WHAT HAPPENED TO SPANISH VILLAGE ENBLOCK? :confused:
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WHAT HAPPENED TO SPANISH VILLAGE ENBLOCK? :confused:
Have a guess........Quote:
Originally Posted by MGREEN
No idea leh. :beats-me-man:Quote:
Originally Posted by EBD
Any meetings for enblock application in 2010?
Thanks
Can someone share the land area and the number of owners in Spanish village pls?
From VirtualHomes.Sg website.
Quote:
Originally Posted by Latio
I heard of committee being formed. Will the last en bloc laws affect
the possible en bloc of Spanish Village? It is such a good location, why no takers? Will they try with lower price? Or are they waiting for something?
The size and success of nearby Farrer Court enbloc, and the fact that development is delayed, may have a negative effect on Spanish Village?
Wrong timing... Farrar Court is lurking there.. Mega BIG project ....
So... Tis one would have to take a backseat.. No Hurry ! :sleep:
Not that good anymore with the persistent traffic jam right along Farrer Road during rush hours + the mega Farrer Court project launch of 1xxx units! (too big oversupply).
Quote:
Originally Posted by MGREEN
Leedon Hgt is coming as well
Yes I cant help but agree to your comment.However,time is of the essence and Spanish Village enjoys a freehold status,thus this factor is pivotal for its ownership in land-scarce Singapore.Furthermore,I doubt that the residents are in a hurry to sell off their apartments as the future MRT is only right at their doorsteps,not to mention a considerable amount of them bought it at a low price decades ago.This could also be the reason whythe previous enbloc attempt failed as residents preferred not to see this as a opportunity to sell of their "golden goose".Spanish Village being a low density development,is very spacious making it a rare gem,contrasting those new condos which are very crampped.Moreover, prestigous institutions like Nanyang Primary,Chinese High,RGPS,NJC,HCJC are located near Spanish Village.Access to Orchard Road and Botanical Gardens takes a mere 5mins drive.
In other words, don't expect enbloc anytime soon as time is NOT of the essence.Quote:
Originally Posted by paul phua
i get the impression that the owners of spanish village are rich enough not to bother with any enbloc where they trade their spacious interiors for a modern pigeon hole.
Spanish Village attempted in September 2007 right?
So have to wait at least two years.
Wow. Things are changing.
How are things for the neighbours of Spanish Village, any en block around there?
new enbloc rules took effect only 2 mths ago, it is not retroactive, so spanish village should be spared.Quote:
Originally Posted by MGREEN
with farrer court still no news (selling psf not even known), i think developers may not be in any hurry for this area
i actually think the next enbloc potential is not Spanish villageQuote:
Originally Posted by august
but one in Balmoral
I am quite surprised that Spanish Village hasn't gone enbloc, great land, great location. Maybe price was too high.
too close to the road ?Quote:
Originally Posted by MGREEN
too close to the Farrer MRT station ?
TULIP Garden has been put up for collective sale by property consultant Credo Real Estate for a minimum price of $650m.
If the sale goes through, it will make the 164-unit freehold private condominium the third largest en block sale in Singapore, after Farrer Court ($1.34b) and Leedon Heights ($835m).
Tulip Garden has a land area of 316,708 sq ft. That works out to about $3.14m to $5.45m for its apartment owners.
For interested property developers, the effective land cost, after factoring some $20.5m in development charge, is $1,203 psf per plot ratio.
According to Mr Karamjit Singh, Managing Director of Credo Real Estate, the developer may 'break-even at about $1,800 psf or so.'
Tulip Garden is located at the corner of Holland Road and Farrer Road in the prime district 10 area.
The whole area is getting a facelift, it will be very interesting to watch.
Tulip Gardens should be successful this time,
so should Spanish Village if they attempt.
Price may be too high for anyone to try.
PrQuote:
Originally Posted by MGREEN
Chanced upon this thread as is doing ppty hunting now. Like its proximity to train station, good decent floor area and competitive psf given its FH status. Anyone of you thinks there is still enbloc potential after its failed bid in 2007?
None.
Why?
Because of Government's policy........
Easier and faster to buy GLS land and sell fast
than to enbloc old properties' land, which take years and end up still must sell within 5 years all units.........:mushroom:
Quote:
Originally Posted by dreamer888
not if it is enbloc by FEO...Quote:
Originally Posted by teddybear
they are not subjected to that 5yr rule
FEO still owns a few units there which they keep for rental income..
it makes sense for FEO to enbloc ....
firstly they have units there which they can use to vote ...
they are still looking out for FH land to own ... but launch as 103 yrs ....
Seems like that policy of government newly introduced only benefit FEO while penalising most other developers? Why is the policy so lobe-sided???????
And why is FEO even allowed to sell properties as 103 years leasehold when the land is Freehold?????
and government is not doing anything????
Anyway, to think about it, they are copying government isn't it? Buy FH and sell as 99 (or 103) years LH? The only difference is government last time force-buy people's land at significantly below market price (frozen at 1967 price even when they acquire in 198x) while FEO either bought at market price or is land they have been holding for donkey years? But why Government didn't force-buy their land in the name of "national development" (even though much of these land are still vacant until now) when most other individuals kenna force-sell but not them???
Quote:
Originally Posted by proud owner
That 5 yr rule applies to FOREIGN developers.Quote:
Originally Posted by teddybear
Since FEO is not listed, hence no foreign 'ownership'
Remember SC Global ?
They WERE listed. Anybody, including foreigners could have and must have bought their shares, even if it was just 1 LOT owned by a foreigner, the rule then applied to SC...
anyone can own a FH land and sell it LH..
if you own a FH landed house, you can sell it slightly cheaper at 99 yr lease...
99 yrs later, your children or grand children will own that land again...
thats what FEO is doing...
In time to come, there will be no more enbloc ...
imagine, after 99 yrs... who is going to enbloc you ? when FEO owns the land... do you think other developer will enbloc a FEO condo, PAY FEO to Top up the lease back to 99 yr ?
FEO becomes a mini Spore govt owning lands .
FEO dont even need to enbloc... automatically goes back to them ...
while other 99 LH condo, the land goes back to GOVT.
Quote:
Originally Posted by proud owner
Your view sounds very logical. I know FEO is well-known for its rich landbank in Singapore. Specifically to Spanish Village, what are your thoughts around the unsuccessful en-bloc bid in 2007? Almost a decade has passed since then, with the ppty market still in doldrums, what is your take on the renewed interest in enbloc activity? Do you think it's gonna return once the market starts picking up again?