30 Oct '17, 4am

Developers prefer leasehold properties in current en bloc boom

The current en bloc frenzy has bucked the trend as developers favoured leasehold properties over freehold ones, reported the Business Times . A Cushman & Wakefield study showed that the proportion of leasehold residential properties sold en bloc – by number of units – has risen to 92 percent in 2016 and 83 percent so far this year. The figures mark a shift from the 2008 to 2013 en bloc boom when almost all residential units sold en bloc were freehold. Freehold properties also accounted for over 70 percent of the total deals during the 2005 to 2007 en bloc fever, said Christine Li, Cushman & Wakefield’s research director. Industry players have attributed the swing to the strong demand for mass-market private homes and lack of supply from government land sales (GLS). Developers also prefer bigger leasehold sites as they could achieve greater economies of scale and eventually...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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