EC concentration in Punggol, Sengkang may hurt future resale market

(20-11-2013, 01:32 PM)valueinvestor Wrote:

(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.

Government tightening foreigners inflows post-Aljunied. Will be slower.
Besides, foreigners cannot buy EC or HDB.

tightening? where you get the infor from? ^^

Singapore Citizenship granted in 2012 increased by about 31 per cent from 15,777 in 2011 to 20,693. This is the highest increase in the last 6 years, which is the number of years shown in the chart.
•Permanent Residence granted also increased by about 9 per cent, from 27,521 to 29,891 in 2011 to 2012.
•There were also 38,641 resident live-births.
•Using data from the Department of Statistics, the foreigners’ population increased by 60,200 from 2012 to 2013.

http://leongszehian.com/?p=6397

(20-11-2013, 02:41 PM)Behappyalways Wrote: tightening? where you get the infor from? ^^

Singapore Citizenship granted in 2012 increased by about 31 per cent from 15,777 in 2011 to 20,693. This is the highest increase in the last 6 years, which is the number of years shown in the chart.
•Permanent Residence granted also increased by about 9 per cent, from 27,521 to 29,891 in 2011 to 2012.
•There were also 38,641 resident live-births.
•Using data from the Department of Statistics, the foreigners’ population increased by 60,200 from 2012 to 2013.

http://leongszehian.com/?p=6397

The data tells past policies, pre-Aljunied.

My observations is that the new policy direction is for tightening. e.g. EP tightening. More differentiation between Sg Citizens and SPR.

Future data will show tightening as policies get implemented.

From wat i heard from friends, seem like many Msian and other nationalities got PRs/work permit. If this is true, u can bet that house price would only dip slightly. And continue to go up. Our current infrastructure is built for 6mil people, if they dont import FTs, they w be under-utilised. I dont really take the news on our official papers too seriously.

(20-11-2013, 05:15 PM)opmi Wrote:

(20-11-2013, 02:41 PM)Behappyalways Wrote: tightening? where you get the infor from? ^^

Singapore Citizenship granted in 2012 increased by about 31 per cent from 15,777 in 2011 to 20,693. This is the highest increase in the last 6 years, which is the number of years shown in the chart.
•Permanent Residence granted also increased by about 9 per cent, from 27,521 to 29,891 in 2011 to 2012.
•There were also 38,641 resident live-births.
•Using data from the Department of Statistics, the foreigners’ population increased by 60,200 from 2012 to 2013.

http://leongszehian.com/?p=6397

The data tells past policies, pre-Aljunied.

My observations is that the new policy direction is for tightening. e.g. EP tightening. More differentiation between Sg Citizens and SPR.

Future data will show tightening as policies get implemented.

Trust actual scenario .

Here's my POV as a Sengkang resident for the last 8 years:

Sengkang and Punggol is currently crowded already. And it will definitely be overpopulated in the next few years. At current statistics, it is the fastest growing town in Singapore and is set to grow event faster in the coming years.

Pros:
- It is a very young town, hence the population demographics makes it very desirable as a residential area
- It is very easily accessible to the city (15min via KPE, 20min vis NEL) and has a very good LRT network, so commuting is very timely and convenient almost regardless of which block you stay
- It has alot of good amenities for such a small area (swimming complex, hockey stadium, upcoming hospital, waterfront living, quite a few malls already)
- It has many good schools in the vicinity

Cons:
- Many projects, HDB, EC or private are yet to be completed/TOP and already there is ALOT of people living in this town
- Still more vacant land allotted for residential sites yet to be tendered
- Housing is extremely close to one another (haven't you heard that everyone who visits Sengkang for the first time gets lost?). One unit could be within a 2km proximity to at least 5 schools and STILL there is no guarantee your child could get into any of these schools (this was highlighted in the last few years on KiasuParents)
- High concentration of ECs = lower pricing of condos after all ECs are privatised in 5-10 years

Hence from a property pricing perspective, Sengkang and Punggol pricing IMHO has very limited upside. It also has a fairly limited downside in that it will be a model for good residential living in time to come (close to city, good commuting network, good amenities). The end result is a very tight-ranged pricing within the next 3-4yrs when prices come down from its current highs.

Just my opinion.

I just felt that SengKang is a very "clamped" town. The visible LRT track makes the place look "over-crowded" and lack open spaces. They shld really put more gardens in SengKang town to make it more livable. With such high density and high supply of hdbs/EC, the price rise shld be limited.

Talking about the accessibility to the city (15min via KPE, 20min vis NEL), nowadays the roads/highways always have heavy traffic (unless off peak hours like after 9pm to morning 6am), a simple travel to downtown could easily takes up half an hour or even more if there is a accident/car break down.

The running and bicycle track along riverside that goes round both punggol and sengkang is probably the most awesome feature in Sengkang/Punggol Area, especially near the Lor Halus Wetland. Probably, the only park that does not have the feeling of Singapore urban life.

But, anywhere in Singapore is crowded during weekends.(Tampines Mall? Jurong Point? IMM? Causeway point? Junction 8?NEX?Vivo?)
And relatively deserted during the weekdays.

(21-11-2013, 09:44 AM)countonme Wrote: I just felt that SengKang is a very "clamped" town. The visible LRT track makes the place look "over-crowded" and lack open spaces. They shld really put more gardens in SengKang town to make it more livable. With such high density and high supply of hdbs/EC, the price rise shld be limited.

Talking about the accessibility to the city (15min via KPE, 20min vis NEL), nowadays the roads/highways always have heavy traffic (unless off peak hours like after 9pm to morning 6pm), a simple travel to downtown could easily takes up half an hour or even more if there is a accident/car break down.

No town is worse than Bt Panjang now.

It is served by half-past-six LRT system (super-packed), served by 2 major road (heavily congested) effectively only 2 exit points (jam is a norm), and lots of new flats, condos and an EC coming up.

It is important to note that I do like staying in Sengkang. What I was trying to state is the fact that the property prices here are just not going to go up anymore that's all.

It is IMHO a very good town to bring up a family in at this point in time. And from the demand of housing here, it seems like there are alot who agree.

Doubt it will stay this way for very long though...