Japan also have. SG can do the same, although better to do it with cheap land and labour in Johore and Batam. Much better use of our CPF monies than letting some auntie play buy high sell low games ...
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good luck to all those leasehold private condo in future when your super high condo cannot be enbloc anymore...
- Thread starter kaninabuchaojibye
- Start date
Japan also have. SG can do the same, although better to do it with cheap land and labour in Johore and Batam. Much better use of our CPF monies than letting some auntie play buy high sell low games ...
shiok! many of the helpers, nurses, and assistants are young jap chiobu. must go.
You won't know what will happen in 30'to 40 years.
If no more enbloc value and no residue value, the owners has to sell it cheap at market value at that time.
Market value depends on many factors, I.e lease left, interest rate, mortgage value and the person who is able to take up the mortgage.
So it is really nothing
If no more enbloc value and no residue value, the owners has to sell it cheap at market value at that time.
Market value depends on many factors, I.e lease left, interest rate, mortgage value and the person who is able to take up the mortgage.
So it is really nothing
Progress must continue. So redevelopment or enbloc or what not is a good thing. As long as fair and proper compensation is given. Think on the flip side...a freehold condo etc is 40 yrs old the structure etc degrading and more and more upkeep and maintenance needs to be done...sell out and move on and got some profit...better than the whole building falls apart and cost to be borne by owners...not cheap horEven if one owns a freehold property, pap can tell you to fuck off. In short, every inch of land in Sinkieland belongs to the pap.
Freehold status can be changed
Many property buyers are attracted to the allure of a “forever” property, but freehold status isn’t permanent.
If the government decides to build a military base, or satellite dish, or run an MRT line right through the land where your house is sitting, it’s gone; freehold or no.
At best, you will receive compensation at market value. But don’t succumb to any notions of permanence; it’s all subject to Urban Redevelopment Authority’s (URA) masterplans.
Also, be aware that freehold property is prone to en-bloc sales; after 30 or 40 years, your neighbours might decide they’re sick of the scenery. Then your condo is sold off and you’re back to house hunting…
Well, this may great for the younger folks who will benefit from the cash in, but not too great if all you want is a stable home.
https://blog.moneysmart.sg/property/freehold-condo-property-disadvantage/
SLA serves notice of possession to 3 landed properties after owners fail to move out after deadline
1 of 5
Ng Jun Sen
Business Correspondent
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- Updated
Apr 25, 2017, 6:31 pm
SINGAPORE - Three freehold landed properties at Merpati Road were legally possessed by the Singapore Land Authority (SLA) from Tuesday (April 25), even though their owners have not handed over the keys to the property.
The homeowners at 27, 29 and 33 Merpati Road were served notice to move out by SLA's deputy chief executive Simon Ong and four other officers this morning. Their 12 other neighbours have already moved out before Tuesday - the final deadline given to the residents.
https://www.straitstimes.com/singap...-after-owners-fail-to-move-out-after-deadline
Tio lah! Limpeh are all these that you say. LOL. Why build a new radar tower or sewer pump next to a ministar house.
Someone Singkie even say that if she dies alone, that's her choice. She's not alone.No matter how much your property is worth, remember that a house is not a home.
Refer to that old lady who died alone with his dog in the Amber Road condo. Died for two years, and no one knew.
You must be an idiots to think that they don't have plans in the pipeline to convert freehold to leases.
Daft!
May Allah guide her to be the best doctor the world has seen.lucky my small house is freehold and my investment house also the same
all these will pass on to my daughter when we are gone
and in future she can buy her own properties she said when she grow up she wants to be a doctor
your daughter got boyfriend yet?lucky my small house is freehold and my investment house also the same
all these will pass on to my daughter when we are gone
and in future she can buy her own properties she said when she grow up she wants to be a doctor
can i take q number first?
hehe
just joking
hope she grows up healthy and well
best wishes for 2021 to u and your family!
happy new year to u too bro
inshallah bro
my mother was a staff nurse and my dad was a hospital attendant
my wife is a nurse and me a hospital attendant.
i got the feeling my daughter will be a doctor in future.
Possible revival of en bloc market in 2021 as developers look to replenish land banks: Analysts
condos
General view of private and HDB properties in Singapore. (File photo: TODAY)
Bookmark
SINGAPORE: The muted collective sales market could see a revival in the second half of next year, as developers turn to the private residential scene to feed a growing appetite for land, according to property analysts.
This comes as the property market has remained resilient in the face of the COVID-19 pandemic and consequent economic uncertainty, said analysts.
READ: Singapore new private home sales up 18.9% in November
Just two en bloc deals totalling S$77.2 million have been inked so far this year, according to Mr Wong Xian Yang, an associate director of research at property firm Cushman & Wakefield.
They were for Yuen Sing Mansion in Geylang, which was transacted in August, and adjoining sites Fairhaven and Sophia Ville, which were taken off the market in early December.
In November, however, Roxy-Pacific Holdings forked out S$93 million for 15 terraced houses in the Guillemard Road area, marking the year's largest private residential transaction.
