More than 85 per cent of the en bloc transactions for 2005 and 2006 were located in district 1 (Marina Bay), the prime districts of 9,10 and 11, as well as district 15 (Katong), according to a report by Savills. Experts agree as property developers continue to build and sell projects, they need to acquire new land to continue the business cycle. With land being a premium in the prime districts, the...
Enbloc
CapitaLand has acquired Silver Tower on Orchard Road in a collective sale for S$161m. It plans to build a luxurious 20-storey condominium with 100 apartments on the freehold site.CapitaLand's purchase works out to S$1,107 per square foot per plot ratio.This includes an estimated development charge of S$16.5m. Silver Tower sits on a 57,200 square feet area with a gross plot ratio of 2.8. There are...
The common methods used are: Share value: the apportionment for each unit is proportionate to a unit's share value in relation to the total share value for the whole apartment Average of the strata floor area and share value: the apportionment is according to the unit's strata floor area in relation to the total strata floor area. The figures derived from the share value method and floor area method are...
What is Enbloc Sale? Enbloc = in a lump; as a whole Thus, an Enbloc Sale basically means: all owners of separate units in an apartment, condominium or even an office building, coming together to collectively sell their properties to a developer for comprehensive redevelopment. Why Enbloc Sale? allows owners to sell their properties for at a higher price than they could fetch by selling individually...