Top 5 key preparations to make when your property is going En-Bloc
Top 5 key preparations to make when your property is going En-Bloc
How to Ride 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?
Read more…
For educational purposes only. All copyrights belong to their respective owners.
Like a bank statement, get a FREE, personalized webapp showing Facts & Figures for your Home & Neighbourhood Listings & Transactions.
Plus, a free monthly SMS with your updated home value.
WHAT YOU NEED TO KNOW ABOUT EN-BLOC SALES IN SINGAPORE
Private property is a well sought-after commodity in land-scarce Singapore. Yet in some cases, the government and property developers can actually take over the land that your property sits on, compelling you to sell your house.
Read more…
What is En-Bloc?
An en-bloc or collective sale occurs when the there is a sale of two or more property units to a common developer. In the event of a successful en-bloc sale, proceeds are usually divided amongst all the unit owners.
Read more…
Why En-Bloc?
The obvious reason is the high potential for profits. In land-scarce Singapore, property prices are generally on the uptrend over a long time horizon.
Read more…
What The En-Bloc Process Involves
Either external buyers or homeowners who can put the entire development on sale can initiate an en-bloc.
The first step is for the homeowners to form a sales committee and appoint no more than three persons to represent the entire group.
Read more…
What are the main driving forces behind the en bloc fever?
The demand for land parcels far outweigh the supply of land parcels. This is because the real estate market is starting to form a floor in terms of pricing as more and more buyers are starting to look for property.
Read more…
Why are privatised HUDC estates a hotbed for en bloc fever?
Privatised HUDC estates are a unique class of property in Singapore. They were originally created for the sandwiched class of Singaporeans who can afford more than HDB flats, but cannot quite afford private condos.
Read more…
What are the five recent ex-HUDC en bloc sales?
There were five ex-HUDC estates that successfully completed their enbloc in the last two years – Shunfu Ville, Raintree Gardens, Rio Casa, Eunosville and Serangoon Ville. From a market standpoint, these were the low hanging fruit. Looking at the number of units in each development, all five developments were not too large nor too small.
Read more…
So what’s next for the remaining eight?
Of the remaining eight privatised HUDC estates – Tampines Court, Florence Regency, Laguna Park, Ivory Heights, Pine Grove, Chancery Court, Braddell View and Lakeview Estate – six have started the en bloc process
Read more…
What does the recent bumper crop of collective sales mean for the property scene?
The next real estate boom is coming. Bullish bids for land do not come out of the blue. No one is in the business to lose money. Collective sales mark the bottom of the market. Every time a collective sale happens, the surrounding developments pick up in price and interest. This is because the bids from recent en bloc sales have been much higher than surrounding developments. This means that when the time comes for the new development to launch, the developer would have to include the build cost and their markup margin in the launch price. As a result, these en bloc projects would launch at a premium over current projects.
Read more…
Why the en bloc fever may lead to a rise in property prices?
National Development Minister Lawrence Wong has pointed out that, due to factors such as the Additional Buyer’s Stamp Duty for developers – property prices may not edge up even with the on-going en bloc fever. While there are still factors that keep property prices down, not least the winding down of the oversupply situation from 2013, buyers should still be wary. There are still many reasons why prices can go up, sooner than expected.
Read more…
What is keeping prices down?
At present, the twin effect of loan curbs (the Total Debt Servicing Ratio) and the Additional Buyer’s Stamp Duty (ABSD) is still holding property prices down.
Read more…
Why Significantly higher bids by developers?
Developers are paying around 29 per cent more land, as compared to 2012. And while we’d love to say that’s because of huge confidence in the property market, it’s not quite the case.
Read more…
What are the Rising Development Charges across the board?
Development Charges (DC) are levied on developers, as a tax for projects that increase land value (that invariably includes demolishing old properties to build a new one). You can check out the formula for DCs here.
Read more…
What is The spillover effect from new to old properties?
New properties and old ones have divergent prices – that doesn’t change the fact that prices of the two moves in tandem.
Read more…
Are We also must consider if over-supply is still a continuing factor?
As Minister Lawrence Wong himself points out, the supply of housing has shrunk. There are 17,200 up for grabs in Q3 2017, down from 40,000 in 2012.
Read more…
Will your condo be put up for en-bloc?
Methodology: The Edge Property constructed a logit model to determine the probability a condominium would be put up for collective sale. You can also readabout the 10 condos we think have high en-bloc potential.
En bloc sale – the good, the bad and the ugly
Spring Grove is the latest condominium jumping on the en bloc sale bandwagon.
Almost every week, there is an announcement of a new privatized HUDC estate or old project putting up for sale.
En bloc wealth multiplier?
The latest collective sale of Mayfair Gardens brings the total tally for the year to $6.7 billion. Part of that money will return to the Singapore property market, while some of it could eventually make its way abroad.
Read more…
Read more…
WHAT ARE THE HISTORICAL ENBLOC SALES, BREAKDOWN BY YEAR?
WHAT ARE THE HISTORICAL ENBLOC SALES, BREAKDOWN BY DISTRICT?
WHAT ARE THE TOP 20 LARGEST ENBLOC SALES?
What are the 5 key preparations to make when your property is going en-bloc?
It’s finally happened – a developer has decided your old house, leaking roof and all, is worth way more than you originally paid for it. Before you start celebrating and picking your new home, there are some preparations you should make. Failure to do these could result in a financial and logistical nightmare, from which you’ll take a year to emerge:
Will your new home be ready, by the time you’re vacating the old one?
