Disclaimer






"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.

$1.2 million here we come


Recent caveat lodged: $ 1.16 million. (And the lucky seller is none other than an ex-SC member who made a cool 100% profit :)



I recently had a conversation with someone who was contemplating buying a unit in Loyang Valley  - an estate older than ours (we have 101yr lease) and about 27yrs into their 99yr lease. There is a common misconception about the 30yr mark and how the banks 'won't lend to potential buyers after the 30  yr mark, so you had better go en bloc'.

Many people believe this 30yrs refers to when the estate is 30 yrs old. This is incorrect. The difficulty arises only when the estate has only 35yrs remaining on the lease (ie, the estate is 65yrs old).   

So the aging estate/bank difficulty scare tactic is bogus. We have many happy years of reselling ahead of us. The upward trajectory in resale prices in the present bullish market has therefore every prospect of continuing.


4 comments:

  1. The raising of resale prices despite the Euro Crisis make TC enbloc less attractive to the owners.

    With the proposed RP, after deducting the lawyer, agent and stamp duty fees for both TC and new house to be purchased, there is no enough premium left for the owners.

    We are in the same situation as 2007 enbloc but luckily only 30% signed the CSA as at now.

    We may be able to sell our unit at the same price (or close to) as the RP in 2013 if the property prices continue to raise in mass market.

    This is the issue which current and 2007 SC have failed to address and resolve for TC owners.

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  2. The $1.16 million is only a one-hit wonder. Nothin to shout about. The rest of the transactions after this spike are hovering around $1.05. May go south after Dec 2012 expiry date

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  3. @ The $1.16 million...
    If you want to sell, since en-bloc is not going to happen, you better sell before the Dec 2012 expiry date.
    $1.16 million is certainly nothing to shout about because my home is worth more...

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  4. Neptune Court is the oldest HUDC,(the buildings are over 40 years old) despite 99 yr lease starting in 1974) still selling at unbelievably high prices. The estate is older than the 35 yr mark. TC and all the others are comparatively new.

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