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Thread: En Bloc 2021

  1. #6
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    Default Re: En Bloc 2021

    REMISSION OF ABSD FOR DEVELOPERS

    In another example, developers are required to complete the development and sell all residential units within five years from the date of acquisition for development sites of more than four units, and within three years for development sites of four or less units, in order to obtain remission of ABSD.

    This creates a widely disparate imbalance in what is expected of developers who are developing land parcels of differing sizes, allowable built-up areas and total number of units.

    The time needed to sell five units is grossly different from the reasonable time it would take to sell projects of 100 units, and then again with those of 200, 500, and more than 1,000 units.

    Moreover, there will be times of brisk sales in years of economic prosperity and there will be periods of lacklustre sales when the economy is not doing well - not to mention black-swan events such as the ongoing Covid-19 pandemic.

    Perhaps a graduated schedule of time limits in years could be prescribed based on the total number of units. For example, projects of up to 600 units could be given up to five years to build and sell all units. And for every additional 200 units, an extension of another year could be added, subject to a cap of ten years.

    Thus, the time limit for disposal is weighed against a quantifiable and measurable physical scale for a more balanced treatment.

    Would this not then be a fairer and more reasonably calibrated treatment in the application of ABSD, instead of wielding it as a blunt one-size-fits-all instrument for projects that comprise a mere five units to those that have more than 1,000, or even more than 2,000 units?
    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

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  2. #7
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    Default Re: En Bloc 2021

    ARE COLLECTIVE SALES POSSIBLE IN TODAY'S MARKET?

    With the many steps and requirements in a potential collective sale, as well as the time needed, is there a sweet spot where it would be possible for a collective sale to be successful in today's market?

    After all, in the current climate, many have been caught in the squall of the pandemic-led economic downturn, and developers and homeowners face many uncertainties that could waylay the possibility of any collective sale.

    Despite the Singapore economy being mired in the effects of the pandemic, the private residential market has shown resilient sales volume and pricing. Therefore, in the wake of Covid-19, it is just possible for collective sales to be successful.

    Smaller quantum collective sales consisting of a project potential of about 200 units, priced within S$200 million, could yet find willing buyers. Should existing homeowners and developers find a reasonable middle ground, both parties could benefit - against conventional thinking - in the prevailing uncertain economic conditions.
    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://wincondo.propnex.com/registe...RNMFJVSXlSVVZG

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  3. #8
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    Default Re: En Bloc 2021

    Freehold residential site The Bayron relaunched at $376 mil



    https://www.edgeprop.sg/property-new...unched-376-mil

    SINGAPORE (EDGEPROP) - A freehold residential redevelopment site in District 9 measuring 56,481 sq ft has been relaunched at a guide price of $376 million. Exclusively marketed by CBRE, the price remains the same as when it was launched for sale last year in September.
    The guide price of $376 million works out to a land price of around $2,377 per square foot per plot ratio (psf ppr). Taking into consideration the 7% bonus gross floor area allowed for balconies, the land price will be $2,287 psf ppr.
    Currently, the site holds dual addresses at 13 Devonshire Road and 49 Saint Thomas Walk. It accommodates a two-block condominium with 96 units, The Bayron, and has a total strata floor area of 112,300 sq ft. The development is on an elevated plot of land in a private residential enclave that enjoys 24m of frontage along Devonshire Road and 64m of frontage along Saint Thomas Walk. The property is in close proximity to Somerset MRT station and malls along the Orchard Road shopping belt.

    https://www.tracygoh.sg/2021/the-bay...loc-sale-2021/
    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://wincondo.propnex.com/registe...RNMFJVSXlSVVZG

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  4. #9
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    Default Re: En Bloc 2021

    https://www.straitstimes.com/busines...-en-bloc-again

    PUBLISHEDMAR 27, 2019, 5:00 AM SGT

    Iconic development Golden Mile Complex will today be launched for tender a second time after it closed its initial tender on its collective sale on Jan 30.

    Its reserve price remains unchanged at $800 million.

    Marketing agent Edmund Tie & Company declined to reveal details about the results of the first tender or when the collective sale agreement expires.

    The 718-unit property in Beach Road has a land area of about 1.3ha and is zoned for commercial use under the Urban Redevelopment Authority (URA) Master Plan 2014.

    The URA has earlier said that the development's landmark main building, known for its distinctive step terrace, will have to be retained.

    This caused concerns that the sale of a largely conserved building like Golden Mile Complex may be challenging, given the constraints developers could face.

    However, in a statement announcing the tender launch, Ms Swee Shou Fern, Edmund Tie & Company executive director of investment advisory, said: "In the past few months, we have heard many exciting and creative ideas from developers on the adaptive reuse of Golden Mile Complex."

    It may be developed as an integrated project with a total gross floor area of almost 86,000 sq m, which was URA's planning advice in response to Edmund Tie & Company's outline application submitted last August.

    Golden Mile Complex was completed in 1973 and has about 49 years left on its lease.

    DP Architects, the firm that designed Golden Mile Complex in the 1960s, is consultant architect for the collective sale site.

    Ms Chan Hui Min, the architecture firm's director, said in the statement: "It is possible to integrate the new development sensitively with the old so that the history of the building can enhance the sense of place and bring value to the whole development."

    With a guide price of $800 million, the 68 residential owners stand to get gross payouts of between $1.27 million and $6 million each, while the 418 shop units can fetch between $200,000 and $7 million each.

    Owners of the 227 office units stand to get between $360,000 and $3 million each.

    The differential premium and lease upgrading premium to intensify the land use and to top up the lease to 99 years respectively will depend on the developer's proposed land use mix.

    The tender exercise closes at 3pm on April 25.
    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://wincondo.propnex.com/registe...RNMFJVSXlSVVZG

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  5. #10
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    Default Re: En Bloc 2021

    Residents of leasehold properties sitting on freehold land face an extra poser in seeking a collective sale

    SINGAPORE Many homeowners of the 325-unit Spring Grove condominium are keen to put the prime Grange Road property up for collective sale.

    Besides a looming deadline to gather the requisite agreement of 80 percent of owners, their attempt to push for an en-bloc sale potentially faces another unusual hurdle.

    The District 10 plot sits on freehold land owned by the United States government but comes with a 99-year lease, and it is unclear how much any potential buyer will have to pay to top up the lease.

    Read more at https://www.todayonline.com/singapor...ing-collective

    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://wincondo.propnex.com/registe...RNMFJVSXlSVVZG

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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