Very good analysis. Seems like those who bought Lentor Modern thought that more land would be developed and that the later developments will get higher and higher. But with developers buying the land at lower and lower prices, seems like gone case.
@@savvyericchiew seems like your review is really spot on. Really gone case already. But as you said, hope they make good money then everyone else who bought other properties will be rich.
@@savvyericchiew it depends on the time horizon. If based on your time horizon of 5 years and less, sure gone. But if after 20 years then sell, nearly everyone who bought today sure can make money.
How will these oversupply of new property affect the rest of the property prices in the area? Like castle green and seasons park? Will they increase in price?
When there are so many plots at the same place coming online so close to each other, with each subsequent plot selling lower price than previous, it is quite obvious what the conclusion will be. Likely what will happen is that buyers will wait for the last plot cos it’s sold for the lowest price. No sane buyer will rush to buy earlier plots now that they know what price the land sold for.
Thanks for sharing. I took a brochure from a property agent out of curiosity. Your video gives a good account of the land sales and oversupply in that area. Poor planning of GLS by the government.
my thought is guoco doesn't have a choice but to bid for the rest of the Lentor land parcel in order to protect their acquired plot. at least they can apply averaging or other strategies and have more control over the rest of the selling.
Eric, does the new gross floor area calculation apply to this new lentor land parcel? Does that mean the 985psf is not actually 18% lower if we consider the new rule?
Again, your predictive powers is sibei tokkong lor. I remember last year one of your lentor video, you said "let's wait and see, maybe the later parcel will be cheaper". Right? Something like you said "maybe the opportunity comes later" something like that?
Hi Eric, what an insight! Actually it is really scary for this oversupply at Lentor in a short period of time. But I would like to check with u, will AMO be affected? Since AMO launched same time as Lentor Modern.
Excellent analysis. It would be far more revealing if your think the dwindling bidders for the Lentor sites is due to the developers' anticipation of the uncertain macro economics towards end of 2023 and 2024. If this is indeed the case, then it "gives us hope" that the spore property mkt will soon turn to a buyers' mkt
Wonder is this is a sign of the greater property market with skyrocketing new launch prices…Dev start to lose confidence that the super high new launch prices are not sustainable?
In my opinion, short term oversupply is a good time to enter because prices will be temporarily low. Lentor has St Nicholas so there's an evergreen demand. But have to buy within 1km lor.
@@chinchowpowpook yes there are many people who rent because of school. St. Nicholas is not just a normal school, it has affiliation to secondary school and Eunoia JC. It's an IP and SAP school. Parents rent out their own property and then rent a house within 1km of the school they trying to ballot. If they get in, they'll continue renting for at least 3 years or look to buy another unit within 1km. They have to do this or they will lose their spot in the school. It's super common.
@@chinchowpowpook it's good to be skeptical. If you don't believe in the branded school demand then you don't buy there. We just look at facts. Half the primary schools in Singapore require balloting. So that means people are snatching up good schools instead of going to the nearest one. St. Nicholas has been oversubscribed in all phases 2A, 2B and 2C. In phase 2B and 2C, balloting for Singapore Citizens happening within 1km. Despite government doubling phase 2C vacancies, St. Nicks is still more than 50% oversubscribed. This means if you're a Singapore Citizen living within 1km of St. Nicks you have to ballot. If you're a PR or Citizen living outside 1km, you have zero chance of getting a spot. Don't forget it's a girls school in an area dominated by landed houses. So we already remove competition from boys, why are there still so many primary 1 girls living within 1km every single year? People are renting. I personally know many people who do it. Even the I Quadrant founders moved there to get their girl a place in St. Nicholas.
Investor buy Liao 3 years later sell to Another investor dreaming to make another 200k? Yishun/ Lentor rental very Chui..mostly blue collars. Buy Liao sell to who? Can open carrot cake stall nearby
Because some agents keep saying prices will ‘forever’ go up and stir la… so govt release more and more, let everyone who want a condo get lor. Since the market so hungry, but bubble will burst la, for those who think forever go up.
Don't worry la for LM buyers. SG property is 3 year no huat, 5 year sure huat, 10 year is huat till buay link chu😂. Just pray government abolish ABSD all will rush to buy more property 😂.
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Very good analysis. Seems like those who bought Lentor Modern thought that more land would be developed and that the later developments will get higher and higher. But with developers buying the land at lower and lower prices, seems like gone case.
