650psf but till now havent sell finish right? I suspect it is due to income ceiling problem, many >10k income cannot buy. But after 5 year MOP is over, people of any income are free to buy and they are not tied to any new MOP. And since canopy 650psf cant sell finish, then any developers who are going to bid for this new EC would not dare to bid too high cos they know 650psf sale price also cant find enough buyers..
(2) KBW's blog post has attracted vast publicity.. I was in my mother in law's house just now when news@ 10pm was broadcasted.. They reported on his blog post and say KBW is warning people against buying properties due to oversupply.. National TV leh.. Maybe people will start to be hum liao.. Developer might also hum because they know buyers are now scared of going in.. So will developer still bid high high for an yishun not near mrt EC?
Anyway, there's still a saving grace.. If KBW increases EC's income ceiling to 12k, developers will bid higher! Launch price will definitely be higher than Canopy!
Junior
Canopy sales is going quite well. You should read up other forum that focuses on HDB and EC.
Newbie
What's your definition of well? To me, i define it as something like esparina, within 2 months chiong to 80-90%..
When was canopy launched? last year oct or nov right? Now 7-8 months later sales is around 70-75% right? A bit slow isn't it?
Disclaimer, my figures here are ahga ahga.. if wrong don't sue me haha..
Exalted
Wat toking u?
I meant fins n frosted windows la
Junior
Another forum posted Canopy 84% sold on 30th May 2011. Not fair to compare near MRT EC site, Esparina with a not near MRT EC site, Canopy.
Everyone knows that units fly off the shelves if site is near MRT.
Reason why I compare Canopy and the new EC site near eight courtyards is because they are both EC and not so near MRT. Why the new EC site will fare better because eight courtyards did well and because thus new site is much better than Canopy, in terms of amenties and accessibility. Therefore it deserves higher price tag versus Canopy.
If you think the difference in psf will be small, I guess that is relative but I believe will hit just below or above 700psf for new EC site launch in 2012.
Yishun is deprived of condos, be it EC or PC and many people don't realize it.
Eight Courtyards rotten eggs? Maybe not with the help of this new EC site, which can yield 700+ units and that means low maintenance fees too....
Go for Smallest Unit
Too many users, never mind what I say, i could be wrong.
The market prices will determine if it is rotten or golden. Wahahah.
If EC income ceiling is raised, developer could sell bigger units at higher quantum. Not necessary higher psf.
When income ceiling is raised, more can buy.
I think or hope that they come up with something better. If EC not fully sold to first and second timers within 6 months or a year... No income ceiling to be applied but with the same MOP applied. Canopy in resale market will be the best in the market if there are no better condos in Yishun launched.
My guess, another Condo plot or two in next year land sale. Good luck.
Last edited by kingkong1984; 10-06-11 at 03:43.
Emeritus Senior
What's the going price of seletaris now? It's almost next to this EC plot. It will be a good indication. This EC may not be near MRT but will be affected by NSE, and not forgetting Seletaris is too (albeit much worse - 15m away from expressway nia)
If Seletaris selling 600+psf for FH, then this EC can eat shit liao
Newbie
Any chance of the new NS 12 station to open in near term or the Thomson line coming near to this area. No new developments in Yishun for the past 10 years until Estuary was launched. Now, with thousands of new BTOs and Condos start sprouting in Yishun, does anyone has any info on the redevelopment of Yishun town?
Junior
Seletaris going at 6xxpsf to 720psf. The new EC site not really super near to NSE. There is some buffer with sungei simpang. Having said that, it will be interesting to see how the site plan will be like since the plot is not squarish. and what kind of units developer will put in, e.g. All 3 bedders like belysa or different.
Anyway, we will know in Aug 2011 on bid price. Hmmm, Canberra drive will be busy during peak hours with cars going in and out of the 4 condo plots.
Go for Smallest Unit
EC will be compact 3 bedders and above if similar to Belysa.
Seletaris going at 6xxpsf to 720psf. The new EC site not really super near to NSE. There is some buffer with sungei simpang. Having said that, it will be interesting to see how the site plan will be like since the plot is not squarish. and what kind of units developer will put in, e.g. All 3 bedders like belysa or different.
Anyway, we will know in Aug 2011 on bid price. Hmmm, Canberra drive will be busy during peak hours with cars going in and out of the 4 condo plots.
This is not the end, beware the land sales in first quarter 2012.
Posting Permissions
Reply With Quote