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Top condos with en bloc potential
The sale of Eunosville to MCL Land for $765.78 million on June 1 brings the number of successful collective sales so far this year to four. The total collective sale value so far stands at $1.5 billion, compared with the total value of $1 billion for the three successful sales in 2016 and $380 million for the single sale of Thong Sia Building in 2015.
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So you want to go en bloc…
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Collective sales in Singapore: What does this mean for home prices?
The collective sales and en bloc fever in Singapore is far from over. Recent estates which have been released from sale include How Sun Park, near Bidadari, as well as Pearlbank Apartments in Outram. If successful, these will add to the approximately 2,700 homes which have been sold en bloc in 2017. This is a marked increase from the 600 homes which were sold via the same last year.
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Most affordable condos with en bloc potential in Central Singapore
The collective sale fever is back, and deals have been flowing thick and fast in the past two months. So far in 2017, there have been eight successful collective sales – including that of Citimac Industrial Building – at a total value of approximately $3.5 billion. This exceeds all three deals done in 2016 by far. In a previous article, we used our logit model to identify condos with the highest probability of being put up for collective sale. Based on the model, we found that the following variables can affect a condo’s probability of being put up for collective sale by up to 5%. Meanwhile, tenure (freehold versus leasehold) and location (whether the property is located in the Central Region or Non-Central Region) were found to be statistically insignificant at 5% level. Using the absolute value of sales transactions between 2014 and 2017 as a guide, we take a look at the most affordable non-landed residential developments with en bloc potential within CCR…. Continue Reading
En bloc contagion spreads to commercial, mixed-use properties
Flood of residential deals re-energises Goldhill Centre and Katong Shopping Centre owners to have another go at collective sale
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En bloc fever back in Singapore, with 7 collective sale transactions this year
It’s a fever that last swept Singapore in 2011 before property cooling measures introduced in 2013 cooled it. Now, it looks like the collective-sale fever has hit again, with deals flowing fast and thick in the past two months. Six residential developments and an industrial complex have already been sold en bloc – far exceeding the three deals done in all of 2016. The seven collective-sale transactions this year total S$2.5 billion in value, more than double last year’s S$1 billion. What’s driving the resurgence in collective sales? Rising optimism in the property market, still-low interest rates, brisk new home sales and the limited supply of land for development. Analysts expect more such deals to come as home owners look to cash in on the fever. Properties already put up for en bloc tender and awaiting their outcome include Dunearn Court condominium off Dunearn Road, Villa D’Este condominium in Dalvey Road and City Plaza in Paya Lebar…. Continue Reading
Residential en bloc market picking up steam, but developers cautious: Analysts
The residential en bloc market is picking up steam, according to experts – with four successful deals conducted so far this year to the tune of around S$1.5 billion. This exceeds the combined value of en bloc deals reached in 2016, which saw three en bloc deals valued at more than S$1 billion. Residential properties that have gone on the en bloc market recently include Pearl Bank Apartments on Jul 8 and former HUDC estate Serangoon Ville on Jun 21. The collective sales market is also the only source of freehold sites, encouraging developers to keep an eye on properties that go on the market, said Intl Property Advisor CEO Ku Swee Yong. Yet while analysts cite the recent en bloc successes as contributing to positive market sentiment, they point out that there may still be a price-and-expectation gap between sellers and developers. Developers also need to factor in the cost of topping up the lease for leasehold sites and potential penalties from QC and ABSD. JLL estimates that more than 30 projects are in the process of entering the collective sale market this year….Continue Reading
Riding the en bloc fever wave
The big “E” (read: en bloc) has been making waves in the property market for a good part of the year. Everyone is talking about it but what does en bloc fever really entail? En bloc fever is a property phenomenon that brings optimism to the real estate market. Thus far in 2017, there have already been six residential developments and an industrial complex sold en bloc. This figure far exceeds the three deals done in 2016. Looking at the numbers, we have hit S$2.5 billion in collective sale transactions, more than doubling the S$1 billion achieved in 2016. With a handful of deals in the pipeline and a few more awaiting bids; we can fully expect more en bloc deals to come into the market as we approach the last quarter of 2017. So where do we go from here? I will delve deeper and analyse the en bloc market in this article. As the en bloc market is so large, I have decided to break it down into different groups and this article will turn the spotlight solely on ex-HUDC estates and their collective sales potential…. Continue Reading
Collective sale fever continues
Aug 22 saw the launch of collective sale tenders for two former HUDC estates – Florence Regency and Normanton Park – at a reserve price of $600 million and $800 million respectively. Meanwhile, owners at Park West condominium are attempting a collective sale of the property at $750 million, subject to receiving the required approval of 80% of its homeowners. So far in 2017, there have been eight successful collective sales – including that of Citimac Industrial Building – at a total value of approximately $3.5 billion. The most recent collective sale was that of privatized HUDC estate Tampines Court. On Aug 23, Huttons Asia, the marketing agent for Tampines Court, revealed that the collective sales committee had approved Sim Lian Group’s $970 million bid for the 702,164 sqft site…. Continue Reading
Top condos with en bloc potential: Most affordable outside prime districts
Following our article on the most affordable condos with en bloc potential in Singapore’s prime districts, we’ve identified similar properties within the city fringes and suburban areas. As with before, we used our logit model to identify condos with the highest probability of being put up for collective sale. Based on the model, we found that variables such as age (older developments have a higher probability), number of units in the development (smaller developments have a higher probability), and plot ratio enhancement can have a significant impact on a property’s en bloc potential. For this article, we looked at the absolute value of sales transactions that took place between 2014 and 2017 as a guide to identifying affordable properties with en bloc potential within planning areas located in RCR and OCR…. Continue Reading
En-Bloc Fever 2017: How Much Longer Will It Go On?