Sad 😢 let’s hope they are fine 😉
@@savvyericchiew seems like your review is really spot on. Really gone case already. But as you said, hope they make good money then everyone else who bought other properties will be rich.
@@kendrickcan3919 I not always right but I hope everyone makes money 😊
@@savvyericchiew it depends on the time horizon. If based on your time horizon of 5 years and less, sure gone. But if after 20 years then sell, nearly everyone who bought today sure can make money.
@@kendrickcan3919 true! 👍
what are the implications of an oversupply of land within an area?
New launch price may becomes cheaper and resale price may dip 😢
Eric, I came across watching your video. Mainly very insightful and really grateful for your sharing.
Glad you like it! 🙏🏼
How will these oversupply of new property affect the rest of the property prices in the area? Like castle green and seasons park? Will they increase in price?
Old projects tend to grow but at a slower pace which is fair.
When there are so many plots at the same place coming online so close to each other, with each subsequent plot selling lower price than previous, it is quite obvious what the conclusion will be.
Likely what will happen is that buyers will wait for the last plot cos it’s sold for the lowest price. No sane buyer will rush to buy earlier plots now that they know what price the land sold for.
True to that!
Thanks for sharing. I took a brochure from a property agent out of curiosity. Your video gives a good account of the land sales and oversupply in that area. Poor planning of GLS by the government.
🙏🏼🙏🏼
I say is good planning for ura..they successfully seduced guocco in..
Grandmaster Eric! Funny and Insighful
😂😂
my thought is guoco doesn't have a choice but to bid for the rest of the Lentor land parcel in order to protect their acquired plot. at least they can apply averaging or other strategies and have more control over the rest of the selling.
Same thoughts too! Like monopoly 😆
Maybe we'll end up with a Guoco mini-city 😆
Eric, does the new gross floor area calculation apply to this new lentor land parcel? Does that mean the 985psf is not actually 18% lower if we consider the new rule?
The new rule has been implemented a few years already 😉
Great insights!!
🙏🏼🙏🏼
In the first place I don't understand why people will pay so much for Lentor modern.. the lentor area is kinda bird no lay egg/cheap landed location
Who knows maybe got Disneyland next time 😆
Again, your predictive powers is sibei tokkong lor. I remember last year one of your lentor video, you said "let's wait and see, maybe the later parcel will be cheaper". Right? Something like you said "maybe the opportunity comes later" something like that?
Wow you can remember ah. Power sia! 👏👏
@@savvyericchiew ya, i actually have a good memory. Money, not much, but memory cells, pretty good so far LOL! YOu did say it, right??
@@kelvynchin1968 I forget liao
When govt launching near bayshore?
My guess is once MRT is done next year so land price will be higher 😉
Hi Eric, what an insight! Actually it is really scary for this oversupply at Lentor in a short period of time. But I would like to check with u, will AMO be affected? Since AMO launched same time as Lentor Modern.
Amo is my number 1 in 2022. Confirm huat 🥳
@@savvyericchiew can I ask, even highest floor of AMO also can huat? 🙏🏻
@@poshcode11 should be fine if entry not too high 👍
@@savvyericchiew what $ is considered high? $2205psf is high?
@@poshcode11 its ok. You have bought it so just enjoy 😊
Excellent analysis. It would be far more revealing if your think the dwindling bidders for the Lentor sites is due to the developers' anticipation of the uncertain macro economics towards end of 2023 and 2024. If this is indeed the case, then it "gives us hope" that the spore property mkt will soon turn to a buyers' mkt
Anything is possible 👍
thoughts on macro & frens
What do you think?
@@savvyericchiewBarney & frens better
@@sek898 lol 😂
Basically, Lentor is gone case already.
Hopefully they are alright 🙏🏼
If buy using 100 sell 1 is more sleepless nightsss😂
It's seems really gone case. But don't forgot. Disneyland should be coming around that area. Isn't it?????
@@andrewie4 really have Disneyland?
@@jus3678 suppose to have yrs ago. On hold. But now they still studying n revisiting this idea. No promise. But govt is considering again.
Wonder is this is a sign of the greater property market with skyrocketing new launch prices…Dev start to lose confidence that the super high new launch prices are not sustainable?
