so probably next trough will be 750psf for mass market new launches...Originally Posted by 990113d03
Exalted
so probably next trough will be 750psf for mass market new launches...
Senior
if i am not wrong ...for EC, after 5 yrs you can sell but only to sporeans and PR..Good point that EC is always launched during peak. I thought of that too, but i can't sell until around 9 years from now, i predict during this 9 years, the property will go down at some point, as long as i still can service the loan, i will still live in it. Hopefully after 9 years, the price will be above 750psf.
If the price will never go above 750psf, then many other condos will die together, 99LH condo going as high as 1000 psf in new mrt, subrban areas.
What will be the future prices can only be predictions, no one is sure, but at least for me, buying this is for long term (around 10 years) before i can do anything. Purely my views, hopefully 10 years later i will know this decision was good.
after 10yrs , then its free for all
Newbie
if one prefer to stay in NE, then its ok to get this EC for its proximity to MRT station. But the biggest gainers are the owners of the HDB BTO flats at Buangkok who bought their units for only ~200k. This EC only helps to push up the nearby HDB BTO flats prices.
Senior
windermere ..Just curious, which EC is that?
people used to shun it cos the railway track runs behind it..but quite far behind, ..
now no more rail train ...
Exalted
now 4rm HDB resale in sengkang/punggol above 400k oredi...so 200k become 400k...huat liao lor
Newbie
The flats already not cheap now, i posted the prices earlier, those are older flats. The newer ones still cannot sell yet, but the BTO are really cheap.
I always thought the property prices will cool down and i don't want to buy at peak, but it keeps going up.... haha. i think it will not crash that hard also...
Any complaints please PM me
http://www.todayonline.com/Business/...to-Esparina-EC
Buyers flock to Esparina EC
05:55 AM Oct 06, 2010
The first executive condominium (EC) launched in more than five years has received strong response from prospective buyers.
The Esparina, located in Sengkang, has attracted 1,155 applications or more than double the 573 units available, according to its developer Frasers Centrepoint.
According to property experts, there is pent-up demand for such housing and its affordability is an attraction for buyers, especially those among the sandwiched income class. The units in Esparina, are priced at $730 to $750 per square foot on average.
The proximity to Buangkok MRT Station is another contributing factor towards the popularity of The Esparina among buyers, housing agents said.
The project is the first EC to be launched since the La Casa in 2005 in Woodlands.
And there are at least three more developments set for launch this year, which observers believe will help cater to demand for such developments. Ryan Huang
Senior
i think next trough at 700psf.
Senior
am i right to say, the cheapest 2 bedder for a first timer will be 590k - 30k grant = 560k/829sq ft = 676psf? not too bad for a 2 bedder.
That is what my agent say... actual prices only know tomorrow.
But Fraser had a press release stating the price range.
2BR - 590000 to 723000 (829 sqft, so prices are from 712 psf onwards )
3BR - 697000 to 980000 (smallest 1001 sqft, so prices are from 696psf onwards)
I think should be around this range.
Junior
Probably bank will make cash call for those bought at around 1k psf?i think next trough at 700psf.
Junior
Can 1st timer borrow from hdb for ec? If bank possible firesales for 1st timer if stretched to buy big unit large quantum at current high prices ...
Newbie
i believe EC only can loan from bank...
Newbie
yes confirmed chop stamp. EC can only have bank loans. I owned a EC before...
the gd thing is that the current bank loan interest rates are in fact lower than HDB loan. It may be wise to tie to a fixed rate as long as possible.
Emeritus Senior
Anyone saw the news? It seemed with the demand for this EC prices are kept from sliding in the northeast area...
Junior
Any update on the ballot exercise? Have the Esparina sold out liao?
BE CENTRED BY ALL AT THE FRINGE OF THE CITY @
Junior
Today's ST reports, only sold 300+ units. In short, not sold out. It was reported that they stick strictly to the 5% for 2nd-timer rule. So when the 5% threshold was reached, all the second timers were asked to go home. So if you're a first time applicant, then there are still numerous units to choose from.
Junior
So the lucky 5% 2nd-timer actually got 1st bite at the cherry?
BE CENTRED BY ALL AT THE FRINGE OF THE CITY @
Junior
No lah. Ballot lah. But once 5% is reached, I guess no more 2nd timer goes into the ballot. Just my guess. U need to be there to know the exact process but from ST report, 2nd-timers were turned away.
So the lucky 5% 2nd-timer actually got 1st bite at the cherry?
Newbie
So if you are a first timer, you can get any of the balance unit? What happened if not sold out?
Newbie
First timers and second timers all in same ballot box.
So people get drawn out and queue to book their units, once 5% of the units booked, they announced and ask all second timers to go home. They can only come and select remaining units after 1 month.
The 1st month is reserved for first timers. So 1st timer now still can walk in to select the units available. 2 BR units are not hot, alot of 2BR units left from what i saw last night. still got some penthouse left, but not cheap.
Junior
344 units sold at $730-$750psf according to BT. Not bad.
Newbie
Any owner for Esparina here?
Newbie
Btw Esparina got penthouse selling from 864k meh? I nv see lehDon't know whether this media release can be trusted or not. haha
Attached the file.
Newbie
5% quota reached. Remaining 200+ units only for 1st timer until 7th Nov.
Any complaints please PM me
http://www.businesstimes.com.sg/sub/...07705,00.html?
