18 Nov '17, 1pm

What You Need To Know About En-Bloc Sales In Singapore

What You Need To Know About En-Bloc Sales In Singapore

Private property is a well sought-after commodity in land-scarce Singapore. Yet in some cases, the government and property developers can actually take over the land that your property sits on, compelling you to sell your house. Of course, the reality is often less grim with many owners of old developments suddenly becoming overnight millionaires after an en-bloc sale. But make no mistake about it – a successful en-bloc sale is not easy and can take an awfully long time. What is an En-bloc? An en-bloc or collective sale occurs when the there is a sale of two or more property units to a common developer. In the event of a successful en-bloc sale, proceeds are usually divided amongst all the unit owners. Leedon Residence Some of the more well-known and successful en-blocs in Singapore include Leedon Heights (today known as Leedon Residence), which was sold for $835 million, ...

Full article: https://www.iproperty.com.sg/news/what-you-need-to-know-a...

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