Ever since the en-bloc market sprang to life in late 2016, there has been a flurry of activity. Developers have been bidding and gunning for sites aggressively, and owners are fast-tracking their sales committees to get to market and take advantage of the upturn.
How has the en-bloc market developed so far? A research house has so kindly compiled a list of en-bloc deals that have happened, is happening and might happen.
On the left, the government didn’t release a lot of land for the 2H17 land sales programme. Result: developers can’t replenish their land bank. They become desperate (because having land and building on it is how they make money).
What happens? The developers go to the private market, find old developments that have potential to be en-bloced, and buy them.
On the right, concluded deals has contributed about 7,495 units to developers. Add those presently on the market, you get (7,495 concluded en-bloc deals + 5,950 on the market) = 13,445 units.
Add another 17,546 which are in the pipeline, you get (13,445 + 17,546) = 30,901 units.
Completed and in-progress deals
Developments with en-bloc potential
For property investors, it might be worth a visit to some of these developments which have en-bloc potential.
Look at the “Current units” and “Potential units” columns in the middle. A big difference means a developer can come in, buy out the present owners, knock down the development and rebuild it with more units.
If you’re on a house hunt, check out these other developments.
- Bangkok’s Life Asoke Rama 9 going from S$1xxk for a one bedroom unit
- 2 properties for the price of 1 with dual key units