19 Oct '15, 7am

#singapore #property Two-year dry spell for collective sales: Singapore has been witnes...

#singapore #property Two-year dry spell for collective sales: Singapore has been witnes...

Comment E-mail to friend Bookmark & Share Singapore has been witnessing lacklustre demand for collective sales sites, with only two deals closed since the start of 2014, a significant decline from the 16 transactions in 2013, revealed JLL data. Analysts attribute the drop in demand to various factors, including property cooling measures, the complexity of en bloc sales, ample supply of government land sites and weak home-buying sentiment, reported The Straits Times. Notably, around 10 attempts to sell en bloc were scuppered over the last two years, including the S$1.39 billion collective sale of Spring Grove condominium at Grange Road. Meanwhile, the collective sale of Amber Park in Katong in July this year closed with no bids. Katong Omega Apartments was the only en bloc sale recorded last year, while Thong Sia Building on the Orchard shopping belt is the only one registe...

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

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Singapore Property Blog | Investing in Singapore Real Estate, HDB, Condos, Houses » Singapore Property Weekly » Singapore ...