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Thread: En bloc fever back in Singapore, with 7 collective sale transactions this year

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    Default En bloc fever back in Singapore, with 7 collective sale transactions this year

    En bloc fever back in Singapore, with 7 collective sale transactions this year

    JUL 31, 2017

    Wong Siew Ying


    SINGAPORE - It's a fever that last swept Singapore in 2011 before property cooling measures introduced in 2013 cooled it.

    Now, it looks like the collective-sale fever has hit again, with deals flowing fast and thick in the past two months.

    Six residential developments and an industrial complex have already been sold en bloc - far exceeding the three deals done in all of 2016.

    The seven collective-sale transactions this year total S$2.5 billion in value, more than double last year's S$1 billion.

    What's driving the resurgence in collective sales? Rising optimism in the property market, still-low interest rates, brisk new home sales and the limited supply of land for development.

    Analysts expect more such deals to come as home owners look to cash in on the fever.

    Properties already put up for en bloc tender and awaiting their outcome include Dunearn Court condominiun off Dunearn Road, Villa D'Este condominium in Dalvey Road and City Plaza in Paya Lebar.

    But there are over 30 other properties reportedly at earlier stages of the collective-sale process. They include former HUDC estates like Ivory Heights, Pine Grove, Laguna Park and Chancery Court; privatised government projects Lagoon View and Normanton Park; and 99-year leasehold condominiums Chuan Park, Thomson View and Pearl Bank Apartments.

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    This time it appears the big players are foreign Developers , Chinese in particular. They have been outbidding our locals and appear to have huge purses as well as huge appetites for land. Hence I think even the bigger HUDC plots may be palatable. In a few days time we will hear the outcome of Tampines Court's third attempt. They may just be third time lucky. But I wonder how long this party will go on. Any guesses?

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    Quote Originally Posted by Tulip09 View Post
    This time it appears the big players are foreign Developers , Chinese in particular. They have been outbidding our locals and appear to have huge purses as well as huge appetites for land. Hence I think even the bigger HUDC plots may be palatable. In a few days time we will hear the outcome of Tampines Court's third attempt. They may just be third time lucky. But I wonder how long this party will go on. Any guesses?
    Sounds like the enbloc fever of 2006 and 2007.

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    Quote Originally Posted by Tulip09 View Post
    This time it appears the big players are foreign Developers , Chinese in particular. They have been outbidding our locals and appear to have huge purses as well as huge appetites for land. Hence I think even the bigger HUDC plots may be palatable. In a few days time we will hear the outcome of Tampines Court's third attempt. They may just be third time lucky. But I wonder how long this party will go on. Any guesses?
    As long as the World allow money printing.

    Guess what money are they using.

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    We might be in for a few years of upside. http://www.todayonline.com/business/...velopers-ahead . Mainlanders need a new place to park their funds.

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    The geopolitical uncertainty around NK/SK/China/Japan will persuade many ultra rich North Asians to explore alternative plans for their families/kids. Singapore is always an attractive option.

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    Quote Originally Posted by new2mondrian View Post
    The geopolitical uncertainty around NK/SK/China/Japan will persuade many ultra rich North Asians to explore alternative plans for their families/kids. Singapore is always an attractive option.
    back to basics, property is a hard asset in land scarce singapore, and compared to other regional countries (for eg Up North) we have a modern global economy, skilled migratory workforce allied with strong business friendly state policies, first world infra and no lacking of tenants. I have always been sanguine on the long term prospects of property here.
    Last edited by tonymontana; 15-08-17 at 09:04.

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