All about enbloc

[camrysfe]

What do you guys think of targeting specific properties in hopes of going enbloc?

I am currently looking at Chuan park 

[ToyotaShuttle]

37 minutes ago, camrysfe said:

What do you guys think of targeting specific properties in hopes of going enbloc?

I am currently looking at Chuan park 

no enbloc how? you prepared to stay there for how many yrs?

[Volvobrick]

Good idea. As long as you pay 100% cash for it and don't have to worry not enbloc'ed. 

[Beanoyip]

5 hours ago, camrysfe said:

What do you guys think of targeting specific properties in hopes of going enbloc?

I am currently looking at Chuan park 

DId you find out what is the % of ppl willing to sign for en bloc there? My uncle owns a couple of units there, still waiting for it to en bloc since 10yrs ago..

[Lala81]

Has the plot ratio increased for chuan Park over the years? 

The location is not bad though. 

[Mkl22]

2 hours ago, Beanoyip said:

DId you find out what is the % of ppl willing to sign for en bloc there? My uncle owns a couple of units there, still waiting for it to en bloc since 10yrs ago..

exactly this. agreed have a relative living there too. unless all the older people there pass on the the decision is left to the younger generation, unlikely to enbloc. the last attempt in 2017/18 was a dismal 30-40% max if i'm not wrong. long long way to go to hit 80%. doubt it is the money.  anyway 99yrs... if developer pays high to the current owners, still have to top up lease. then even if good location also no use as the price will be too high. not too many developers willing to take such a huge risk these days.

[camrysfe]

[camrysfe]

7 hours ago, ToyotaShuttle said:

no enbloc how? you prepared to stay there for how many yrs?

Renting out or staying works for me. As some has mentioned, the location is good

[Lala81]

guess the unit u buying over cannot be too chui. No point in sinking too much reno cost. But if self stay or renting out still must be respectable condition.

A balance.

 

[Beanoyip]

32 minutes ago, Mkl22 said:

exactly this. agreed have a relative living there too. unless all the older people there pass on the the decision is left to the younger generation, unlikely to enbloc. the last attempt in 2017/18 was a dismal 30-40% max if i'm not wrong. long long way to go to hit 80%. doubt it is the money.  anyway 99yrs... if developer pays high to the current owners, still have to top up lease. then even if good location also no use as the price will be too high. not too many developers willing to take such a huge risk these days.

Similar to the estate my parents are living in, mostly 1st generation owners.. recent collective sale only achieved 55%.. 

[camrysfe]

52 minutes ago, Mkl22 said:

exactly this. agreed have a relative living there too. unless all the older people there pass on the the decision is left to the younger generation, unlikely to enbloc. the last attempt in 2017/18 was a dismal 30-40% max if i'm not wrong. long long way to go to hit 80%. doubt it is the money.  anyway 99yrs... if developer pays high to the current owners, still have to top up lease. then even if good location also no use as the price will be too high. not too many developers willing to take such a huge risk these days.

30-40% seems really low. I will think that all these older 99 years developments owners will be more anxious compared to the 999 and fh one. Another estate I targeted is Braddell view, mar thoma mansions and st Michael condominium 

[Lala81]

30 minutes ago, Beanoyip said:

Similar to the estate my parents are living in, mostly 1st generation owners.. recent collective sale only achieved 55%.. 

how old is your parents estate?

[Mooose]

1 hour ago, camrysfe said:

i am guessing, but if this notice is already out, those prepared to sell must be either in the dark (like foreign owner not really in touch here) or someone trying to get a price higher than present normal market but lower than target enbloc price .. so you will have to be prepared to pay more than market now?

[Mooose]

43 minutes ago, Lala81 said:

guess the unit u buying over cannot be too chui. No point in sinking too much reno cost. But if self stay or renting out still must be respectable condition.

A balance.

 

but then depending on % the pro-enbloc will try to block all improvements for two reasons, one is not to spend money (which they have to contribute to as an owner) and two is to make the estate run down so that things break down and some of the anti-enbloc may be "persuaded" to leave the place (and thus be more prepared to sell) ..

 

[camrysfe]

2 minutes ago, Mooose said:

but then depending on % the pro-enbloc will try to block all improvements for two reasons, one is not to spend money (which they have to contribute to as an owner) and two is to make the estate run down so that things break down and some of the anti-enbloc may be "persuaded" to leave the place (and thus be more prepared to sell) ..

 

yeah you are right, the more run down or chui the estate, the more push factors on top of the pull factor($$). 

 

5 minutes ago, Mooose said:

i am guessing, but if this notice is already out, those prepared to sell must be either in the dark (like foreign owner not really in touch here) or someone trying to get a price higher than present normal market but lower than target enbloc price .. so you will have to be prepared to pay more than market now?

i think chuan park is still trying to get 80% to be eligible to launch for public tender.

1 hour ago, Lala81 said:

Has the plot ratio increased for chuan Park over the years? 

The location is not bad though. 

plot ratio should have increased because i understand there are 2 fees to be paid to the state. One is to top up the lease, the other is to match the current master plan plot ratio. 

[DOBIEMKZ]

9 hours ago, camrysfe said:

What do you guys think of targeting specific properties in hopes of going enbloc?

I am currently looking at Chuan park 

I think Property Guru forum may have more gurus to give good advice. 

[Lala81]

6 minutes ago, Mooose said:

but then depending on % the pro-enbloc will try to block all improvements for two reasons, one is not to spend money (which they have to contribute to as an owner) and two is to make the estate run down so that things break down and some of the anti-enbloc may be "persuaded" to leave the place (and thus be more prepared to sell) ..

 

Ah true. I was thinking more about unit renovation etc.

I'm in an old development too, so just speaking from my own perspective.  Though my estate is well maintained. 

[Lala81]

1 minute ago, DOBIEMKZ said:

I think Property Guru forum may have more gurus to give good advice. 

Is there a PG forum? Didn't know. Anyway likely 90% there are agents...