Hot on the heels of the Laguna Park proposed en bloc sale last week, its neighbour Lagoon View is now looking to privatise the entire estate which could pave the way for a possible collective sale as well. At a special general meeting yesterday, the Lagoon View Owners' Association, the management committee behind the plan, has obtained residents' approval to buy back the land within the 30-year-old estate...
Collective Sales
Last week, the Government proposed changes to the Land Titles (Strata) Act, making the process of selling an estate enbloc stricter but also fairer than before. The changes are expected to take effect next month. This came after the Ministry of Law received further feedback and suggestions on the Act. These range from requesting more procedural controls to loosening the regulations, as well as proposals...
Residents at Laguna Park condominium in Marine Parade are giving the en bloc sale process a second try. A new 10-member sales committee comprising eight new members has been set up. At an extraordinary general meeting held on Sunday, some residents voiced confidence that a sale can be completed in three to six months, while others reportedly raised concerns about the recent changes in the Land Titles...
While the market mulls over the impact that rule changes will have on collective sales, the spotlight has fallen on developers sitting on prime sites acquired during the previous en bloc boom in 2006-2007. Click here to find out more! If the proposed changes make it tougher for prime freehold residential sites to make their way to the market, that will be good news to developers who are already holding...
Analysts expect more en bloc sales activity from the city fringes and East Coast areas as developers cater to a growing mid-market segment. They were responding to proposals tabled in Parliament on Monday to smooth out the collective sales process. The new rules also seek to address the role of the Strata Titles Board and balance the interest of property owners. Collective sales have bounced back this...
Analysts expect more en bloc sales activity from the city fringes and East Coast areas as developers cater to a growing mid-market segment. They were responding to proposals tabled in Parliament on Monday to smooth out the collective sales process. The new rules also seek to address the role of the Strata Titles Board and balance the interest of property owners. Collective sales have bounced back this...
Market watchers have welcomed proposed changes to the en bloc sale regulations tabled in Parliament on Monday. They said the move is timely and could help stabilise property prices. Farrer Court was among 111 estates sold at the peak of the en bloc market in 2007. This year, there are only four deals so far and analysts expect the market to pick up as developers replenish their land bank. The four en...
The government has proposed several changes to provide more clarity to the en bloc sales process. An amendment bill to the Land Titles (Strata) Act was tabled in Parliament on Monday. It seeks to address the role of the Strata Titles Board, balance the interest of property owners and streamline the collective sale process. The changes are expected to take effect in June. A key revision that's been...
MINISTRY of Law's rebuttal ("No conflict of interest", April 23) attempts to dismiss lightly Ms Florence Tan's comments in an earlier Voices letter of a perceived conflict of interest when Collective Sale Committee (CSC) members are also on a private estate's management committee (MC). It is surprising, and not a little disappointing, for an official reply published for public information to be so riddled...
MS Florence Tan ('Keep members of MC, sales committee distinct', BT, April 15) suggests that members of management committees (MC) be distinct from members of en bloc sale committees (SC). Ms Tan is of the view that there will be a conflict of interest when members of the MC, whose main role is to oversee maintenance of the estate, are also tasked with the responsibility for an en bloc sale. Separating...