Currently too much supply in the area 🥲
Anyway Lentor sound very Indus, only thing remembered is the speed cams or hidden tp along the road
Super far 🫣
is LM in Singapore? :)
Take plane faster 😆
Broooo you HAVE to cover Newport Residences!! It looks like the perfect condo in Singapore! Seaside unblocked view, freehold, district 2
Will it be my number 1? 🤫
@@savvyericchiew we know
Eric don't like FH😂
Ur no.1 is BBP
MINE IS DEFFINATLY:)
@@sun41566 let’s see whether is BBP 😉
In my opinion, short term oversupply is a good time to enter because prices will be temporarily low. Lentor has St Nicholas so there's an evergreen demand. But have to buy within 1km lor.
👍👍
I beg to differ, one school only n nothing esle, good invest Pty always depend on rental demand..those rent there because of school?
@@chinchowpowpook yes there are many people who rent because of school. St. Nicholas is not just a normal school, it has affiliation to secondary school and Eunoia JC. It's an IP and SAP school.
Parents rent out their own property and then rent a house within 1km of the school they trying to ballot. If they get in, they'll continue renting for at least 3 years or look to buy another unit within 1km. They have to do this or they will lose their spot in the school.
It's super common.
@@neorenjie waste no time u may go snatch one unit..u will Huat
@@chinchowpowpook it's good to be skeptical. If you don't believe in the branded school demand then you don't buy there.
We just look at facts. Half the primary schools in Singapore require balloting. So that means people are snatching up good schools instead of going to the nearest one.
St. Nicholas has been oversubscribed in all phases 2A, 2B and 2C. In phase 2B and 2C, balloting for Singapore Citizens happening within 1km.
Despite government doubling phase 2C vacancies, St. Nicks is still more than 50% oversubscribed. This means if you're a Singapore Citizen living within 1km of St. Nicks you have to ballot. If you're a PR or Citizen living outside 1km, you have zero chance of getting a spot.
Don't forget it's a girls school in an area dominated by landed houses. So we already remove competition from boys, why are there still so many primary 1 girls living within 1km every single year?
People are renting.
I personally know many people who do it. Even the I Quadrant founders moved there to get their girl a place in St. Nicholas.
Took the government a while to re-learn Economics 101; the best "property cooling measure" is to increase land supply 🤣
I thought so too 😆
Seems like Guoco land made it by hedging
They monopolising Lentor 🥲
Investor buy Liao 3 years later sell to Another investor dreaming to make another 200k? Yishun/ Lentor rental very Chui..mostly blue collars. Buy Liao sell to who? Can open carrot cake stall nearby
😂😂
Eh Eric! Blossoms by the park will huat kueh anot for 3bedder dual key? 😂
I saw that! So interesting 915sf can be DK 😮
The layout like cannot leh for the dual key.
@@1965Singaporean hard to stay but rent super good
@@savvyericchiew I also think so, surprised there was another blogger fighting the case of ownstay at Blossoms vs Tembusu G
@@FPVCycling can please show link. Thank you. Was thinking pay absd for the dual key and hold till enbloc.
eeeeeric Ah, can’t wait for ur number 1 new launch in 2023
Soon! 👍
eric! got BLOSSOM By The Park review?😂
Coming soon! I’m in Japan looking for the real blossoms 😆
the next Hillview?
Very very possible. Many condos and landed but no HDB upgraders 😢
Because some agents keep saying prices will ‘forever’ go up and stir la… so govt release more and more, let everyone who want a condo get lor. Since the market so hungry, but bubble will burst la, for those who think forever go up.
👍👍
True,,but many don’t enter anything and wait year on year also forever say is always high..
Waiting for Lentor garden at $1800!
Next year 😉
Eric you look like 黄文永
😂
Take some time to prepare for coming Election ?
Could be the reason 😆
First!
🙏🏼🙏🏼
Don't worry la for LM buyers. SG property is 3 year no huat, 5 year sure huat, 10 year is huat till buay link chu😂. Just pray government abolish ABSD all will rush to buy more property 😂.
Singapore properties will make money .. Lentor maybe take longer. Some take shorter time to be huat
Totally 💯
Agree!
Center of turtle shell will be a white site? 😂
Wahaha everything is possible 😆
I thought I heard u said coco land 🤣
Also can 😆
Eric ah, ok edited..
🤫🤫
@@savvyericchiew ok ok
@@HuahKueh 😆😆
Lentor Modern buyers now jin sad liao 😂
Let’s hope they are fine 😊
Eric already say dont buy lentor modern
Let’s hope they are fine 😉