"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
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There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

10% profit mythbuster

I have been following the Waterfront Collection closely here.

They bought out the ex-HUDC for $241 psf ppr (including a DP/DC of $102m) and the media reported their break-even price would be around $450 psf.

Based on caveats lodged*;  about 55% of the total GFA has been sold to date.

They have 45% left to make it mega-profitable - and the HUDC owners who gave away their land have downgraded to HDB with their miserable 'premium'.

Premium? More like a booby prize. They 'jumped off a cliff' as a good Minister once told me about majority owners in general who undersell their estates. They were suckered in by the fallacious argument of individual units getting a premium above the going market rate.

That is why Tampines Courters in round 2 need to see not only the bare valuation report (which can be a fiddled, subjective document high on words and low on detail)  but the actual business proposal as well. We need to see the Residual Land Value of our estate - the figures shown to the developers.

No marketing agency would offer their services for 2 years to sell the estate on a no-sale-no-fee basis if they had not already worked out how profitable it would be to developers. They are not babes in the wood and if they try to bluff  owners/sale committee by saying this RLV is done at a later stage then they are bold-faced liars.

Lets see what the Marketing Agents lined up on the 16th have to say for themselves ...

*lodging caveats is voluntary, and does not reflect the full sale volume. With a sold out project, some caveats will remain outstanding.   


  1. Yes, valuation is just a guideline. Its more fact based rather than market research based, relying more on historical pass transactions rather than looking at the hidden value potential of the property.

    We need real professional marketing agents' opinions who have the experience and the latest update of the market to give us their professional opinions with justification.

    We don't just want them to give us their RP proposal based on valuation report but rather their own detail research report to justify their proposal. If based on valuation report or caveat price to price their property, why would owners need agents to sell for them ?

  2. hi everyone, marketing agents will provide their valuation and marketing strategy as standard... no worries.

  3. An EOGM must be convened to approve all the terms and conditions of the CSA. After the property consultants and solicitor have presented their proposals, we will get to question them before we give the endorsement. It is we who decide NOT the property consultants and solicitors. If there are disagreement between us, we can ask for a quick vote by show of hands.Please keep us posted of the Waterfront prices. When it hits 1200psf, our RP of $1.7m looks off-side.

  4. It's the standard that is worrying! Standard lies repeated ad nauseum in every en blocked estate.

    I heard yesterday the Strata Title Board is struggling with a huge backlog of estates objecting to their sales from 2008 onwards. No wonder the new rules had to change the STB to mediation - they just cannot cope with the aftermath of 'standard marketing stratagies'!

    Re: waterfront prices
    I have downloaded the recent transactions and will be updating my data soon. Waterfront Isle is making a killing for the developers.

  5. "No marketing agents wou;d offer their services.... if they had not already worked out how profitable it would be for developers..."

    Tell that to Credo who was the MA for the failed Laguana Park and the recent Tulip Gardens enbloc.

    The jury is still out for Pine Grove wo have not launched despite hitting the 80% a few month ago.

    So there... you win some, you lose some...
    It all depends on how you price yourself.

    Move on...

  6. 'is struggling with hugr backlog from 2008'...
    Not sure where u got your sources but all 2008 backlog have been cleared and I do not see any cases brought to high court last year.

    'Standard Marketing strategirs'?

    I do not see any cases going to high court.

    What is your point?

  7. This particular source has never been wrong and if he/she says there's a backlog then I have no doubt that there is. What goes on behind the scenes doesn't always reach the public eye. Very few STB objections go as far as the High Court or even make it into the papers. TC was case no.2 in 2008... and we didn't get finished until July, and that was only by special order of the High Court to rush before the expiry of the S&P.

    By standard marketing practices I mean the dubious and downright devious methods employed by these 'professionals', especially at the closing stages of signature collection. There will be plenty of time later to talk about these strategies when signature collection starts in the estate.