RiverParc Residence (EC)

[kingkong1984]

haha recently saw more online ads for their matilda house plot in punggol.. i still think they won't launch so soon.. i guess most likely wait till capland launches the commercial/residential plot in punggol at high prices, then sim lian go in gatecrash sell at 50psf cheaper but still earn a lot..

They will be priced to clear. Ghost house there. Hahaha...

[linchong84]

It will be part of the review.

Maybe more EC sites with higher income ceiling of 12k to 15k

Maybe same supply of EC sites with higher income ceiling of 12k to 15k

Maybe less supply of EC sites with higher income ceiling of 12k to 15k

Maybe change the whole concept of EC and come up with integrated development. Partner with Singapore Sports Council and build BTOs around them and call them Active lifestyle estates. Got public pool, stadium, tennis, badminton plus gym and community club and even food court. Hahaha

Whatever it is, the intension is clear... Hold or lower current prices lah.

Actually there's 2 ways to look at how EC ceiling will affect OCR pte prices..

1. EC as a price support, so if ceiling raised, EC prices will rise.. If EC prices rise, OCR pte will rise in tandem too.. 150-200psf gap still maintain.. good new for OCR..

2. EC as an alternative, so if ceiling raised, hdb upgraders who now qualify will choose EC over pte.. the psf gap narrows.. bad news for OCR..

Which is more likely?

[kingkong1984]

Yes, many ways

1. As a substitute to pte

2. As a floor to pte

3. As a substitute to BTOs

4. As a floor to BTOs

Whatever it is, It's in relation to everything else in the market, including external shocks.

If income ceiling for EC up, then more will switch from buying private to EC, those who had been disqualified earlier now qualifies. U get some of them buying EC instead of private. Developer hold size and price will have better chances of selling fast.

If both raised, the effects may cancel each other. Remember, EC pricing mechanism is up to pte developer. My guess is that future ECs, developer land bid may be modified to developer land bid plus confirmed max average psf range in price and size or something like that.

[linchong84]

Yes, many ways

1. As a substitute to pte

2. As a floor to pte

3. As a substitute to BTOs

4. As a floor to BTOs

Whatever it is, It's in relation to everything else in the market, including external shocks.

If income ceiling for EC up, then more will switch from buying private to EC, those who had been disqualified earlier now qualifies. U get some of them buying EC instead of private. Developer hold size and price will have better chances of selling fast.

If both raised, the effects may cancel each other. Remember, EC pricing mechanism is up to pte developer. My guess is that future ECs, developer land bid may be modified to developer land bid plus confirmed max average psf range in price and size or something like that.

the one in bold is chim.. i read 3 times still cant catch a fly.. wat u mean?

[kingkong1984]

Oh, I mean terms and conditions of land sales program may be modified.

Currently, no control on developers selling price for DBSS. Same with EC.

So in future..

Some control measures may be implemented.

Apart from the land bid prices, developer may have to indicate selling prices of their units at the maximum range.

It's like the current 2 envelop tender process, one for concept and the other for price. So one for targeted future selling price, then one for land bid.

My earlier point is developer may have to indicate number of units for <750 sqf size, <1000 sqf size, <1250 sqf size and more than 1500 sqf size and the targeted selling price range for them, such as 500 psf to 600 psf for more than 1500 sqf size, 601 to 700 psf for 1250 to 1500 sqf size, 700 to 800 psf size for <1250 sqf size etc, just an idea.

[linchong84]

Oh, I mean terms and conditions of land sales program may be modified.

Currently, no control on developers selling price for DBSS. Same with EC.

So in future..

Some control measures may be implemented.

Apart from the land bid prices, developer may have to indicate selling prices of their units at the maximum range.

It's like the current 2 envelop tender process, one for concept and the other for price. So one for targeted future selling price, then one for land bid.

My earlier point is developer may have to indicate number of units for <750 sqf size, <1000 sqf size, <1250 sqf size and more than 1500 sqf size and the targeted selling price range for them, such as 500 psf to 600 psf for more than 1500 sqf size, 601 to 700 psf for 1250 to 1500 sqf size, 700 to 800 psf size for <1250 sqf size etc, just an idea.

Not many developers are interested in EC projects because of the lower profits, it's always the same old bidders out there like cdl, frasers, ntuc, hoi hup, sim lian, qingdao.. If place restrictions on their potential gains, then many might just pull out altogether or bid lower cos the risk might not be worth it anymore.. but this is definitely a good idea for HDB to control the pricing for dbss and ec.. If they can control BTO, DBSS, EC pricing and supply well, they will be able to indirectly control the resale HDB and mass OCR pte prices well too..

