Top 5 reasons why the Piermont Grand Executive Condo (EC) at Sumang Walk in Punggol, will be a sell-out in 2019

Source: Straitstimes

1. Limited Supply and High Demand

As can be seen, the statistics that the top bid for the Sumang Walk site was higher than that of the top bid of the Anchorvale Lane Site by 64%, it goes to show just how starved the developers are for EC sites. Over the period starting from 2012 and ending in 2018, the total number of EC units supplied per year has been on a significantly decreasing trend, from 4,936 units in 2012 to 628 units in 2018. In addition, there was no EC plot offer for an entire one and a half year, which caused the supply to drop even further.

2. Opening of Punggol Digital District

Due to the opening of the new district in the relatively young Punggol estate, named the Punggol Digital District. From a swampland, it is developing into a waterfront town at a rapid rate. In a few more years’ time, it would be even more mesmerising and will be even more desirable to live in. this will drive the demand higher and higher for apartment units in Punggol, public or private properties alike, especially more so if the development is facing a waterway, with Piermont Grand EC as a perfect example.

3. Potential for Strong Capital Gain

In the past, many Singaporeans said that there are too many residential units in Punggol, referring to both HDB flats and private properties. If they were looking to sell their home, it would be a difficult thing to do since there will be many competitors which will cause them to profit lesser from the sales proceed. However, in reality, Punggol properties has seen substantial capital gains on the most recent 20 resales of flats, with an average annual capital gain of around 4% to 5%. This would mean that Piermont Grand would enjoy the same or even better capital gains since Punggol will be almost fully developed by the time the EC is eligible for sale.

4. Comfortable Upgrade In Financing with additional $30,000 Grant

The purchaser will have less stress in their financing commitment as compare to a private condominium due to the MSR financing scheme. The Piermont Grand EC is made affordable for middle-class income purchaser and a given privilege for Singapore Citizen to be able to own and grow their asset through their first property. The Piermont Grand EC is made affordable has it is a subsidised development to be purchaser for Singaporean. On top of the affordability, Singapore Citizen will be also eligible to have their $30,000 CPF grant for first-time purchaser. This is a indeed a stepping stone for young couple to progress to grow their wealth to kickstart in owning a Executive Condominium.

5. Expanding Private Property Portfolio

Piermont Grand EC at Punggol will be high in demand since after fulfilling the EC’s Minimum Occupation Period (MOP), one can potentially own his own private property. With proper planning, the capital gain from the EC can be used to progress to purchase the next private property with minimum or no cash output at all from the homeowner. This is a common way for aspire young couple to progress in grow their wealth through their first property in an Executive Condominium. The EC had been seen over the years to have a higher margin of growth due to the lower selling price privilege to Singapore Citizen.