Property is getting hot on the little red dot.
For the past few months, we have been reading about one residential property after another being sold en bloc, with many more being put on sale. After a spate of successful collective sales, both large and small, pundits started to declare that the Singapore property market is officially in an “en-bloc fever”.
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En-bloc fever 2017: How much longer will it go on?
For the past few months, we have been reading about one residential property after another being sold en bloc, with many more being put on sale. After a spate of successful collective sales, both large and small, pundits started to declare that the Singapore property market is officially in an “en-bloc fever”. The total value of en bloc deals for 2017 has already hit $6.1 billion – a figure that could continue to increase in view of additional deals that have the potential to close in the remaining months. This makes 2017 currently the third biggest year for en bloc deals in terms of value, after 2007 ($12.2 billion) and 2006 ($8.2 billion). This has led to an upbeat sentiment throughout the property sector. Developers have demonstrated their ability and willingness to fork out these huge amounts of cash for residential properties, leading to many other properties being put on the market in hopes of selling collectively and earning a handsome margin…. Continue Reading
List of enbloc deals in Singapore for 2017 and ongoing enbloc deals
2017 En blog Deals Announced
1. One Tree Hill Gardens @ $65M by Lum Chang Holdings (May 17)
2. Goh & Goh Building @ $101.5M by BBR Holdings (May 17)
3. Rio Casa @ $575M by Oxley-Lian Beng JV (May 17)
4. Eunosville @ $765M by MCL Land (June 17)
5. The Albracca @ $69.119M by Sustained Land (July 17)
6. Serangoon Ville @ $499M by Oxley Holdings (July 17)
7. Citimac <Industrial> @ $430.1M By (July 17)
8. Tampines Court @$970M by Sim Lian Development (Aug 17)
9. Sun Rosier @ $271m by SingHaiyi Properties (Sept 17)
10. Jervois Garden @ $72m by Brownstone Pte Ltd(SC Global ) (Sept 17)
Developments trying En bloc
Dunearn Court
Villa D’Este
City Plaza
Ivory Heights
Pine Grove
Laguna Park
Chancery Court
Lagoon View
Normanton Park
Chuan Park
Thomson View
Pearl Bank Apartments
Spring Grove
Braddell View
The Changi Garden
Lakepoint condo
Cairnhill Mansions
Park West Condo
Temperatures rise when en bloc fever strikes
The estate is planning to launch its bid to go en bloc after being privatised in March, a journey that took 18 years.
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EN-BLOC STEP BY STEP- LEGAL ASPECTS
This article focuses on the legal aspects of an en-bloc sale exercise.
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8 USEFUL THINGS TO KNOW ABOUT EN BLOC SALES
En bloc fever is now on (again) in Singapore. Whether or not your crummy old apartment will reap you a windfall, it’s still good to know what your fellow Singaporeans are going nuts about
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More estates get in on collective sale action
Three residential estates gunning to be sold en bloc while City Plaza looks to form sale committee
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Property windfalls: Four of the biggest en bloc sales of 2017
SINGAPORE: The sale of Amber Park condominium, which was announced on Wednesday (Oct 4), set a record for Singapore’s largest freehold collective sale by dollar value, at S$906.7 million.
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Collective-sale hopefuls
Besides Serangoon Ville and Tampines Court, other privatised HUDC estates that are exploring a collective sale include Ivory Heights in Jurong East, Pine Grove in the Mount Sinai area, Laguna Park in Marine Parade and Chancery Court on Dunearn Road.
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Collective Sale
News, Resource and information of Collective Sale for Singapore property market by PropertyGuru.com.sg, Singapore’s leading property site.
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EN BLOC SALES
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