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."
Drop Down MenusCSS Drop Down MenuPure CSS Dropdown Menu
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.

Good grief!

Around 42.14% of SPs have signed the CSA

Do 42.14% really want to downgrade to a HDB or a new shoebox unit? Do they really want to hand the developer all the common property for free? Do they realise that new units are going for $1200 psf and that they are being offered half that amount? 

This is not replacement cost - this is enforced downgrading.


I am getting scared
My enforced choice of future home will be:



I see the old "depreciating asset" and "infrastructure problems" are rearing their heads again (see comments below). Add to that the 'high maintenance fee" and you have the 3 cornerstones of every pro-enbloc argument since the days when the Enbloc King roamed our corridors. 

8 comments:

  1. Anonymous20 July, 2016

    Let's bear in mind that Tampines Court is NOT freehold, certainly NOT in a prime location and an aging estate. Maintenance costs will go up over time. The Reserve Price is realistic given the current and foreseeable market conditions.

    ReplyDelete
  2. No intention of accepting this insulting offer. Might look attractive to property speculators who want to cash in as rental yields fall but if it's your home then only a fool would take this deal

    ReplyDelete
    Replies
    1. Anonymous27 July, 2016

      Do consider retirees and others who have no source of income except to monitise their units or rely on this enbloc. Those who oppose have always oppose for every round and waiting for that "$2M++ windfall" which most likely would not happen anytime soon. We are sitting on a "depreciating asset" with many infrastructure problems requiring big bucks to fix in the coming years. Think of that!

      Delete
    2. Do consider younger couples who do not wish to 'retire' just yet and do not want to monitise their unit and downgrade to a less valuable property - forcing them to cash in their nest egg early. Especially when the 'retirees' do not do their math and say ludicrous things like " if I get $2m for my unit I will give $800k to the MA" (EGM3). There are many sides to this particular coin - I for one did not buy my unit so that retirees could sell it at their convenience.

      Delete
  3. Anonymous25 July, 2016

    Please I urge everyone to not attempt to derail the enbloc sale for your personal, unjustified reasons. Look at the offer rationally, then decide for yourselves.

    ReplyDelete
    Replies
    1. Anonymous30 July, 2016

      Looking at the offer rationally I can conclude that it's a joke. To those who want to make a quick buck it's an attractive offer.
      However, TC is my home and I'd like to stay here.

      With the paltry sum on offer where can I find a 1700SqFt apartment with all the amenities that are on offer here (Wet market, NTUC, provision shop, doctors, dentists, walking distance to the several malls and two MRT’s, the relaxing greenery in our estate etc etc)?

      Traditionally an en-bloc means that you can either move to a similar apartment with everything you had before or upgrade AND have money left over, this is NOT what is on offer here.
      With my en-bloc proceeds I can move to a 1000SqFt apartment and have NOTHING left over, how does that make sense? That’s right, it doesn’t.

      As for personal, unjustified reasons, of course it’s personal, it’s my and my familys life that you are asking to be uprooted and thrown into disarray, it doesn’t get more personal than that and I feel wholly justified in making my concerns known.

      The sharks are circling but I have no intention of throwing my future into the pool for them to feast on.

      Delete
  4. Anonymous30 July, 2016

    The enbloc is derailed by those who set the dismal RP.For Enbloc schd enrich residents,NOT Developers at the expense of residents .Much older HUDC are still standing pretty and commanding HIGHER resale price than this enbloc price! Pathetic!

    ReplyDelete
  5. Anonymous31 July, 2016

    Personal unjustified reasons for not wanting to sign ? It's our homes that the people who want to sell enbloc want to take away from us. Who is being unreasonable? Those who want to keep their homes or those who want to force others to sell their homes so that they can make money? You want to sell your flat by all means do so on your own don't pull us into your selfish dream.

    ReplyDelete