Sumang Walk EC Highly Sought After

Sumang Walk has been a hotspot in Singapore where it located in Punggol. Punggol is a district located on the northeastern side of Singapore. This plot area of land measures 27,056.4 square meters and this land is under lease for 99 years. A lot of attention has shifted towards this Sumang Walk Executive Condominium land plot. Seven bidders have been attracted by this piece of land. This particular plot has been the talk in town since it is costing the highest price in the market. Home buyers are one of the bidders who is hoping to get buy this piece of land.

Sumang Walk EC Highly Sought After

Several bids were put in place in an attempt to buy this piece of land. The highest bid was $509.37 million which was from two companies namely TID Residential and CDL Constellation. It was estimated that the land was worth $583 per square meter. There is an upcoming f=development on this land which is estimated to be between $1,100 -$1,1500 per square foot.
There are three main factors that are making this site of land to be very desirable. The three factors include
• This is the only Executive Condominium site for the developers currently
• There is the development of Punggol digital district
• There will be a lot of confidence in Executive Condominium and some recovery in the residential market.

Sumang Walk EC The only Executive Condo

Sumang walk is the only Executive Condominium that will be launched in 2019, other Executive Condominiums will be launched in the coming year of 2020. This benefits it because it will be able to function this year with little competition. When other Executive Condominiums are launched the competition will be tight and the profits might lower due to this. This desirable feature makes this project to be predicted as a success. Due to the lack of Executive Condominium in this district, there has been a low sell of stocks and the launching of this project will increase the supply of products in the market. The new Sumang Walk EC will be called Piermont Grand as it is located near to Punggol Waterbay which represents a Pier.

Sumang Walk Located in Punggol Near to Singapore Institute of Technology

The government in Singapore is planning to expand the town center of Punggol. This town will be a digital district since a new Singapore Institute of Technology campus will be constructed here. There will also be new childcare, a refurbished community club and this town will also be a new center for hawking. This development might change this district and it will no longer look like a place where houses are cheap but they will get more expensive.

There has been a rise in the market of residential property. In 2016, the home prices had declined by 3.1 percentage but in 2017 there was a rise of 1{6306914bff4f07a4336f631570b6f59ced0ebc0281b24979fb5921577c5672d9} in home prices. Over the years, the home price has been in a rise especially the cost of private homes. Sumang walk Executive Condominium will be lucky since it will be the only housing type in 2019 and houses are expected to get more expensive.

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