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EC concentration in Punggol, Sengkang may hurt future resale market
SINGAPORE — While the concentration of executive condominiums (ECs) in the north-east region of Punggol and Sengkang has not hurt current demand, analysts warn that buyers may face challenges when they want to resell their units after meeting the minimum occupation period.
Eight EC projects currently under construction in the region are expected to be completed within the next five years. This means that close to 4,000 units that have been sold will be eligible for resale at around the same time, which may create a supply glut in the future, analysts said.
“The build-up (of supply) in Punggol and Sengkang is going to be an issue when the units go into the resale market,” said Mr Ku Swee Yong, Chief Executive of property agency Century 21 Singapore.
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http://www.todayonline.com/business/ec-c...ale-market
the HDB resale market in Punggol/Sengkang will be hit first when these ECs TOP.
When upgraders sell these flats and stay at their EC. (EC buyers cannot keep HDB flats)
And the flats sellers will be fighting with Gov's BTOs if the Govt continues to sell new flats.
Punggol will prob lose its charm soon, the place is becoming so crowded at times and they are still building so many hdbs and EC, condos there. It may be a good idea to put up a human ERP at the waterway park during peak hours.
what charm? it has been overcrowded and not assessible. the flat layout is elongated so less liveable area.
4 room in PSK is different from 4 rm in mature estates.
Those living that should sell and move to mature estates while the difference is still good.
(20-11-2013, 09:51 AM)opmi Wrote: [ -> ]the HDB resale market in Punggol/Sengkang will be hit first when these ECs TOP.
When upgraders sell these flats and stay at their EC. (EC buyers cannot keep HDB flats)
And the flats sellers will be fighting with Gov's BTOs if the Govt continues to sell new flats.
Those buying the EC are not necessary from Punggol or Sengkang. Flat sellers are always fighting with the BTOs. So the considerations for the buyers are whether they like the place/location, or whether they can wait for the BTO.
This article is biased against EC. There are also "concentration" of HDBs, Condos, Pte Houses in many areas. All of then are doing fine.
(20-11-2013, 10:08 AM)NTL Wrote: [ -> ] (20-11-2013, 09:51 AM)opmi Wrote: [ -> ]the HDB resale market in Punggol/Sengkang will be hit first when these ECs TOP.
When upgraders sell these flats and stay at their EC. (EC buyers cannot keep HDB flats)
And the flats sellers will be fighting with Gov's BTOs if the Govt continues to sell new flats.
Those buying the EC are not necessary from Punggol or Sengkang. Flat sellers are always fighting with the BTOs. So the considerations for the buyers are whether they like the place/location, or whether they can wait for the BTO.
Likely P/SK EC buyers are from P/SK. Because people dont move too far away. Unless big time upgrade to Orchard/Bt TImah.
The point is Gov can mainly sell BTOs in P/SK. Coz not much land in mature estates. P/SK flat sellers are competing with big supply from Govt.
If 6.9m is the target, no such problem at all. In fact they need to speed up more constructions of housing units because supplies still cannot meet the demand.
(20-11-2013, 10:35 AM)valueinvestor Wrote: [ -> ]If 6.9m is the target, no such problem at all. In fact they need to speed up more constructions of housing units because supplies still cannot meet the demand.
Seen it before in 1990s. When prices falls, demand will slow. The same supply will become oversupply.
(20-11-2013, 11:16 AM)opmi Wrote: [ -> ] (20-11-2013, 10:35 AM)valueinvestor Wrote: [ -> ]If 6.9m is the target, no such problem at all. In fact they need to speed up more constructions of housing units because supplies still cannot meet the demand.
Seen it before in 1990s. When prices falls, demand will slow. The same supply will become oversupply.
Those were the days when the floodgate was not open for all kind of foreigners . Gov even consider 10M for the longer term. Before 90s ,populations was around 3.5M.