12 Apr '17, 12pm

New post added at LushHomeMedia - Residential en bloc market poised to pick up: Analysts

The residential collective sales market is poised to pick up this year, with analysts citing the limited supply of private housing sites at state tenders and strong demand for land by developers as key factors. A collective sale, also known as an en bloc sale, refers to a combined sale by the owners of property units to a shared purchaser with sale proceeds divided amongst the unit owners. In 2016, three such en bloc deals valuing more than S$1 billion went through, up from S$380 million in 2015. Market watchers told Channel NewsAsia the pick-up is due to the stabilising of private home sales following the imposition of property cooling measures, with new private home sales growing by 7.2 per cent year-on-year, from 7,440 units sold in 2015 to 7,972 units in 2016. “Market conditions seems to support this confidence among developers to perhaps now look at en bloc sales,” sa...

Full article: http://www.lushhomemedia.com/manage_posts/2017/04/12/resi...

Tweets

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