{"id":68544,"date":"2017-10-09T11:01:23","date_gmt":"2017-10-09T04:01:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sale-fever-sustainable-says-jp-morgan\/"},"modified":"2017-10-09T11:03:44","modified_gmt":"2017-10-09T04:03:44","slug":"collective-sale-fever-sustainable-says-jp-morgan","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sale-fever-sustainable-says-jp-morgan\/","title":{"rendered":"Collective sale fever \u201csustainable\u201d, says JP Morgan"},"content":{"rendered":"


\nView of Amber Park, a 200-unit development in Amber Gardens. (Photo: JLL)
\nJP Morgan believes the collective sale frenzy in Singapore is \u201csustainable\u201d as the number of unsold housing units in the pipeline, excluding executive condos, has dropped for three consecutive quarters to an all-time low of 10,303 units as at Q2 2017, reported The Straits Times.
\nJP Morgan analyst Brandon Lee noted that developers have not also replenished their land banks enough in order to offset the units they are selling.
\nWith 25 deals closed, en bloc sales of residential sites have reached $5.2 billion so far this year, making 2017 the third-biggest year of collective sales after 2007 with $12.2 billion and 2006 with $8.2 billion.
\nThis year\u2019s 25 transactions provides \u201cclear evidence of another en-bloc cycle in the making, which traditionally lasts at least three years\u201d, said Lee.
\n\u201cWe expect this to result in immediate displacement demand, improved vacancy and higher selling prices,\u201d he added.
\nIn fact, real estate stocks received a boost from the success of two large collective sales last week.
\nUOL Group emerged as one of the biggest winners as its shares soared 4.3 percent or 35 cents to $8.55, while City Developments (CDL) shares rose 1.7 percent or 19 cents to $11.60. Wheelock Properties shares, on the other hand, increased 3.9 percent or 7.5 cents to $1.98.
\nOn 4 October, CDL via its Cityzens Development unit and a joint-venture partner from Hong Leong Group acquired Amber Park for $906.7 million, which marked the largest freehold en bloc sale deal, while Kingsford Huray Developmen acquired Normanton Park the following day for $830.1 million.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Collective sale fever \u201csustainable\u201d, says JP Morgan<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of Amber Park, a 200-unit development in Amber Gardens. (Photo: JLL) JP Morgan believes...<\/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-68544","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-hPy","jetpack-related-posts":[{"id":59228,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/frenzy-in-en-bloc-market-unlikely-to-ensue-experts\/","url_meta":{"origin":68544,"position":0},"title":"Frenzy in en bloc market unlikely to ensue, experts","date":"June 29, 2017","format":false,"excerpt":"\r \u00a0 Despite 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,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-still-rising-already-highest-in-two-years\/","url_meta":{"origin":68544,"position":1},"title":"En bloc sales still rising, already highest in two years","date":"December 11, 2017","format":false,"excerpt":"\r The 37-storey horseshoe-shaped building comprises 280 apartments and eight commercial units. It sits on an 82,376 sq ft site and has a 99-year lease with effect from June 1970. (Photo: Colliers International) The number of collective sales here have already reached the highest in two years, reported the Singapore\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64126,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-owners-make-third-collective-sale-attempt\/","url_meta":{"origin":68544,"position":2},"title":"Park West owners make third collective sale attempt","date":"August 21, 2017","format":false,"excerpt":"\r Featuring a land area of 633,644 sq ft, Park West comprises 432 apartments and four shop units.\u00a0 Following two failed attempt at a collective sale in 2007 and 2011, condominium owners at Park West are hoping that their third try at an en bloc sale would be successful, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104413,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pine-grove-tender-a-litmus-test-for-en-bloc-appetite\/","url_meta":{"origin":68544,"position":3},"title":"Pine Grove tender a litmus test for en bloc appetite","date":"February 26, 2019","format":false,"excerpt":"\r 2018 was a successful year for en bloc sale transactions until the government rolled out new property curbs in July. Pine Grove, a former HUDC project at Ulu Pandan Road, is up for collective sale carrying an asking price of $1.86 billion, reported the Business Times. Despite the cautious\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":68544,"position":4},"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":105399,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-en-bloc-attempt-fails-to-take-off\/","url_meta":{"origin":68544,"position":5},"title":"Mandarin Gardens en bloc attempt fails to take off","date":"March 26, 2019","format":false,"excerpt":"\r The asking price for the development was raised after the owners discovered that the land parcel was undervalued. The en bloc sale attempt of Mandarin Gardens failed to take off even as the asking price was raised to a record high of $2.927 billion, reported the New Paper. This\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\/68544"}],"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=68544"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/68544\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=68544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=68544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=68544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}