{"id":51661,"date":"2017-04-12T04:45:57","date_gmt":"2017-04-11T21:45:57","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/need-for-realistic-expectations-amid-expected-hike-in-en-bloc-sales\/"},"modified":"2017-04-12T12:28:58","modified_gmt":"2017-04-12T05:28:58","slug":"need-for-realistic-expectations-amid-expected-hike-in-en-bloc-sales","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/need-for-realistic-expectations-amid-expected-hike-in-en-bloc-sales\/","title":{"rendered":"Need for realistic expectations amid expected hike in en bloc sales"},"content":{"rendered":"


\nThe limited supply of land sites has resulted in more developers going after projects put up for collective sale.
\nWhile the residential collective sales market is expected to pick up this year, experts have called on owners of residential developments to be realistic with their expectations, reported Channel NewsAsia.
\nThe expected rise in en bloc sales is boosted by the strong demand for land by developers and the limited supply of residential sites at state tenders.
\n\u201cWhat we are seeing right now is a situation where many developers are going after sites, but at the same time they are also blighted with the problem of moving the sales at a higher price,\u201d explained Tan Hong Boon, Regional Director, Capital Markets at JLL Singapore.
\n\u201cThey need sites but they\u2019re not going to pay exuberant prices \u2026 I think for en bloc sales to go successfully, owners\u2019 expectations have to be realistic so as to meet bidders\u2019 capability to pay for the site.\u201d
\nIn fact, only five of the 25 sites launched for collective sale from 2014 to 2016 were successful.
\n\u201cOut of the 20 sites that failed, I would say that they failed because of too high an asking price in going to the market,\u201d said Tan.
\nFor this year, at least 21 residential projects are expected to go en bloc, based on data from JLL Singapore.
\nThese include Amber Park condominium, which is in the process of signing its en bloc sale agreement following various failed attempts, as well as Eunosville. The former Housing and Urban Development Company (HUDC) estate has secured majority approval from its residents to proceed with the sale.
\nThe figure also included 12 collective sale hopefuls, or those in the process of forming collective sales committees, such as The Balmoral and Lakeside Tower condominiums.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Need for realistic expectations amid expected hike in en bloc sales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The limited supply of land sites has resulted in more developers going after projects put...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-51661","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-drf","jetpack-related-posts":[{"id":69220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-developers-warm-up-to-en-bloc-sales\/","url_meta":{"origin":51661,"position":0},"title":"Foreign developers warm up to en bloc sales","date":"October 17, 2017","format":false,"excerpt":"\r View of HDB flats in the Ghim Moh area. Despite its cumbersome and protracted process, the en bloc fever has started to catch on among foreign developers \u2013 especially those from China \u2013 signalling a paradigm shift, reported Business Times. JLL regional director of investments Tan Hong Boon noted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":65464,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-developers-ramp-up-landbanking-activity\/","url_meta":{"origin":51661,"position":1},"title":"Singapore developers ramp up landbanking activity","date":"September 5, 2017","format":false,"excerpt":"\r View of a Government Land Sales site in Singapore. (Photo: Nikki De Guzman) Seven of the top 10 developers with the biggest residential landbank and unsold units in launched projects are local developers, according to the Business Times\u2019 compilation of developers. This comes as Singapore developers came out strong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95641,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sales-success-rate-down-despite-increased-activity\/","url_meta":{"origin":51661,"position":2},"title":"Collective sales success rate down despite increased activity","date":"August 8, 2018","format":false,"excerpt":"\r Property developers in Singapore have become more selective with their acquisitions. Despite the increased activity in the collective sales market, the success rate for en bloc sales has fallen significantly compared to 2016 and 2017 levels, reported Singapore Business Review citing Savills Asia. This comes as developers have become\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102854,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/forget-about-billion-dollar-en-bloc-sales-say-experts\/","url_meta":{"origin":51661,"position":3},"title":"Forget about billion-dollar en bloc sales, say experts","date":"January 10, 2019","format":false,"excerpt":"\r Experts feel that developers are no longer land hungry and are more concerned about selling existing projects. Real estate experts believe that en bloc residential sites in Singapore costing at least $1 billion are unlikely to find a willing buyer amidst the new market situation, reported Bloomberg. \u201cBillion-dollar en\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81478,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-rate-hike-wont-dampen-collective-sale-fever\/","url_meta":{"origin":51661,"position":4},"title":"Development charge rate hike won't dampen collective sale fever","date":"March 1, 2018","format":false,"excerpt":"\r The development charges for non-landed homes is up by 22.8 percent. The Ministry of National Development, in consultation with the Chief Valuer, has raised the development charge (DC) rates for non-landed residential use by an average of 22.8 percent, on the back of aggressive land bidding by developers at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79198,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-soared-in-2017\/","url_meta":{"origin":51661,"position":5},"title":"Residential investment sales soared in 2017","date":"February 7, 2018","format":false,"excerpt":"\r Singapore investment sales surged by 119 percent to $21.7 billion for the whole of 2017. Residential investment sales in Singapore rose sharply by 184 percent year-on-year to $8.3 billion last quarter and surged by 119 percent to $21.7 billion for the whole of 2017, according to a new report\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/51661"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=51661"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/51661\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=51661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=51661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=51661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}