21 Jan '12, 5am

En-bloc fever appears to be receding: Khaw

En-bloc fever appears to be receding: Khaw

SINGAPORE: The days of en-bloc fever appear to be in the past, with new data released by the National Development Minister suggesting that such activity has slowed in recent years. In his latest blog post, Mr Khaw Boon Wan revealed that some 1,400 private housing units were sold through en-bloc activities in 2011. He said this number is low compared to the peak in 2007, when 5,862 units were sold. Mr Khaw said it looks like the en-bloc fever is receding, and if so, signals the increasing stabilisation of Singapore's property market. This will be a good development for Singapore in the Year of the Dragon, he added. Mr Khaw said en-bloc activities reached "feverish heights" in 2006 and 2007, when a total of 10,200 units were sold for redevelopment. He said this added stress to an already-hot property market, as housing units were removed from the market. He noted that displa...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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