[devilplate]

Not many developers are interested in EC projects because of the lower profits, it's always the same old bidders out there like cdl, frasers, ntuc, hoi hup, sim lian, qingdao.. If place restrictions on their potential gains, then many might just pull out altogether or bid lower cos the risk might not be worth it anymore.. but this is definitely a good idea for HDB to control the pricing for dbss and ec.. If they can control BTO, DBSS, EC pricing and supply well, they will be able to indirectly control the resale HDB and mass OCR pte prices well too..

I suggested b4, hdb shd build ec themselves n scrap dbss....but ec must only have limited facilities....no pool....just security, fencing, bbq, carpark n allow privatise after 10yrs

Looks like ppl dun mind without facilities based on gd take up rate for dbss...

[linchong84]

I suggested b4, hdb shd build ec themselves n scrap dbss....but ec must only have limited facilities....no pool....just security, fencing, bbq, carpark n allow privatise after 10yrs

Looks like ppl dun mind without facilities based on gd take up rate for dbss...

haha now they cant do that lah.. singapore's public housing already super confusing.. now we have:

standard bto: empty unit constructed by pte, but designed and sold by hdb
premium bto: same as above, but flooring done up
sers bto: same as above but prices might be higher
special bto: pinnacle, duxton kind with nice facade, location
design and build: pte design and build, but hdb sell
dbss: pte design, build and sell
mansionette: something like ph
hudc: jumbo flats
ec: pte design, build and sell and with facilities like security, fencing, pool, clubhouse..

Now if want to add in one more type of ec with security, fencing but no pool, clubhouse, will confuse the hell out of everyone.. MBT brought all these shit in, it's time for KBW to remove some of them, and not add on..

[devilplate]

haha now they cant do that lah.. singapore's public housing already super confusing.. now we have:

standard bto: empty unit constructed by pte, but designed and sold by hdb
premium bto: same as above, but flooring done up
sers bto: same as above but prices might be higher
special bto: pinnacle, duxton kind with nice facade, location
design and build: pte design and build, but hdb sell
dbss: pte design, build and sell
mansionette: something like ph
hudc: jumbo flats
ec: pte design, build and sell and with facilities like security, fencing, pool, clubhouse..

Now if want to add in one more type of ec with security, fencing but no pool, clubhouse, will confuse the hell out of everyone.. MBT brought all these shit in, it's time for KBW to remove some of them, and not add on..

Whahaha...shd jus have bto, ec without facilities....full stop....

Can remove some n tweak ec....they better do it to cure public housing woes permanently

[Xan]

Oh, I mean terms and conditions of land sales program may be modified.

Currently, no control on developers selling price for DBSS. Same with EC.

So in future..

Some control measures may be implemented.

Apart from the land bid prices, developer may have to indicate selling prices of their units at the maximum range.

It's like the current 2 envelop tender process, one for concept and the other for price. So one for targeted future selling price, then one for land bid.

My earlier point is developer may have to indicate number of units for <750

sqf size, <1000 sqf size, <1250 sqf size and more than 1500 sqf size and the
targeted selling price range for them, such as 500 psf to 600 psf for more than
1500 sqf size, 601 to 700 psf for 1250 to 1500 sqf size, 700 to 800 psf size

for <1250 sqf size etc, just an idea.

Not sure this idea is feasible though can be quite interesting. This means that developer got to do a lot of homework and planning before bidding the land. Not sure at the bidding stage, they would have very concrete plans to take care of all such details such as setting the psf range for different category of units. How the developer plans and operates internally I really dunno.

Ec will continue to sell well only when:
1) distinct gap in psf compared to pte condo. About $200 to $300psf diff etc. But this can be subjective due to location.
2) if ceiling raise from 12k to 15k for ec. But then if ceiling is raised, ec developer by default will also raised their selling. Thus Cancel out. Unless there's intervention to control the selling price like what king kong said.

If ceiling still maintains at 10k, ec owners will need to know that their future potential buyers will also come with financial limitation and should not expect too much return in terms of profit. I keep imagining a scenario, if I bought at ph at riverparc for 1.3mil...after mop, who I gonna sell and how much I can sell. Need to wait for 10 years before I can hv bigger pool of buyers with greater financial capability to purchase my unit. But 10yr old ph will attract any buyers? Unless your ec got superb location. Else no need to waste time.

