An en-bloc sale is only going to happen if developers or the government feel they can become even more value from the land by getting and redeveloping it. Among the catalysts for an en-bloc sale is as soon as the land value rises above the worth of your premises.
Collective sales might be helpful engine of increase in the important property sector of our economy. As such, they are not attractive to many owners of 99-year leasehold apartments unless the expense of maintaining their ageing properties are so high that a collective sale becomes the cheaper alternative.
En bloc sales is, actually, a type of property renewal which rejuvenates a whole estate and has a positive impact on the property values. Charles Reed CEO interTouch EN BLOC sales could possibly be good news to individuals who wish to earn a quick buck from the selling of the property but not so very good news for people that love the area and whose family calls it home.
Even in the event that you don’t have any property to speak of, you might feel the effects once you finally decide to purchase one. If you reside in private property, your neighbours are more inclined to agree to the sale. In the event the property is less than a decade old, 90% must agree. It was built in 1982, and is made up of 105 units. On its fourth attempt, the property en bloc managed to entice a fervent interest from several developers in the nation.
If you bought your property quite a long time ago when prices were lower, you will likely earn a huge profit. When it has to do with HDB property, the government has the last say, but among the factors they consider is the access to suitable sites in the region to move residents to.