Published October 9, 2010
344 units sold in Esparina Residences EC
By UMA SHANKARI
A TOTAL of 344 units were sold in Frasers Centrepoint's 573-unit Sengkang executive condominium (EC), Esparina Residences, as of 6pm yesterday.
The developer had received 1,155 applicants for the project since it was launched on Sept 30. Eligible applicants with a ballot number had priority to enter the showflat for the balloting and booking of units yesterday.
But only 344 units were sold. Because of the balloting process, some potential buyers could have decided not to purchase a unit at all if their preferred unit had been sold. In particular, three-bedroom units, penthouses and dual-key units (which are units that can be divided into two separate apartments with different entrances) proved to be popular, Frasers Centrepoint said.
Prices at Esparina Residences range from $590,000 to $723,000 for a two-bedder; $697,000 to $981,000 for a three-bedder; and $1 million to $1.18 million for a four-bedroom unit. Penthouses are priced at between $864,000 and $1.3 million. On a per square foot (psf) basis, unit prices range from $730 to $750 psf on average.
Esparina Residences is the first EC project to be offered to homebuyers since end-2004.
ECs are a hybrid of public and private housing. New EC units are sold with eligibility, ownership and resale restrictions similar to those for public housing, but these restrictions cease to apply after 10 years.
Another EC project, MCC Land's 406-unit The Canopy in Yishun, previews this weekend. MCC Land has priced the units at an average of $600 to $700 psf. Unit sizes at the 99-year leasehold project range from 872 sq ft to 1,410 sq ft in two, three and four-bedroom configurations. There will also be 22 penthouses of between 2,088 and 2,239 sq ft.
Any complaints please PM me
http://www.straitstimes.com/Money/St...ry_588474.html
Oct 9, 2010
Esparina Residences sells 344 units in 1 day
Big crowd at balloting for units at first EC to be launched in 5 years
By Esther Teo
BUYERS snapped up 344 units of Esparina Residences, the first executive condominium (EC) to be launched in five years, on the first day of sales yesterday.
Dual-key apartments, a studio attached to either a two- or three-bedder for extended families to live together, were the most popular with 61 of the 71 available sold, said developer Frasers Centrepoint Homes. Three-bedders were next with 212 of 283 sold, while 12 of the 20 penthouses went.
Experts say the huge response was expected as the project located near Buangkok MRT station had been more than 100 per cent oversubscribed with 1,155 applications for the 573 units.
Pent-up demand from first-timers who will be able to make use of the $30,000 CPF housing grant and more affordable prices compared with mass market condos also added to the interest.
Frasers said on Wednesday that almost 75 per cent of the applicants were young professionals aged between 25 and 40, with half of all applicants falling within the $8,000 to $10,000 income bracket - the so-called sandwich class.
Mr Jonathan Tee, 22, booked a 1,001 sq ft three-bedroom unit with his girlfriend for about $750 per sq feet (psf).
'We think that the price offered is quite attractive, it is a good location near the MRT plus Frasers is also one of the top developers,' he added.
Another buyer, Mr Chua and his fiance - whose ballot number was picked after three agonising hours of waiting - said their first choice had gone but they decided to go for another three-bedroom flat on a lower floor instead.
HSR chief executive Patrick Liew said that 'response has been tremendous' as the undersupply of ECs over the past five years meant that demand has stayed high. He expects the project to sell out 'in a short while'.
Mr Steven Tan, executive director of residential at the OrangeTee agency, said the project's high take-up rate on a single weekday was very encouraging.
'If they miss this, buyers might have to wait for a while to have another EC site so close to an MRT station... If they wait, they might also exceed their income ceiling so they might have chosen to buy now,' he added.
MCC Land's viewing of its EC The Canopy at Yishun Avenue 11 begins today. Bookings start next Saturday.
The 99-year leasehold, 406-unit project will offer two-, three- and four-bedroom units ranging from 872 sq ft to 1,410 sq ft, and 22 penthouses between 2,088 sq ft and 2,239 sq ft. Average prices will range from $600 psf to $700 psf.
OrangeTee's Mr Tan said The Canopy will be catering to a different catchment of buyers in the Yishun and Woodlands area compared with Esparina Residences but he expects response to be similarly strong.
Its lower psf price also meant that it could meet the needs of more price-sensitive buyers, he added.
Despite the high number of applicants, not all flats were sold as some potential buyers might have backed out after not being able to get their preferred units. With 95 per cent of the units reserved for first-timers, second-time applicants were turned away two hours into the ballot after the quota was reached.
[email protected]
Newbie
looks like many second timers got turned away. Guess they all should be waiting for the 'expiry period' to be up and still hoping that thier ideal unit is there.
Govt should reconsider the 95% first timers for EC, pple already wait so long for EC (5+ years), still must wait some more when launched.
Newbie
Totally agree that government should reconsider the 95% allotment for first timers. This would allow more opportunities for genuine upgraders to purchase the EC and cool off the private MM segment.
Maybe the unsold units in Esparina shows that many first timers are not biting the high psf just yet.
Newbie
only another 20 units sold over the weekend, looks like first-timers got no strength got to wait for the calvery (2nd timers) to come.
Newbie
I think most of the 3 and 4 rooms unit taken up except for those block with direct west sun. Quite alot of 2 bedders left which i don't think 2nd timer will go for. They will probably whack the few penthouses that are still unsold.
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