Leedon 2 - under valued?

[TOP]

Any one can share their views on this property situated at the junction of Holland Road and Holland Avenue. 100M from Holland V MRT.

Two ads on propertyguru asking for S$1800 to S$2000 psf but the latest caveat is around S$1370psf in April which is slightly higher than their launch price in 1997 but considered cheap for its location.

The plot ratio is 1.4 but I am sure it is over built with 6 units each floor up to 12 storey on tiny pc of land. Dont know why URA allowed this to happen. How to enblock in this case?

[sh]

i believe it was a retrofit of a much older development before the current planning guidelines. No hope for enbloc....

[land118]

Personally if buy just for investment waiting for enbloc at sellers' price of $1800-2k psf..., little or no upside at this moment. Projects that have launched and construction in progress like FH Holland Residence are around $2kpsf already...and that's new. If sellers' want to sell at about the price of new upcoming condos, then why take risk when little upside. Unless now can get $1400-1500psf, then worth the risk. But buyers also want to dream about high price, so deadlock. Probably explained why not much activity recently. All sellers holding out while buyers are looking for good deals