{"id":97824,"date":"2018-09-14T10:02:19","date_gmt":"2018-09-14T03:02:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/fewer-en-bloc-transactions-expected-for-the-rest-of-2018\/"},"modified":"2018-09-14T10:02:52","modified_gmt":"2018-09-14T03:02:52","slug":"fewer-en-bloc-transactions-expected-for-the-rest-of-2018","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fewer-en-bloc-transactions-expected-for-the-rest-of-2018\/","title":{"rendered":"Fewer en bloc transactions expected for the rest of 2018"},"content":{"rendered":"


\nThere was about $10.5 billion worth of en bloc deals in the first half of 2018.
\nWith 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 activity, with analysts expecting fewer transactions for the second half of the year.
\n\u201cIn the private residential market, it was the collective and en bloc sales of existing residential developments to developers that captured headlines with $10.5 billion deals being done in the first half of 2018,\u201d said Savills Singapore senior director Alan Cheong.
\nMore:\u00a0Fate of en bloc bids now uncertain with new housing curbs\u00a0\u00a0
\nThe cooling measures\u2019 impact was most evident at the end of the tender for Horizon Towers in Leonie Hill, reported Singapore Business Review.
\nThe first major collective sale exercise after the cooling measures ended with no takers despite the extended tender period from 7 August to 12 September.
\nAnd while marketing agent JLL has revealed plans to put the property up for en bloc sale again by early next year, it noted that it is testing the waters first.
\n\u201cWe are focusing to see whether new projects will be moving well in the next few weeks,\u201d it said.
\nThe weak take-up raises concerns for upcoming en bloc hopefuls as prospective buyers wait on the sidelines for the full effects of the property curbs, while some have ventured into the leasing market.
\nThis comes after the Additional Buyer\u2019s Stamp Duty (ABSD) was raised by the government and Loan-to-Value (LTV) limits tightened in its ninth round of property cooling measures since 2009.
\nDespite this, analysts still expect a rebound in housing demand in the near-term.
\n\u201cUnderlying demand for homes will continue to be relatively healthy, emanating from homeowners of developments that have been sold collectively, although some of this demand may shift to the Housing Development Board market,\u201d said Edmund Tie & Co. CEO Ong Choon Fah.<\/p>\n

More:\u00a0Understanding The En Bloc Process (August 2018)
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Fewer en bloc transactions expected for the rest of 2018<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There was about $10.5 billion worth of en bloc deals in the first half of...<\/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-97824","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-prO","jetpack-related-posts":[{"id":95997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-expected-to-slow-down-in-second-half\/","url_meta":{"origin":97824,"position":0},"title":"Residential investment sales expected to slow down in second half","date":"August 14, 2018","format":false,"excerpt":"\r Overall real estate investment sales in Singapore rose 11 percent quarter-on-quarter and 19 percent year-on-year to $12.2 billion in Q2 2018, driven mainly by the residential sector, which accounted for 67 percent of the overall transactions, according to a new report from Colliers International. The largest transaction was the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99790,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-decimated-en-bloc-sales-market\/","url_meta":{"origin":97824,"position":1},"title":"Property cooling measures decimated en bloc sales market","date":"October 11, 2018","format":false,"excerpt":"\r Two en bloc redevelopment sales worth $353 million were completed in the third quarter, way lower than the $3.8 billion registered during the previous quarter, data shows.\u00a0 Singapore\u2019s latest round of property cooling measures proved effective in cooling its red-hot collective sales market. In fact, only two en bloc\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93029,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-investment-sales-volume-up-11-4-in-q2\/","url_meta":{"origin":97824,"position":2},"title":"Property investment sales volume up 11.4% in Q2","date":"July 3, 2018","format":false,"excerpt":"\r The en bloc market continues to dominate property investment sales in Singapore. Driven by en bloc residential transactions, Singapore\u2019s investment sales market extended its robust performance in the second quarter of 2018, with preliminary investment volume up 11.4 percent year-on-year to $10.308 billion, according to a CBRE report. This\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95641,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sales-success-rate-down-despite-increased-activity\/","url_meta":{"origin":97824,"position":3},"title":"Collective sales success rate down despite increased activity","date":"August 8, 2018","format":false,"excerpt":"\r Property developers in Singapore have become more selective with their acquisitions. Despite the increased activity in the collective sales market, the success rate for en bloc sales has fallen significantly compared to 2016 and 2017 levels, reported Singapore Business Review citing Savills Asia. This comes as developers have become\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102854,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/forget-about-billion-dollar-en-bloc-sales-say-experts\/","url_meta":{"origin":97824,"position":4},"title":"Forget about billion-dollar en bloc sales, say experts","date":"January 10, 2019","format":false,"excerpt":"\r Experts feel that developers are no longer land hungry and are more concerned about selling existing projects. Real estate experts believe that en bloc residential sites in Singapore costing at least $1 billion are unlikely to find a willing buyer amidst the new market situation, reported Bloomberg. \u201cBillion-dollar en\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100494,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-plunge-63-in-q3\/","url_meta":{"origin":97824,"position":5},"title":"Residential investment sales plunge 63% in Q3","date":"October 25, 2018","format":false,"excerpt":"\r Investment sales in the residential sector plunged to $2.2 billion due to a lackluster en bloc market. Overall property investment sales in Singapore declined from nearly $10 billion in the previous quarter to $6.5 billion in Q3 2018 following the introduction of new property cooling measures in July, according\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\/97824"}],"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=97824"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/97824\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=97824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=97824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=97824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}