A few days later, a consortium bought a plot with 11 homes near Haig Road for S$32.8 million.
READ: Authorities to cap number of owners a proxy can represent at general meetings for en bloc sales
The sums are small compared to the en bloc frenzy of 2017 and 2018, when transaction values totalled S$8.3 billion and S$10.3 billion respectively, said Mr Wong.
However, the stirring of activity could be the start of more to come, with analysts pointing to multiple signs of a collective sale revival in the next year or two.
FALLING INVENTORY PUSHING DEVELOPERS TO SHORE UP LAND BANKS: EXPERTS
For one, developers are running out of stock, analysts sasid.
“Current unsold inventory has continued to fall and currently stands at 26,600 units as at Q3 2020,” Mr Wong said.
“The start of the previous en bloc cycle was in 2Q 2016, when inventory fell to 23,300 units… That can sort of serve as benchmark to the point at which developers would start looking for land,” he said.
READ: Commentary: Concerned about what fall in private home sales mean? Market fundamentals paint a different story
In addition, many of the existing launches are from the previous en bloc cycle during 2017 to 2018, said Professor Sing Tien Foo, the director of the Institute of Real Estate and Urban Studies at the National University of Singapore.
Developers must finish selling their projects within five years to get back part of the stamp duties they pay, so their deadlines are coming up around 2022 or 2023, he said.
Prof Sing added that that would mean developers need to start shoring up their land banks to plan for future projects, and en bloc sales are a “quick way” to do that.
READ: Government maintains 'moderate supply' of land for private housing; new sites at one-north, Tampines Street 62
The experts also pointed out that recent tenders under the Government Land Sales (GLS) programme have been hotly contested, such as a plot at Tanah Merah Kechil Link that drew 15 bidders.
The supply from the latest GLS programme is also still “conservative”, which is likely to renew interest in the collective sales market, said Mr Ong Teck Hui, senior director of research and consultancy at JLL Singapore .
“The GLS supply is very competitive and there are many eyeing it. For smaller developers, it’s a bit harder to compete, so they may go for en bloc sites as an alternative source,” added Prof Sing.
Huttons Asia’s head of research Lee Sze Teck said developers might also turn to the collective sales market for more “variability” in location, given that the sites under GLS are “a bit concentrated in a few areas”.
However, JLL’s Mr Ong said any likely interest in the collective sales market would not match “the extent of the fervour seen in 2017 and 2018”, due to more economic uncertainty.
WHO WILL BENEFIT FROM THIS?
Smaller developments are likely to be the first to benefit from heightened interest in the en bloc market, the experts said.
“The cooling measures like the Additional Buyer’s Stamp Duty and the non-remissible component increase developers’ costs upfront,” said Huttons’ Mr Lee.
“That’s why they would not want very big sites that come with over a thousand units (which are more expensive) … The risk of not selling out is also higher,” he added.
Instead, developers would eye small to medium developments with fewer than, or about 200 units, said Prof Sing.
“That’s also something that’s easier to organise collective action for.
"Compare getting 160 people to agree to a sale, to a project with 500 units where you need 300 people to agree,” he said.
POSSIBLE INCREASES IN LAND PRICES
While this could be good news for owners looking to sell, the return of the en bloc market could also drive up overall land and property prices, the analysts warned.
“Developers have to entice current owners to sell en bloc, so they have to offer something that’s better than what they get if they sell individually on market,” explained Huttons’ Mr Lee.
That will feed into the cost of whole equation, he added, so when the new project is launched, the developers will charge higher prices for the units.
“There’s an increase in prices because of the intensification of land use. You also replace it with a new structure so it costs you more,” Prof Sing said.
He added: “New developments may also attract more amenities to an area, which leads more people to move there and then raises demand and prices for a location.”
Subsequently, owners from other developments may then take reference from these higher selling prices when they choose to resell their units or go en bloc too, feeding a cycle of rising prices, said Cushman & Wakefield’s Mr Wong.
Should that happen, Prof Sing cautioned that price increases must be carefully monitored, to ensure they do not fall out of line with economic fundamentals and the market's health.
Source: CNA/cl
condos
General view of private and HDB properties in Singapore. (File photo: TODAY)
Bookmark
SINGAPORE: The muted collective sales market could see a revival in the second half of next year, as developers turn to the private residential scene to feed a growing appetite for land, according to property analysts.
This comes as the property market has remained resilient in the face of the COVID-19 pandemic and consequent economic uncertainty, said analysts.
READ: Singapore new private home sales up 18.9% in November
Just two en bloc deals totalling S$77.2 million have been inked so far this year, according to Mr Wong Xian Yang, an associate director of research at property firm Cushman & Wakefield.
They were for Yuen Sing Mansion in Geylang, which was transacted in August, and adjoining sites Fairhaven and Sophia Ville, which were taken off the market in early December.
In November, however, Roxy-Pacific Holdings forked out S$93 million for 15 terraced houses in the Guillemard Road area, marking the year's largest private residential transaction.
A few days later, a consortium bought a plot with 11 homes near Haig Road for S$32.8 million.
