"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.

Rio Casa (Ex-HUDC Hougang)

Screenshot taken from ST

Original data found on-line
Reserve price said to be about S$450m; it will cost another S$200m to top up the lease and intensify the plot ratio (Straits Times 15 Mar 2017)

This works out about $565 psfppr by my calculation based on the original site area (found on-line) 

From Anonymous26 March, 2017
From BT: $61M top up lease
$141M intensify plot ratio to 2.8
Site area: 396231 sqft
works out to: $590 psfppr.

From authoritive sources, Rio Casa original site area reduced to present value when adjacent condo 'Evergreen Park' was developed and needed access road to HDB car park.

With the smaller site area my spreadsheet now looks like:

The smaller land area now pushes the psfppr to $588 based on the figures given. 

The SC must have done a reasonable stab at a RLV to get this price. 

The rule of thumb for most new developments is that the psf of the new development is around twice the psfppr paid for the site. So, the potential new condo will be priced at $1180 psf and above. In 5 years time, that is not an unreasonable assumption to make. 


  1. Nice location!

  2. It's the fundamental duty of MA to get the highest possible price for sellers as they are getting commission ftom SPs and not developers. Our MA only interested to press our price down. We should be able get higher % now if they would have started off with the current RP instead of now. The market looks positve and the current revised RP is no longer attractive to SPs. Serve them right if this enbloc failed (most likely so) & they lose their commission !

  3. Collective Sale Update: Ex HUDC
    Rio Casa achieved 80% within 3 weeks. Est $1.6M payout.
    Eunosville SP can expect >$2M if sold.
    Raintree Gardens STB approved sale. $1.89M payout.
    Shunfu Pending decision of Court of Appeal.
    Tampines Court; Awaiting Strata Roll verification. SC hopelessly optimistic.

  4. Eunosville, 376713 sq ft, 330 units up for sale.
    Asking between $643M-$653M. Owners can expect >$1.95M if sold.
    Marketing Agent: Orange Tee.

  5. Update:
    Eunosville asking price ~1.96M per unit
    Shunfu Ville judgement reserved, to be delivered within a month