{"id":74220,"date":"2017-12-11T10:42:27","date_gmt":"2017-12-11T03:42:27","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-still-rising-already-highest-in-two-years\/"},"modified":"2017-12-11T11:03:00","modified_gmt":"2017-12-11T04:03:00","slug":"en-bloc-sales-still-rising-already-highest-in-two-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-still-rising-already-highest-in-two-years\/","title":{"rendered":"En bloc sales still rising, already highest in two years"},"content":{"rendered":"


\nThe 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)
\nThe number of collective sales here have already reached the highest in two years, reported the Singapore Business Review, citing a report from Cushman & Wakefield.
\nCompared to one deal for the whole of 2015 and six in 2016, 20 existing housing projects with a total of around 2,900 units have changed hands via this method so far this year.
\n\u201cThe en bloc market has kickstarted a round of frenzy buying, as fence-sitters fear that private home prices could soon rise beyond their reach, once developers gear up for new launches next year,\u201d said Cushman\u2019s Research director Christine Li.
\nMoreover, collective sales in Singapore have already exceeded the $6.34 billion figure calculated by the property consultancy as of 15 November 2017.
\nAmong the top deals this year, are the $728 million and $907 million sales of Pearlbank Apartments and Amber Park respectively, with the latter located on one of the biggest sites measuring 213,675 sq ft.
\nSEE ALSO: Pearl Bank Apartments makes 4th collective sale attempt
\nAccording to United Overseas Bank, the high number of successful en bloc sales could spur homeowners to jump on the bandwagon in an attempt to monetise their properties at a good price. The lender even thinks that the collective sales boom could extend for another 12 to 24 months with about 60 to 80 projects at some point in the collective sales process.
\nMeanwhile, the continued rise in en bloc transactions came despite the Monetary Authority of Singapore (MAS)\u2019s warning that the redevelopment of these sites is expected to lead to an additional 20,000 new private dwellings. This figure is projected to result in a two-fold surge in the number of unsold homes entering the market over the next one to two years.
\nIn regards to the anticipated price hike stemming from the collective sales frenzy, Minister of National Development Lawrence Wong believes that this may not happen as an uptick in valuation depends on demand\/supply factors during the launch of these new developments.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…En bloc sales still rising, already highest in two years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 37-storey horseshoe-shaped building comprises 280 apartments and eight commercial units. It sits on an...<\/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-74220","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-jj6","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":74220,"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":68544,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sale-fever-sustainable-says-jp-morgan\/","url_meta":{"origin":74220,"position":1},"title":"Collective sale fever \u201csustainable\u201d, says JP Morgan","date":"October 9, 2017","format":false,"excerpt":"\r View of Amber Park, a 200-unit development in Amber Gardens. (Photo: JLL) JP 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\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":74220,"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":71104,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-soars-by-over-4-fold-says-mnd\/","url_meta":{"origin":74220,"position":3},"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":106971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/st-francis-court-up-for-en-bloc-at-95m\/","url_meta":{"origin":74220,"position":4},"title":"St Francis Court Up For En Bloc At $95m","date":"May 9, 2019","format":false,"excerpt":"\r In the event of a successful collective sale, the owners are expected to receive more than $1 million to $1.5 million in sales proceeds, depending on the size of their units. St Francis Court, an 11-storey residential development at 90 Saint Francis Road, has been put up for collective\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75061,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-december-2017\/","url_meta":{"origin":74220,"position":5},"title":"News Roundup (December 2017)","date":"December 21, 2017","format":false,"excerpt":"\r Our top Singapore property stories. Govt unveils land sales programme for first-half 2018 Six confirmed list and nine reserve list sites will be launched under the H1 2018 Government Land Sales (GLS) programme, the Urban Redevelopment Authority (URA) announced in December. These land parcels could potentially yield approximately 8,045\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Amber-Park-e1513842219268.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/74220"}],"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=74220"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/74220\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=74220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=74220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=74220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}