Newbie
In my knowledge there are already 4 collective sale of residential areas this month.
1. Harbor view (17 April 2012 )
2. Green lodge ( 19 April 2012 )
3. Thomson view
4. Kmaman View (25 April 2012)
What is driving this increasing trend of collective sale.
Will it have significant impact on housing prices?
Cooling measure?
Newbie
Tender does not mean go through ...
Nothing to be concerned about...
Originally Posted by FilthyRich
Newbie
I remembered a period of time where en block was really rampant, maybe a few years back? the same trend happening again.
tweet @condoexchange
It just means these condo has come of age. And the market conditions warrant a try. Nothing to be alarmed about...
Junior
Collective sales are ongoing all the time.
Newbie
Another one:
Novena Ville, a 43-unit mixed-use development along Thomson Road, has been put up for en-bloc sale.
Its marketing agent Credo Real Estate says it is expected to be hotly contested as it has the potential to accommodate shops on the ground floor.
Credo adds that the sellers are expecting offers in the region of S$125 million to S$135 million.
The freehold site has an area of 51,092 square feet and with a Gross Plot Ratio (GPR) of 1.4 and an allowable height of up to four storeys.
Depending on the quantum of commercial and residential GFA proposed, Credo says the prices translate to land rates of about S$1,748 to S$1,887 psf/pr for redevelopment up to a GPR of 1.4.
If the extra 10 per cent allowance for the balcony space of the residential component is included, the land rates will be reduced to the range of S$1,626 to S$1,756 psf/pr, as no development charge is payable for redevelopment of the site.
Tan Hong Boon, deputy managing director at Credo Real Estate said: "This rare mixed-use site may be developed into a residential and retail project that has been gaining popularity of late. In recent months, shops at the first level of newly launched projects located in the suburbs such as East Village were reported to have breached the S$5,000 psf mark."
The tender for Novena Ville closes at 2.30pm on 24 May.
Office Boy
I beg to differ that this is not a concern.
I believe en bloc sales is the beginning of price movements upwards.
The previous en bloc fever that went on for 1-2 years results in sharp increase in property prices. Dont think I need to explain the mechanics here how en bloc feeds price appreciation.
So, while I agree that many en bloc seeking buyers is NOT a concern, if these plots gets purchased, then we cannot ignore this trend.
Developers replenishing land banks are higher prices is an indication of their confidence in the market.
Just my 1.35 cents of opinion.
DKSG
Just my 2 cent worth..
Newbie
Does it mean that there is a possibility of a sudden boom of property prices even with all the cooling measures implemented recently?
tweet @condoexchange
Definitely. The demand is just astounding. First you have Bedok Residences. Then Sky Habitat. Then Katong Regency. WHAT NEXT???
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