All about enbloc

[Lala81]

https://thefolksatsgproptalk.wordpress.com/category/chuan-park/

[Lala81]

Chuan park's plot ratio is 2.1 since 2003 ura master plan. So probably it was increased in the 1990s?
Sometimes can google out the information but no info for this one.

 

[Mooose]

6 minutes ago, Lala81 said:

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. 

no disrespect here, but usually we are very comfortable with what we are so used to .. like our home or car .. we dont usually think our car is shabby for example .. only when you sit in someone's new car - new as in age as well as technology etc, then we realise how old our car is ..

ditto the home .. we can be very happy and content with the state of our estate but if you visit a new showflat or someone's flat in a new estate, you will be surprised what people are drawn to nowadays - must have 100 swimming or decorative pools etc hahaha

 

[Mooose]

6 minutes ago, Lala81 said:

Chuan park's plot ratio is 2.1 since 2003 ura master plan. So probably it was increased in the 1990s?
Sometimes can google out the information but no info for this one.

 

this is the important info .. chuan park was built in the 1980s .. and if the plot ratio was increased in 2003 (or at any rate after building) then the land can accommodate more flats or higher GFA than present, and this is where the developers can build more to sell more to earn more ..

hence yes, this estate has a potential for enbloc ..

against it would be the leasehold .. the older it is, the higher the premium for top up of the lease, and hence based on a certain price the developer must get the land at, this is split between the owners and the govt (for the lease top up premium) .. hence the owners potentially get less money the older the estate is ..

[DOBIEMKZ]

8 minutes ago, Lala81 said:

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

 

Seems not exactly a forum, more like questions and answers kind of platform.

AskGuru Community.

"Make confident property decisions with advice from our experts" 

https://www.propertyguru.com.sg/property-investment-questions/search?keyword=en+bloc

[Mooose]

16 minutes ago, camrysfe said:

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. 

yes, top up premium - this increases as the lease runs lower because the developer has to "buy" more years from the government to make up to 99 years .. and the second i think you are referring to the DC (development charge) .. the increase in the intensity of build up from present ..

[Lala81]

18 minutes ago, Mooose said:

no disrespect here, but usually we are very comfortable with what we are so used to .. like our home or car .. we dont usually think our car is shabby for example .. only when you sit in someone's new car - new as in age as well as technology etc, then we realise how old our car is ..

ditto the home .. we can be very happy and content with the state of our estate but if you visit a new showflat or someone's flat in a new estate, you will be surprised what people are drawn to nowadays - must have 100 swimming or decorative pools etc hahaha

 

Yes you're totally right. 
My estate is old style. But i personally don't mind old style. But most people rather live in a cramped new one but nicely landscaped. And i can appreciate the new modern layouts. Lots of water/greenery. Rooms the size of a HDB bomb shelter but they like it.

I'm well aware of this fact. People now want new things.
That's why I don't plan to resell. I will keep this place until it eventually enblocs just from sheer disrepair. When i bought it, i only considered the land size to be worth the enbloc potential. And a small plot ratio increase years ago. 
I gauge it more like buying an older landed rather than buying a condo. Other than it meets my family's immediate needs.

 

 

Edited August 5, 2021 by Lala81

[Lala81]

19 minutes ago, DOBIEMKZ said:

Seems not exactly a forum, more like questions and answers kind of platform.

AskGuru Community.

"Make confident property decisions with advice from our experts" 

https://www.propertyguru.com.sg/property-investment-questions/search?keyword=en+bloc

That one 100% is agents. U will learn more from asking others with no vested interest. Though understanding the agents perspective is also good. 

Since they meet many types of buyers whereas your own acquaintances/friends may all tend to be the same type of investor/buyer.

 

Edited August 5, 2021 by Lala81

[Mooose]

4 minutes ago, Lala81 said:

Yes you're totally right. 
My estate is old style. But i personally don't mind old style. But most people rather live in a cramped new one but nicely landscaped. And i can appreciate the new modern layouts. Lots of water/greenery. Rooms the size of a HDB bomb shelter but they like it.