READ: Authorities to cap number of owners a proxy can represent at general meetings for en bloc sales
The sums are small compared to the en bloc frenzy of 2017 and 2018, when transaction values totalled S$8.3 billion and S$10.3 billion respectively, said Mr Wong.
However, the stirring of activity could be the start of more to come, with analysts pointing to multiple signs of a collective sale revival in the next year or two.
FALLING INVENTORY PUSHING DEVELOPERS TO SHORE UP LAND BANKS: EXPERTS
For one, developers are running out of stock, analysts sasid.
“Current unsold inventory has continued to fall and currently stands at 26,600 units as at Q3 2020,” Mr Wong said.
“The start of the previous en bloc cycle was in 2Q 2016, when inventory fell to 23,300 units… That can sort of serve as benchmark to the point at which developers would start looking for land,” he said.
READ: Commentary: Concerned about what fall in private home sales mean? Market fundamentals paint a different story
In addition, many of the existing launches are from the previous en bloc cycle during 2017 to 2018, said Professor Sing Tien Foo, the director of the Institute of Real Estate and Urban Studies at the National University of Singapore.
Developers must finish selling their projects within five years to get back part of the stamp duties they pay, so their deadlines are coming up around 2022 or 2023, he said.
Prof Sing added that that would mean developers need to start shoring up their land banks to plan for future projects, and en bloc sales are a “quick way” to do that.
READ: Government maintains 'moderate supply' of land for private housing; new sites at one-north, Tampines Street 62
The experts also pointed out that recent tenders under the Government Land Sales (GLS) programme have been hotly contested, such as a plot at Tanah Merah Kechil Link that drew 15 bidders.
The supply from the latest GLS programme is also still “conservative”, which is likely to renew interest in the collective sales market, said Mr Ong Teck Hui, senior director of research and consultancy at JLL Singapore .
“The GLS supply is very competitive and there are many eyeing it. For smaller developers, it’s a bit harder to compete, so they may go for en bloc sites as an alternative source,” added Prof Sing.
Huttons Asia’s head of research Lee Sze Teck said developers might also turn to the collective sales market for more “variability” in location, given that the sites under GLS are “a bit concentrated in a few areas”.
However, JLL’s Mr Ong said any likely interest in the collective sales market would not match “the extent of the fervour seen in 2017 and 2018”, due to more economic uncertainty.
WHO WILL BENEFIT FROM THIS?
Smaller developments are likely to be the first to benefit from heightened interest in the en bloc market, the experts said.
“The cooling measures like the Additional Buyer’s Stamp Duty and the non-remissible component increase developers’ costs upfront,” said Huttons’ Mr Lee.
“That’s why they would not want very big sites that come with over a thousand units (which are more expensive) … The risk of not selling out is also higher,” he added.
Instead, developers would eye small to medium developments with fewer than, or about 200 units, said Prof Sing.
“That’s also something that’s easier to organise collective action for.
"Compare getting 160 people to agree to a sale, to a project with 500 units where you need 300 people to agree,” he said.
POSSIBLE INCREASES IN LAND PRICES
While this could be good news for owners looking to sell, the return of the en bloc market could also drive up overall land and property prices, the analysts warned.
“Developers have to entice current owners to sell en bloc, so they have to offer something that’s better than what they get if they sell individually on market,” explained Huttons’ Mr Lee.
That will feed into the cost of whole equation, he added, so when the new project is launched, the developers will charge higher prices for the units.
“There’s an increase in prices because of the intensification of land use. You also replace it with a new structure so it costs you more,” Prof Sing said.
He added: “New developments may also attract more amenities to an area, which leads more people to move there and then raises demand and prices for a location.”
Subsequently, owners from other developments may then take reference from these higher selling prices when they choose to resell their units or go en bloc too, feeding a cycle of rising prices, said Cushman & Wakefield’s Mr Wong.
Should that happen, Prof Sing cautioned that price increases must be carefully monitored, to ensure they do not fall out of line with economic fundamentals and the market's health.
Source: CNA/cl
WHy not? I made a lot of money on property in S'pore
U have no fucking idea how property works. If the govt decides to buy your land to build a military base or MRT line, and after they buy the land from you, the land is still freehold. Understand or not? The only difference is that it is owned by govt. and not you. What you have done is sold your freehold land to the govt in exchnage for money. Its a commercial activity. U may not have wanted to sell it, and the govt forced the issue. But that has nothing to do with the status of the land. The govt can also buy 99 year leasehold land by triggering the Land Acquisitions Act. So, even though you have 75 years left on the lease, if the govt wants it, you sell.
Technically, all land that the govt owns is freehold. They only decide to lease it to developers and peasants for 99 years.
Another fucking idiot know nothing about properties. If I own a freehold condo unit in a 40 year old building, and i am rubbing my hands waiting for a developer to come an enbloc me. Those older buildings are ripe for a developer to come and make an offer on them. Any developer will be able to get a much higher plot ratio then what is on a 40 year freehold condo land.
No they don't. what idiot thinks they do? oh wait............... its you.
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Do you think it is worth paying a premium for freehold condos over 99 year lease condos?
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