Collective or en-bloc property sales in Singapore have come to a standstill and the market is unlikely to recover unless sellers lower their price expectations and stop aiming for huge windfalls, real estate services firm Colliers International said on Friday (Aug 22). This is because government policy measures to curtail speculative real estate activity and to foster financial prudence have taken much...
Enbloc Market
The en bloc market has slowed significantly this year as developers turned cautious following the government's cooling measures and loan curbs. The value of en bloc transactions fell to S$1.3 billion so far this year, down from S$1.4 billion in 2012 and S$3.2 billion in 2011, according to property consultant Jones Lang LaSalle. Eunosville is up for en bloc sale for the second time, after its first...
Many property owners have been asking us: Is it time to sell en bloc? Are developers ready to buy? Should we start the process now, or wait for the market to pick up further? Are the new en bloc laws too onerous? In 2007, there were more than 100 such deals, but 2008 saw fewer than 10, and there was just one last year. So what is in store for 2010? We certainly do not have the answers to all of these...