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PR Newswire
24-04-2019, 09:45 PM
The new Sumang Walk EC, to be called Piermont Grand CDL, will be launching for sale sometime in the middle of this year, 2019. It is being developed by a collaboration of City Developments and its sister company, TID Residential Pte Ltd.
It has been a long time since there was an EC launch in Punggol. The last one was Ecopolitan, several years back. For that matter, there have been few EC launches island-wide in recent times anyway. Just Rivercove in Sengkang last year 2018, and the Piermont Grand EC will be the only one this year.
So why are ECs so much in demand?
That's because historically, of all residential property types, executive condos have achieved the most capital appreciation. Not only do they move in line with the general market, but they also enjoy a greater gain as they bridge the gap with prices of private condos from the 5th year onwards after the MOP (Minimum Occupation Period).
So will that happen for the Piermont Grand CDL? To a certain extent, perhaps. Given that it is expected to launch at around $1,150 PSF, how much upside potential can we expect then? Especially since surrounding private condominiums like Treasure Trove and Parc Centros, both within closer walking distance from the MRT station, are not selling much above $1,300 PSF. So we will have to wait and see.
It has been a long time since there was an EC launch in Punggol. The last one was Ecopolitan, several years back. For that matter, there have been few EC launches island-wide in recent times anyway. Just Rivercove in Sengkang last year 2018, and the Piermont Grand EC will be the only one this year.
So why are ECs so much in demand?
That's because historically, of all residential property types, executive condos have achieved the most capital appreciation. Not only do they move in line with the general market, but they also enjoy a greater gain as they bridge the gap with prices of private condos from the 5th year onwards after the MOP (Minimum Occupation Period).
So will that happen for the Piermont Grand CDL? To a certain extent, perhaps. Given that it is expected to launch at around $1,150 PSF, how much upside potential can we expect then? Especially since surrounding private condominiums like Treasure Trove and Parc Centros, both within closer walking distance from the MRT station, are not selling much above $1,300 PSF. So we will have to wait and see.