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Thread: Condo that tried but NEVER got enbloc...

  1. #11

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    Tulip Garden is the most jialat. They managed to en-bloc. Then the buyer backed out. Further attempts to en-bloc since then have been unsuccessful. Not helped that D'Leedon next door isn't selling well. Spanish Village also tried to en-bloc but this round didn't get the required % of signatures. Looks like the owners there would prefer to hold on.

  2. #12
    Join Date
    Jan 2011
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    In the end Tulip Garden owners got quite a good deal... Wait for ten years but price went up from 2.5m to 4.4m payout for the smallest unit

  3. #13
    Join Date
    Oct 2012
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    Shiok.

  4. #14

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    Quote Originally Posted by CCR View Post
    In the end Tulip Garden owners got quite a good deal... Wait for ten years but price went up from 2.5m to 4.4m payout for the smallest unit
    actually, they also received some payout from the developer who tried to en bloc them last time. some deposit. "double make".

  5. #15

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    Indeed....unless one does not buy the Singapore Story, ppty will still be a sound investment choice. And for investors who were renting out their units, they were still collecting rental after their earlier failed attempts.

    Actually, seeing some condos achieve success after 3/4 attempts gives me even more confidence in my older properties with enbloc potential.

  6. #16

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    I am a living example of 2 repeated en-blocs attempts (lacking of between 1 to 4 signatures). At some point, those who voted for (like us) sort of just continued staying as we don't mind the big space. Just that everything else outside sucks. My lower floor neighbour asked for 5+mil in the resale market as he is in need of money has a whole new reason to sell quickly, en-bloc or not. Those will be the ones who will sweat.

    However, I would never say 'tried but never'. No one can tell what is ahead. Frankly, if my developments hits mid 30s in a few years, I cannot imagine the maintenance fees which we still have to stomach. That is a real bummer.

    2 cents,
    PropVestor

  7. #17
    Join Date
    Mar 2009
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    10,799

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    Courtesy of being freehold?

    Quote Originally Posted by CCR View Post
    In the end Tulip Garden owners got quite a good deal... Wait for ten years but price went up from 2.5m to 4.4m payout for the smallest unit

  8. #18

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    Quote Originally Posted by teddybear View Post
    Courtesy of being freehold?
    99 also still got chance but it may be the last chance for some.

  9. #19

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    Quote Originally Posted by bargain hunter View Post
    99 also still got chance but it may be the last chance for some.
    99 there will be chance as long as government allow top up of lease.

  10. #20
    Join Date
    Jan 2011
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    1,636

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    But if tulip was leasehold I think the enbloc price would not be so high coz ten-year older lease top up more...

    Actually Teddy bear is not wrong to say that the difference is the minimum opportunity costs between FH and LH is the differential premium that is use to top up the lease to 99 years... This premium could have been shared amongst the owners, and still have not taken into account the premium developers tag on to FH land when they bid...

    But for LH properties shoukd enbloc asap when the cycle comes coz next cycle is 10 years later

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