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.

RIO CASA (Ex-HUDC) SOLD



I have no idea what is happening in the market - there is no doubt collective sales are back in favour and there are very hungry developers forming consortiums with deep pockets on the prowl.  I may be a fervent minority owner but even I can't deny that the market is hot at the moment.  Note, the last 3 HUDC collective sales have all been over $700 psf ppr
  • ShunfuVille - May 2016 - $747 psf ppr
  • Raintree Gardens - Oct 2016 - $797 psf ppr
  • Rio Casa - May 2017 - $706 psf ppr
I see in the Business Times article give a little more information:



Error fixed

You see, RLV's matter in this Game of Enblocs, where is ours?

My June 2016 Armchair RLV was $637 psf ppr  (RP: $952M) and it looks like it should be well within reach in the present crazed market. 

I have no further qualms about the RP for the moment - but will stay on the SC/MA's tail should the market go up any further.  One thing for sure - there is no going back from the present RP to a lower figure. Those who sign now have the power to hold the line. 




 EUNOSVILLE (ex-HUDC) enbloc tender closing on 31st May. 

14 comments:

  1. Anonymous26 May, 2017

    I think the sqm to sqft conversion for Rio casa in your Excel sheet is wrong.

    ReplyDelete
    Replies
    1. Phew! Thanks for that alert- I have amended the chart.

      Delete
  2. Anonymous26 May, 2017

    Let's all let bygone be bygone and focus in getting the 80% and the good money we all deserve to get. We must get this round through and not risk the golden opportunity. With the money we get, we can all start life afresh and surely able to get a better a replacement units than the one we are staying now. Divide we will fall Unit and we will win !

    ReplyDelete
  3. Anonymous26 May, 2017

    I think the SC is currently way too small and will need people with deep experience if we get past the 80% mark.

    I do not speak for all SPs, but I can safely say that all SPs will be better off if you would join the SC if it goes to the next stage - Not because you have been particularly kind to the SC/MA, but because if you are resigned to the fact that TC will go enbloc, why not join the Dark Side and make the effort count. It will also be an eye opener for you to see how the "Dark Side" works. And because as Luke said of his father, "I see good in him".

    ReplyDelete
    Replies
    1. Not a chance. Besides, no one can 'join' the sale committee without being elected at the EOGM.

      Delete
  4. Anonymous26 May, 2017

    No need to be so yaya papaya lah. At today's bulllish market. Money speaks loudest. Morever yr information is not all that accurate. If SPs don't want to come to yr blog, it's a dead zone & you can talk to yourself. If you welcome contributors let them speak what they want pro or anti enbloc so long as no vulgarity & baseless allegation. If you want to curb freedom of speech please close yr blog. TC facebook are much better than yours. At least it's more versatile and responsive. Not happy with what I said? Don't upload lah.

    ReplyDelete
  5. Anonymous26 May, 2017

    Garbage comments may be to you but not others. A demoractic person will listen to both side of the coins even though even though you feel it's garbage. No need to say for 'trial purpose' Just switch off for good. Your self centred and narrow minded thinking do more damage to the enbloc than good. I am speaking the truth and what I want even if u consider it as garbage !

    ReplyDelete
  6. Anonymous26 May, 2017

    I believe the main issue here is insufficient communication.

    ReplyDelete
  7. Anonymous26 May, 2017

    Rio Casa RP was based on an RLV done by Knight Frank. Deemed fair by SC, with strong support from SPs, they achieved 80% within 3 weeks. A record time.
    Among condos referenced was Kingsford Waterbay (0.4 km from Rio Casa as the crow flies, TOP 4Q 2018) Both are riverfront sites. Rio Casa located in a mature estate is slightly better off in terms of proximity to MRT, Town Center, neighbourhood shops and established schools (CHIJ)
    Strong buyer interest, site inspection soon after 80% breached even before tender opened. Offer price exceeded SC expectations.
    To what extent buyers assumption of a smooth, quick approval at the STB due keen support by SPs of Rio Casa a factor in developers interest or even in the generous offer price is hard to say.

    ReplyDelete
    Replies
    1. Anonymous26 May, 2017

      It just takes 1 SP to spoil the party, and the developer can't control that risk.

      Delete
  8. Re open your blog and move forward

    ReplyDelete
  9. Anonymous26 May, 2017

    I have been to the park connector opposite Rio Casa areas several times. Frankly, the "river" is just a wide canal. The distance to Hougang Mall/MRT is still quite a distance away. The land opposite is reserved for industrial park. It may not be an apple to apple comparison, but TC location is no way inferior to Rio Casa. Hence I believe the interest in TC will be as strong, if not stronger than Rio Casa. Good luck to all!

    ReplyDelete
  10. Anonymous27 May, 2017

    Imagine holding key to treasure but refused to unlock treasure even til death or give to children.

    As we get older, risk of big illness become larger , more cash in hand is always good. Do not regret when hit with cancer and regret then not unlocking great value in Tampines court !

    Cats cannot take care of you then !!!

    ReplyDelete
  11. Anonymous27 May, 2017

    For every opportunity we don’t seize, there’s a potential regret we do seize.

    I saw that trying something that felt scary might feel like a risk, but the equal and opposite risk was not trying that thing, never knowing if I might have loved doing it

    ReplyDelete