06 Nov '17, 5am

Spike in en-bloc sales may not lead to property bubble: Lawrence Wong

SINGAPORE – A total of about 2,700 existing private residential units have been sold en-bloc so far this year, compared with 600 units for the whole of last year, said Minister for National Development Lawrence Wong in Parliament on Monday (Nov 6). The spike could be due to how more developers are keen on replenishing their land banks given the fewer number of unsold units in the market, said Mr Wong who was responding to a parliamentary question tabled by Member of Parliament Lim Wee Kiak (Sembawang GRC). Related News Singapore Sunday Spotlight: With en bloc fever rising again, residents try to cash in without the mudslinging November 4 Noting the “healthy increase” in the sales of new units in the first three quarters of the year, Mr Wong said the unsold supply has dropped from about 40,000 units in 2012 to some 17,200 units as of the third quarter this year. The success...

Full article: http://www.todayonline.com/singapore/sharp-jump-number-ho...

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