BUYING IN SINGAPORE, PROPERTY NEWS & ANALYSIS
5 key preparations to make when your property is going en-bloc
It’s finally happened – a developer has decided your old house, leaking roof and all, is worth way more than you originally paid for it. Before you start celebrating and picking your new home, there are some preparations you should make. Failure to do these could result in a financial and logistical nightmare, from which you’ll take a year to emerge:
Read more…
Have a storage plan for all your belongings
Will your new home be ready, by the time you’re vacating the old one?
If not, you need to work out where to stash all your belongings – particularly the furniture you want to keep. It may mean renting storage facilities, or even warehousing, for a short time.
Read more…
Make sure you have enough cash to cover you, till the proceeds come in
It can take up to a year for sales proceeds to come in, if you’re unfortunate. During this time, you need to make sure you have sufficient cash for your new home.
Read more…
Budget early, for the renovation of you new home
Most renovation loans are capped at six months of your income, or $30,000, whichever is higher. You’ll want to enquire with the bank, as to whether you qualify for such a loan. If not, you may need to use in-house financing, by going through the interior design firm.
Read more…
If you would make a financial loss, be ready to present your case to the Strata Titles Board
Even if the majority vote to go en-bloc is reached, the sales committee must still present the case for the en-bloc to the Strata Titles Board. This can only be circumvented if there is a unanimous (100 per cent) vote to go en-bloc.
Read more…
Move to secure properties quickly, if you want one that’s nearby
Most homeowners affected by the en-bloc will be looking at the same places as you: properties in the same neighbourhood as their old house. In fact, an en-bloc is often good news for other sellers in the area, as new homeowners seek properties in a familiar zone.
Read more…
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.
Readmore…
En Bloc News
Read more…
En Bloc News
Read more…
5 freehold condos near en bloc estates
If you’ve been watching the property market, you must’ve noticed the recent spate of en bloc activity. In fact, the entire island seems gripped by collective-sale fever at the moment. Six residential en bloc deals have been sealed in the year-to-date. Serangoon Ville was snapped up for $499 million in July, while projects in the process of going en bloc include Sun Rosier, Florence Regency, Normanton Park and Park West.
Read more…
What are the 5 property trends we’ll probably see in 2018?
It’s almost 2018, and if this year was anything to go by, things are about to get crazy. Everyone’s expecting an upturn in the property market – but the question is when. On top of that, we have some new fads that are popping all over the place. Here are some of the things to brace for:
En bloc madness will likely accelerate, unless the government steps in
The rush to refinance will probably keep mortgage bankers busy
Property sales volumes is likely to be brisk
Expect to pay more for your private property
The rental market seems likely to remain weak
Read more…
What are the Most affordable condos with en bloc potential in Singapore’s prime districts?
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.
Read more…
What will en bloc millionaires buy next?
Retired chartered surveyor and valuer Lim Lian Seng was chairman of the collec- tive sale committee for the third time at the freehold Amber Park condomin- ium when it was sold for $906.7 million ($1,515 psf per plot ratio) in October. The price paid by the top bidder — joint venture partners City Developments and Hong Leong Holdings — at the close of the tender reflected an 18% premium to the reserve price of $768 million.
Read more…
En bloc sales for dummies – what happens when a property goes en bloc
En bloc sales are all the rage right now, but do you understand what actually happens when your property goes up for it? Here are the steps involved:
Read more…
Ongoing En Bloc Sales 2017
Interested in finding out the projects which are in the process of going en bloc? SRX Property has compiled the following list for you
En Bloc Sales 2017
2017 has witnessed another wave of en bloc fever. Till date, a total of 16 collective sales worth more than S$6.2 million were transacted, according to SRX Property compilation. In some collective sales, the sheer project size means that a sizable number of displaced homeowners will be looking for a new home, creating housing demand.
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.
En bloc contagion spreads to commercial, mixed-use properties
THE residential en bloc contagion has spread to the other property sectors, with more commercial and mixed-use developments joining the collective sales rush.
Read more…
Search Result for ‘Potential En Bloc’
The hidden cost of en-bloc fever
There’s en-bloc fever in Singapore right now, as foreign developers (Chinese foreign developers, to be precise) muscle in. We’re not a unique case – if you look at Hong Kong and Australia, you’ll see Chinese developers have been buying up land like crazy everywhere. That’s good news for people living in old estates, but don’t forget there’s a cost to the rest of us:
Why are Chinese developers paying crazy prices?
EN BLOC SALES News
en bloc News
Read more…
Commentary: What happens when the en bloc musical chairs stop?
Read more…
En bloc sales – What happens when your property goes en bloc
En bloc sales are all the rage right now, but do you understand what actually happens when your property goes up for it? Here are the steps involved:
1. There are three ways an en bloc process gets started:
2. Pro-tem committee to rally interest
Owners who want to sell will form a pro-tem committee, with the aim of rallying support for the en bloc sale.
3. Engaging a property consultant and law firm
4. Getting the majority to say yes
5. If the owners initiated the en bloc, the property consultant then handles the sale by tender
6. Application to the Strata Titles Board (if there’s no 100 per cent agreement to sell)
7. If the application is approved by the Strata Title Board, the en bloc takes place according to an agreed-upon timeline
Read more…
Don’t miss more posts by REALTOR Mani 玛尼 மணி Subramanian Veeramani
Check it out my posts (700+) https://www.linkedin.com/today/posts/AskRealtorMani
?+6583004411
Preview
Preview
Preview
Preview
Preview
Preview
Preview
Preview
Preview