I'm well aware of this fact. People now want new things.
That's why I don't plan to resell. I will keep this place until it eventually enblocs just from sheer disrepair. When i bought it, i only considered the land size to be worth the enbloc potential. And a small plot ratio increase years ago. 
I gauge it more like buying an older landed rather than buying a condo. Other than it meets my family's immediate needs.

 

 

fantastic!

it is almost impossible to get large spacious units nowadays in new estates .. old estates have 2 bedrooms within 1300sf or 3 bedrooms spread out over 1600sf for example, but now 3 bedrooms are squeezed within 1000sf ..

life is to be enjoyed rather than measured in dollars and cents 😊

[DOBIEMKZ]

16 minutes ago, Mooose said:

no disrespect here, but usually we are very comfortable with what we are so used to .. like our home or car .. we dont usually think our car is shabby for example .. only when you sit in someone's new car - new as in age as well as technology etc, then we realise how old our car is ..

ditto the home .. we can be very happy and content with the state of our estate but if you visit a new showflat or someone's flat in a new estate, you will be surprised what people are drawn to nowadays - must have 100 swimming or decorative pools etc hahaha

 

Same for handphones and gadgets.
Once I feel those new phones with 120Ghz screen refresh rate and touch sampling rate ( and some even higher), I feel mine one is like obsolete.  :/

[DOBIEMKZ]

4 minutes ago, Lala81 said:

That one 100% is agents. U will learn more from asking others with no vested interest. Though understanding the agents perspective is also good. 

Since they meet many types of buyers whereas your own acquaintances/friends may all tend to be the same type of investor/buyer.

 

Yes.
Some very technical or delicate questions or queries, the agents (experienced ones) and/or mortgage bankers give better advice.

 

[Lala81]

4 minutes ago, DOBIEMKZ said:

Yes.
Some very technical or delicate questions or queries, the agents (experienced ones) and/or mortgage bankers give better advice.

 

more likely to meet a slipshod agent. Some agents are careful, some aren't ... just want to close a deal. My seller agent is one of the latter. Almost got into trouble due to him (me being a noob also).

 

[Beanoyip]

1 hour ago, Lala81 said:

how old is your parents estate?

45yrs at least i would say..

[Lala81]

1 minute ago, Beanoyip said:

45yrs at least i would say..

FH then can continue to wait lol.

[Mkl22]

1 hour ago, camrysfe said:

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 

braddell view. my old place. lived there when i was a kid to almost young adult. very very tough to enbloc. one of the largest plots of condo land. will probably need a few developers to collaborate to enbloc. chances are IMHO super low. almost 1k units too.

[Lala81]

24 minutes ago, Mkl22 said:

braddell view. my old place. lived there when i was a kid to almost young adult. very very tough to enbloc. one of the largest plots of condo land. will probably need a few developers to collaborate to enbloc. chances are IMHO super low. almost 1k units too.

fwah that's big siah.

Agreed. Too big to swallow.

Quote

1.14 million sq ft

Braddell View, which sits on a 1.14 million sq ft hilltop site overlooking MacRitchie Reservoir Park, comprises two commercial units and 918 residential units. The plot has a lease tenure of about 102 years with effect from Feb 1, 1978

 

[Mkl22]

4 minutes ago, Lala81 said:

fwah that's big siah.

Agreed. Too big to swallow.

 

yeah with this size of land and to enbloc and maximise it, estimate they at the very least need to double the number of units to make it worth their while. thus need to sell 2000units at a min. probably closer to 2.5k or even 3k units. and all these has to be done within 5years else face ABSD.

huge load of risk... in the end for what. might as well buy smaller plots make the money and call it a day.

[Lala81]

4 minutes ago, Mkl22 said:

yeah with this size of land and to enbloc and maximise it, estimate they at the very least need to double the number of units to make it worth their while. thus need to sell 2000units at a min. probably closer to 2.5k or even 3k units. and all these has to be done within 5years else face ABSD.

huge load of risk... in the end for what. might as well buy smaller plots make the money and call it a day.

hahaha no scared. Jadescape already set the new launch benchmark for the area