{"id":71104,"date":"2017-11-07T10:18:45","date_gmt":"2017-11-07T03:18:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-soars-by-over-4-fold-says-mnd\/"},"modified":"2017-11-07T11:06:46","modified_gmt":"2017-11-07T04:06:46","slug":"en-bloc-sales-soars-by-over-4-fold-says-mnd","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-soars-by-over-4-fold-says-mnd\/","title":{"rendered":"En bloc sales soars by over 4-fold, says MND"},"content":{"rendered":"


\nAn aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. (Photo: Knight Frank Singapore)
\nCollective 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 parliamentary session on Monday (6 November).
\nMND thinks that the strong sales growth is due to two primary factors.
\n\u201cFirst, more developers are keen to replenish their land banks.\u00a0 There has been a healthy increase in the sales of new units in the first three quarters of the year, which in turn means that the unsold supply in the pipeline has come down. To illustrate, there are about 17,200 units as at Q3 2017, down from about 40,000 units in 2012. \u201c
\n\u201cSecond, successful en-bloc sales in 2016 may have encouraged more owners of ageing residential projects to initiate the en-bloc sale process this year to monetise their assets.\u201d
\nThese are MND\u2019s responses to the queries of MP for Nee Soon GRC Dr Lim Wee Kiak regarding the main driving forces for the recent spike in en bloc sales.
\nHe also asked if whether there is a need to increase the number of residential sites offered under the Government Land Sales (GLS) programme, and what is the effect of the robust en bloc sales on the property market\u2019s outlook over the next six months.
\nIn reply, the MND said that the en-bloc residential sites sold since last year are expected to be launched for sale in the next one to two years. And these upcoming units and other key factors like population and income growth as well as prevailing market conditions will be taken into account before deciding the number of state land to be made available for sale.
\nSpecifically, it noted that the GLS programme is updated on a half-yearly basis, with Confirmed List sites designated to be released for sale within the next six months, while Reserve List plots will be triggered for sale once a developer has committed to a minimum bid price. This implies that the latter will only be purchased by home builders if they feel that there exists underlying demand.
\nThe authorities will also continue to closely monitor market trends and take necessary actions to ensure that the property sector is stable and sustainable, said the MND, adding that the details of 1H 2018 GLS programme will be announced by year-end.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…En bloc sales soars by over 4-fold, says MND<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

An aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. (Photo: Knight...<\/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-71104","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-iuQ","jetpack-related-posts":[{"id":43127,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-wont-ease-supply-of-private-housing\/","url_meta":{"origin":71104,"position":0},"title":"Govt won\u2019t ease supply of private housing","date":"February 7, 2017","format":false,"excerpt":"\r According to the MND, demand for private housing remains robust, while the number of unsold units is at a historical low. The Ministry of National Development (MND) on Monday (6 February) said it does not plan to slow down or halt the supply of private housing via the Government\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112892,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-releases-gls-residential-sites-for-1h-2020\/","url_meta":{"origin":71104,"position":1},"title":"Government releases GLS residential sites for 1H 2020","date":"December 5, 2019","format":false,"excerpt":"\r The Ministry of National Development (MND) announced on 3 December it will release three confirmed\u00a0sites for private residential developments in the 1H 2020 Government Land Sales (GLS) programme. The 1H 2020 sites will yield a combined 1,775 units. While the number of sites and units released\u00a0is lower\u00a0than the\u00a0five confirmed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111439,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-need-to-make-flat-sizes-smaller-mnd\/","url_meta":{"origin":71104,"position":2},"title":"No need to make flat sizes smaller, MND","date":"October 8, 2019","format":false,"excerpt":"\r The Ministry of National Development said existing two-room Flexi Build-to-Order flats within non-mature estates are already affordable housing options for singles.\u00a0 There is no need to make flat sizes smaller as the existing two-room Flexi units offered by the government already provide affordable housing options for singles, said the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111441,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-responds-to-queries-on-hdb-rental-flats-applications\/","url_meta":{"origin":71104,"position":3},"title":"MND responds to queries on HDB rental flats applications","date":"October 8, 2019","format":false,"excerpt":"\r The MND stressed that with HDB soon embarking on redevelopment plans for many of the older blocks.\u00a0 Png Eng Huat recently directed queries to the Minister for National Development regarding: the number of public rental flats that are unoccupied as of August 2019; the current number of accepted rental\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113125,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-to-consider-suggestions-to-tackle-hdb-lease-decay\/","url_meta":{"origin":71104,"position":4},"title":"MND to consider suggestions to tackle HDB lease decay","date":"December 17, 2019","format":false,"excerpt":"\r The government will consider proposals and suggestions for external parties to manage HDB flat leases.\u00a0 Minister for National Development Lawrence Wong has responded to two separate policy proposals, saying that all alternative suggestions and ways to manage HDB flat leases will be considered by the government. Like many condominiums\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117312,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-cuts-confirmed-lists-sites-due-to-covid-19\/","url_meta":{"origin":71104,"position":5},"title":"Government cuts confirmed lists sites due to COVID-19","date":"June 24, 2020","format":false,"excerpt":"\r The Confirmed List includes one executive condominium (EC) site at Tengah Garden Walk that can yield 615 units. The supply of private housing units from the Confirmed List sites under the Government Land Sales (GLS) Programme for the second half of 2020 has been reduced to take into account\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\/71104"}],"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=71104"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71104\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=71104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=71104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=71104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}