Piermont Grand EC compares with previous EC
As some Internet conversations are showing, the opportunity of a million dollar EC has caused some buyers to roll their eyes. Rivercove Residences (launching 1 April 2018) is often designated alternatively: Why choose the Sumang Walk EC for at the least $1,000 per square foot, the argument goes, when Rivercove Residences will probably attractively become more priced?
Piermont Grand EC site has be capable of get everyone’s attention recent weeks already. Having attracted an archive $509.37 million bid from developers, it’s likely that the eventual condo will be essentially the most expensive in your community. The estimated breakeven price, when the developers start selling, will probably be above $1,000 per square foot. This might make it the first million dollar EC site in the certain area. That’s affecting the real way buyers perceive several other properties.
Will Piermont Grand EC launch at high price?
Remember 2012? At the correct time, EC prices got so high that Minister of National Development then, Mr. Khaw Boon Wan, stepped into send a sharp message to developers directly.
Do you realise Piermont Grand EC is affordability
The known simple truth is, almost every other EC starts looking like value your money can buy almost, when you mention Piermont Grand EC. This is actually the full case for older actually especially, appreciated ECs – a number of these have appreciated to around $1,100 per square foot as of this right time, with the added advantage they are nearer to privatisation (ECs are fully privatised following 10th year).
We might back be turning the clock
At the correct time, an EC penthouse at Heron Bay sold for $1.77 million; and there is a presidential EC penthouse in Tampines that sold for $2.05 million (it turned out bought with a “typical middle income family”. Really, that’s what they told the newspaper).
Anyway, this caused Mr. Khaw Boon Wan to warn developers to your investment fundamental premise of the executive condominium” “not, while we were holding busy seeking to observe much buyers would pay just.