{"id":93455,"date":"2018-07-09T10:20:46","date_gmt":"2018-07-09T03:20:46","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/fate-of-en-bloc-bids-now-uncertain-with-new-housing-curbs\/"},"modified":"2018-07-09T11:03:57","modified_gmt":"2018-07-09T04:03:57","slug":"fate-of-en-bloc-bids-now-uncertain-with-new-housing-curbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fate-of-en-bloc-bids-now-uncertain-with-new-housing-curbs\/","title":{"rendered":"Fate of en bloc bids now uncertain with new housing curbs"},"content":{"rendered":"


\nThe government\u2019s surprise release of new property cooling measures has left many homeowners jittery, especially those planning to go en bloc.
\nThis comes as the fate of their collective sale bids has now become uncertain, given that developers are expected to take a cautious stance in bidding for new sites.
\nHuttons Asia\u2019s Head of Investment Sales, Terence Lian revealed that he has received over 30 calls from concerned homeowners wondering how the measures would affect market sentiments as well as the progress of their collective sale, reported Today Online.
\nWith this, Lian has set meetings for two large sites \u2013 Kensington Park on Wednesday (11 July) and Pine Grove on Thursday (12 July) \u2013 to discuss the impact on the development and the actions that could be taken to ensure their collective sale bids will proceed smoothly.
\nWith a reserve price of $1.65 billion, the 660-unit Pine Grove near Ulu Pandan Road is seeking the consent of the last 20 or so units before the site could be launched for sale.
\nThe 310-unit Kensington Park in Serangoon Gardens, on the other hand, has a reserve price of $1.05 billion and is persuading around 10 percent more of the homeowners to agree to the collective sale.
\nThe collective sales committees at Cavendish Park and Laguna Park in Marine Parade are also set to hold a meeting to discuss the impact of the measures.
\n\u201cWe are talking to our marketing agent. We will let them advise (and) consider if there are any actions to be taken\u201d said Tony Sum, the collective sale committee chairman at Laguna Park.
\nDespite the concerns, some homeowners believe that an en bloc sale is still the way to go for their developments.
\n\u201cTo me, the ABSD is very small. If you really need (to buy) a property, paying S$50,000 or more (for the stamp duty) doesn\u2019t matter,\u201d said a 67-year old Pine Grove residents, who refused to be identified. He noted that residents will still gain more from a collective sale than through the current open market.
\nLeonard Jayamohan, a member of the collective sale committee for Mandarin Gardens, concurs, \u201cWe don\u2019t see a major problem\u2026 I would say a lot of people have a negative view, but we see that it is even better for us. Developers are going to focus (and) look for something that is worth their time and money.\u201d
\nWith a site area of more than one million sq ft, Mandarin Gardens has a $2.5 billion reserve price and is expected to be attractive to big property developers, he added.
\n\u00a0
\nSenior Content Producer, Christopher Chitty, edited this story.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Fate of en bloc bids now uncertain with new housing curbs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The government\u2019s surprise release of new property cooling measures has left many homeowners jittery, especially...<\/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-93455","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-ojl","jetpack-related-posts":[{"id":97824,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fewer-en-bloc-transactions-expected-for-the-rest-of-2018\/","url_meta":{"origin":93455,"position":0},"title":"Fewer en bloc transactions expected for the rest of 2018","date":"September 14, 2018","format":false,"excerpt":"\r There was about $10.5 billion worth of en bloc deals in the first half of 2018. With the en bloc fever driving real estate activity in the first half of the year, the government\u2019s surprise property cooling measures in July dealt a huge blow on the bullish collective sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93607,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-plans-push-through-while-others-put-on-hold-amid-new-curbs\/","url_meta":{"origin":93455,"position":1},"title":"En bloc plans push through while others put on hold amid new curbs","date":"July 11, 2018","format":false,"excerpt":"\r Homeowners of Dalvey Court have been advised to extend the tender closing date in light of new cooling measures by the government Homeowners eyeing to go on en bloc have put their plans on hold or went back to the drawing board to devise new strategies amid the uncertainties\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97610,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pandan-valley-seeks-record-2-6b-en-bloc-asking-price\/","url_meta":{"origin":93455,"position":2},"title":"Pandan Valley seeks record $2.6b en bloc asking price","date":"September 11, 2018","format":false,"excerpt":"\r Each owner could receive nearly $4.2 million on average if the sale goes through. The Pandan Valley condominium has established a new record for Singapore\u2019s highest asking price in a collective sale, after its residents voted to set the reserve price at $2.6 billion during a meeting on Saturday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73700,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-up-for-en-bloc-sale-for-s818mil\/","url_meta":{"origin":93455,"position":3},"title":"Park West up for en bloc sale for S$818mil","date":"December 5, 2017","format":false,"excerpt":"\r After two failed attempts at a collective sale in 2007 and 2011, Park West condominium near Clementi MRT station has once again been put up for en bloc sale with an asking price of S$818 million, reported Channel News Asia. This comes after over 80 percent of the owners\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64471,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lian-to-build-12-storey-condo-at-tampines-site\/","url_meta":{"origin":93455,"position":4},"title":"Sim Lian to build 12-storey condo at Tampines site","date":"August 24, 2017","format":false,"excerpt":"\r \u00a0 Sim Lian intends to develop a condominium project with over 2,000 units on the Tampines Court site, which it acquired for S$970 million, reported Business Times. This makes Tampines Court the biggest collective sale since 2007, when Farrer Court was sold for S$1.3388 billion. Exceeding the initial reserve\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111073,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-estate-en-bloc-tender-relaunch-closes-without-bids\/","url_meta":{"origin":93455,"position":5},"title":"Braddell View estate en bloc tender relaunch closes without bids","date":"September 26, 2019","format":false,"excerpt":"\r Previously put up for sale on 27 March, the tender closed in May without any bids. It was again launched for sale on 13 August. The Tender for Braddell View estate closed without receiving any bid following its relaunch for collective sale at the same price of S$2.08 billion,\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\/93455"}],"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=93455"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/93455\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=93455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=93455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=93455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}