{"id":59228,"date":"2017-06-29T08:59:11","date_gmt":"2017-06-29T01:59:11","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/frenzy-in-en-bloc-market-unlikely-to-ensue-experts\/"},"modified":"2017-06-29T09:08:56","modified_gmt":"2017-06-29T02:08:56","slug":"frenzy-in-en-bloc-market-unlikely-to-ensue-experts","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/frenzy-in-en-bloc-market-unlikely-to-ensue-experts\/","title":{"rendered":"Frenzy in en bloc market unlikely to ensue, experts"},"content":{"rendered":"


\n\u00a0
\nDespite the pick up in activity within the residential en bloc market, with four collective transactions done so far from last year\u2019s three, property experts believe conditions will not return to the peak of 2007, when immigration and global economic growth fuelled the hike in real estate prices, reported Today Online.
\nAccording to them, the property market was \u201crelatively quiet\u201d during the last three to four years, making them a low base of comparison.
\nAnd although the number of units sold via collective sales during the first half of 2017 were the highest since 2011, they are still less than half than what was transacted then.
\nData compiled by Cushman and Wakefield Singapore research head Christine Li showed that 650 en bloc units were sold at a total value of S$1.521 billion in January to June, up from the 582 units sold at a total value of S$1.158 billion for the whole of last year.
\nMeanwhile, only 1,402 en bloc units were sold at S$3.479 billion from 2012 to 2016, while 12,710 en bloc units were sold at S$22.3 billion from 2005 to 2007, said Li.
\nPropNex Realty CEO Mohamed Ismail is not surprised by the renewal of interest considering the hike in sales for newly-launched projects.
\nHe noted that the upward trend is expected to continue in 2018 as there is some price stabilisation within the market and the developers are relatively upbeat.
\nHowever, JLL Singapore regional director of capital markets Tan Hong Boon revealed that while between 30 and 40 residential properties across Singapore are gearing up for collective sale, most of them may not come to the market given that the collective sale process, which often involve a legal process, can take \u201cyears\u201d to complete.
\n\u201cThere is a strict process for en-bloc sales, and developers would prefer government land sales, which are more direct,\u201d he said.
\nNotably, the state is expected to ramp up government land sales on the back of the increased demand for land sites, said Ismail.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Frenzy in en bloc market unlikely to ensue, experts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Despite the pick up in activity within the residential en bloc market, with four...<\/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-59228","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-fpi","jetpack-related-posts":[{"id":79270,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/city-towers-sold-en-bloc-for-401-9m\/","url_meta":{"origin":59228,"position":0},"title":"City Towers sold en bloc for $401.9m","date":"February 8, 2018","format":false,"excerpt":"\r The freehold development was sold to an undisclosed buyer for much higher than the owners\u2019 reserve price. (Photo: Colliers International) Singapore\u2019s collective sales fever shows no signs of abating with City Towers being the latest development to be successfully sold en bloc, reported the Business Times. Launched on 4\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84132,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-fever-spreads-to-property-auction-market\/","url_meta":{"origin":59228,"position":1},"title":"En bloc fever spreads to property auction market","date":"March 29, 2018","format":false,"excerpt":"\r More properties being sold at auction. Investors are apparently searching for homes in the auction market that can be sold in future for a good profit via collective sale, according to an Edmund Tie & Co report released today (29 Mar). \u201cIn the last six months, we noticed that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67640,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ridgewood-condo-mulls-en-bloc-sale\/","url_meta":{"origin":59228,"position":2},"title":"Ridgewood condo mulls en bloc sale","date":"September 28, 2017","format":false,"excerpt":"\r The owners of the 464-unit Ridgewood Condominium along Mount Sinai Drive in District 10 plans to hold an extraordinary general meeting on 14 October to vote on whether to create a collective sale committee, reported the New Paper. Constructed in 1981, the 999-year leasehold property with an overall area\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-owners-eyeing-2-billion-en-bloc-sale\/","url_meta":{"origin":59228,"position":3},"title":"Braddell View owners eyeing $2 billion en bloc sale","date":"September 19, 2017","format":false,"excerpt":"\r The 918-unit project is the last HUDC estate to be privatised. (Photo: HDB) The residents of the biggest HUDC estate here plan to hold an extraordinary general meeting on 10 October to form a collective sale committee in a bid to sell the entire property for a minimum price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71104,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-soars-by-over-4-fold-says-mnd\/","url_meta":{"origin":59228,"position":4},"title":"En bloc sales soars by over 4-fold, says MND","date":"November 7, 2017","format":false,"excerpt":"\r An aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. (Photo: Knight Frank Singapore) Collective sales have surged from around 600 units for the whole of 2016 to about 2,700 existing private homes so far this year, revealed the Ministry of National Development (MND) during a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-rosier-sold-en-bloc-for-271m\/","url_meta":{"origin":59228,"position":5},"title":"Sun Rosier sold en bloc for $271m","date":"September 25, 2017","format":false,"excerpt":"\r Each owner is expected to gain around $2.86 million to $4.77 million from the sale. (Photo: Google Maps) In the latest en bloc sale, SingHaiyi Group has acquired Sun Rosier condominium at 5A How Sun Drive off Bartley Road for $271 million, up 15.3 percent from its $235 million\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\/59228"}],"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=59228"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/59228\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=59228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=59228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=59228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}