[Xan]

Went to riverparc showroom and the crowd is moderate. My cousin got a stack 18, 3 bedder compact at 669k (non LRT facing, but facing empty plot of field which might soon become residential dev in near future). The showflat has done up to display the 3 bedder dual key and 3 bedder + pes unit. Was quite interested in the 3 bedder dk unit selling from 778k but not qualified to buy.
Maybe i sua ku, i just get to know from the agent that if buy the dk unit, i can rent out one of it w/o the need to wait for 5 yrs mop.
Was toying with the idea, if buy 2 dk unit, can rent out both studios and the other 2 units for parent and self stay but location cmi. So can rent out or not is still an issue. Quite near to LRT, walkable in fact.

[linchong84]

Went to riverparc showroom and the crowd is moderate. My cousin got a stack 18, 3 bedder compact at 669k (non LRT facing, but facing empty plot of field which might soon become residential dev in near future). The showflat has done up to display the 3 bedder dual key and 3 bedder + pes unit. Was quite interested in the 3 bedder dk unit selling from 778k but not qualified to buy.
Maybe i sua ku, i just get to know from the agent that if buy the dk unit, i can rent out one of it w/o the need to wait for 5 yrs mop.
Was toying with the idea, if buy 2 dk unit, can rent out both studios and the other 2 units for parent and self stay but location cmi. So can rent out or not is still an issue. Quite near to LRT, walkable in fact.

Non-MRT small studio in punggol is hard to rent out.. This project cannot touch.. You didn't warn your cousin about the LRT pillar? A pillar situated within a condo compound, next to the tennis court will be such a damn big joke..

[Xan]

Non-MRT small studio in punggol is hard to rent out.. This project cannot touch.. You didn't warn your cousin about the LRT pillar? A pillar situated within a condo compound, next to the tennis court will be such a damn big joke..

Yap, I agree, warn her before as you can see from my previous posts.
She got budget constrain but she needs the 3 bedder. Comparing other development e.g the arc 3 bedder compact, she says it is still cheaper and I agree. Anyway her unit is quite far away from the track.

[linchong84]

Yap, I agree, warn her before as you can see from my previous posts.
She got budget constrain but she needs the 3 bedder. Comparing other development e.g the arc 3 bedder compact, she says it is still cheaper and I agree. Anyway her unit is quite far away from the track.

I thought belysa was 560k? That one even cheaper.. Cheaper than HDB flat..

[kingkong1984]

This is crazy... DBSs more expansive than condo at tampines and ec cheaper than hdb at Pasir Ris.

One Pasir risk and the other dampines.... Wah lau egh

[Xan]

I thought belysa was 560k? That one even cheaper.. Cheaper than HDB flat..

Im not sure belysa was 560k for compact 3 bedder and not sure how small is it. But one of my subordinate bought belysa for 730k pool facing 3 bedder.

[solsys]

The land opp is slated for school. The land diagonally opp , for "high-rise private residential", whatever that means.
Whether LRT noise may be a problem? It is less noisy than MRT, but may get worse with the area built up eventually, due to the frequency and age of LRT.

LRT not noisy..... I have visited a HDB flat in Sengkang next to LRT track.... it's negligible.

[kingkong1984]

LRT not noisy..... I have visited a HDB flat in Sengkang next to LRT track.... it's negligible.

Tyres mah.... Better than roads actually.

[linchong84]

Read from somewhere that they more than 50% sold.. haha.. crazy world.. do those buyers know what they are buying??

[khaine]

Went down to take a look even when I didn't qualify.

The joke was the penthouse units...you are literally paying for the empty roof as part of your unit!

All the bedrooms are on the 1st floor and you have an empty, uncovered area on top as your 2nd floor..only good for those who like the roof top open air concept, but still need to spend some money to do it up nicely (plants, outdoor lighting, sheltered area, outdoor chairs and tables, etc)

[bargain hunter]

chinese news reported 65 more sold since the income ceiling was raised. now 93% sold.

[birdies]

It is 100% sold. Any idea if there will be any sub sale?

[price]

It is 100% sold. Any idea if there will be any sub sale?

This is an EC. You wont see any sales until probably 8 years from now. (3 years to build, 5 years MOP)

[Bteo]

It is 100% sold. Any idea if there will be any sub sale?

There are still 4 units left. One of the unit is a PH.

[ysyap]

There are still 4 units left. One of the unit is a PH.

Is it people gave up the units during window period?

[price]

There are still 4 units left. One of the unit is a PH.

Wow really? most websites state that its fully sold

[ysyap]

Wow really? most websites state that its fully sold

Sometimes agents might be misinformed too... only exclusive agents and developers will have latest news...