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Current EC launches for 3 bedrooms are above $900k range now, and if you look at the newspaper today, Tampines EC site tender has close and with the top bid received, it is expected to launch above $1,250psf. Existing median price for EC launches in Q2 2021 is at $1,154psf. If we work out the sums for an average 3 bedrooms of 900sqf, we are looking at quantum price range of close to $1.04m now, and the new Tampines EC to be launched above $1.125m if construction costs remain as per projected. Note that with escalating construction costs now, it has high probability that we will be looking at even higher launch price.

It is probably unripe to start working out the numbers now as by then, regulations could have been changed. In addition, with your plans to repay the monthly instalment through CPF for your BTO, it will be important for you to set aside cash for other investments to offset the potential loss from the interest you may have gained by leaving your funds in CPF should you be using cash for instalment instead.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

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Geryl Lim
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Hi,

Overall, I must agree with Geryl's view on the possible price.

1) The latest EC land bid price in Tampines is $658 psf, the launching price is expecting to be over $1,248 psf.
2) A 3 bedroom unit in EC current is around 926 sqf. Using the current price to do simple maths, we can see it is already $1,155,648.
3) The future EC price most likely will be higher. Looking at the current trend of around 3% increase per year in the index.
4) 5 years is 15% above current launch price would be 1,248 psf * 1.15 = $1,435.2 psf. A 3 bedroom unit (926 psf) will be launching at $1,328,995.
5) Thus you might need to settle for less; a 2 bedroom unit of around 700sqf is expecting to launch around $1M by then.
6) And do not forget about the 5% cash ($50k) + 20% cash and/or CPF ($200k) downpayment when taking a bank loan. You have to save up this amount for a $1M purchase.
I'm assuming there is no further MSR/TDSR adjustment for a current max loan of 75% from the bank.
7) Adjustment of MSR/TDSR might happen because, in China, Hong Kong & Taiwan area already implemented max loan of 70% to discourage from too much borrowing from the bank to finance their property.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi,

In my opinion, 6-9 years is a very long time and with the property cycle now shorter, we will probably go through 2-3 cycles in 6-9 years time. It is highly unlikely that you will be able to get a 3BR EC at $900k range in the future.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More