Gets a unit at Piermont Grand EC a good idea still?
Then, as now, ECs undoubtedly are a thrilling concept – Piermont Grand EC – buyers shall get CPF grants still, so it’s often viewed as “subsidised private housing”. Through the upswing in the house market (which would peak in 2013), it proved clear buyers would pay crazy sums, and developers were pleased to accommodate that.
With Singapore’s property market recovering, and the income ceiling on ECs raised to $14,000, we’d go to a repeat event.
A matter of your energy before older condos (whether they’re ECs or not) also see some price hikes
If ECs ‘re going to start attaining the million dollar mark, a huge segment of buyers shall decide, what on earth, they could as well buy full-fledged condos that exist for your price. As such, some suburban condos in the $1 million to $1.2 million range may be seen as viable alternatives (see point 1: the price is about the same, and these condos are already private).
This won’t last forever. Over time, the prices of those full-fledged condos are going to creep up. A lot of it will also be due to sellers’ mindsets (i.e. how can my private condo only be worth as much, or less, than your EC?)
Piermont Grand EC may very well be a great investment still
We shall need to start reassessing the basic idea that Sumang Walk EC is a great investment
If you’re buying an EC for a genuine home, don’t worry concerning this bit. But if you’re thinking about your EC as an investment, it could be time to question the underlying assumptions.
Yes, an EC theoretically is a outstanding deal, as it’s private property that is included with CPF grants. But given how inflated the costs have become, are you room for appreciation there’s certain still? There’s more risk involved, given the larger cash outlay* and steep prices increasingly. In case you have a million or more to invest even even, a full-fledged condo is a greater investment. However, the advantage of executive condo is that the buyers can utilise CPF housing grant!