Property Views
-
starlight1968sg:
Pardon me, is en bloc :
most of the residents living in the same condo agreed to rebuild the whole condo?
Whatever lah...afterall, that's not even an English word...
Over 80% finally agreed to sell..otherwise, No deal... -
Augmum:
Agreed to sell to who?starlight1968sg:
Pardon me, is en bloc :
most of the residents living in the same condo agreed to rebuild the whole condo? Whatever lah...afterall, that's not even an English word...
Over 80% finally agreed to sell..otherwise, No deal...
Do the residents have to move out and where would they live? -
Receive compensation from developer… 7 figure digit compensation I think… land sold to developer…
-
Augmum:
It is quite hard to get 80% to agree isnt it?starlight1968sg:
Pardon me, is en bloc :
most of the residents living in the same condo agreed to rebuild the whole condo? Whatever lah...afterall, that's not even an English word...
Over 80% finally agreed to sell..otherwise, No deal... -
Augmum:
To add on, sometimes the unit may be in its original condition so the renovation costs can be very high. In the range of 300-500k.Regarding Enbloc...Collective sale of residential ppty...
Those developments which were of great potential for collective sale...alrdy caught the eyes of developers as they were being Enbloc Years ago during the past Enbloc fever...Developers' eyes are much brighter n sharper than ours...
Am also keeping a lookout for one...
One which has the potential like my previous house which reaped handsome profit from the collective sale...
BUT in current market... to single out 1 out of the many remaining developments...
Dump in n tie up my funds in a decade(s) - old ppty ... sitting on it.... waiting for possibly of enbloc which may or may Not materialise many yrs later ....hmm...??? :scratchhead:
Becos those remaining ones in the market right now are obviously the less appealing ones to the eyes of developers ... be it price, location or plot ratio, etc...
Or they are those which had undergone unsuccessful / problematic enbloc attempts in the past ....( Fail in price neg or fail to garner 80% votes, or simply no takers) ... But owners are asking for high premiums as they factored in the enbloc premium...
Even if you do up your unit nicely, there is a risk of water leakage by your neighbour into your unit. Sometimes, this can escalate into a legal matter.
These projects may also require more repairs or replacements. Again $$$.
Parent's home was enbloc. Having gone through one round, I personally will not buy with this objective. But I know people who like to invest in properties with enbloc potential. -
starlight1968sg:
Agreed to sell to who?Augmum:
[quote=\"starlight1968sg\"]Pardon me, is en bloc :
most of the residents living in the same condo agreed to rebuild the whole condo? Whatever lah...afterall, that's not even an English word...
Over 80% finally agreed to sell..otherwise, No deal...
Do the residents have to move out and where would they live?[/quote]Sold to developer lor...
Yes...need to vacate the ppty on stipulated date, with everything removed...
Where would the residents live ?? That would hv to be 自己保重啰...
-
Coolkidsrock2:
Agree...on that part that renovation cost will run up real high if the ppty is of original condition in decades-old projects...
To add on, sometimes the unit may be in its original condition so the renovation costs can be very high. In the range of 300-500k.Augmum:
Regarding Enbloc...Collective sale of residential ppty...
Those developments which were of great potential for collective sale...alrdy caught the eyes of developers as they were being Enbloc Years ago during the past Enbloc fever...Developers' eyes are much brighter n sharper than ours...
Am also keeping a lookout for one...
One which has the potential like my previous house which reaped handsome profit from the collective sale...
BUT in current market... to single out 1 out of the many remaining developments...
Dump in n tie up my funds in a decade(s) - old ppty ... sitting on it.... waiting for possibly of enbloc which may or may Not materialise many yrs later ....hmm...??? :scratchhead:
Becos those remaining ones in the market right now are obviously the less appealing ones to the eyes of developers ... be it price, location or plot ratio, etc...
Or they are those which had undergone unsuccessful / problematic enbloc attempts in the past ....( Fail in price neg or fail to garner 80% votes, or simply no takers) ... But owners are asking for high premiums as they factored in the enbloc premium...
Even if you do up your unit nicely, there is a risk of water leakage by your neighbour into your unit. Sometimes, this can escalate into a legal matter.
These projects may also require more repairs or replacements. Again $$$.
Parent's home was enbloc. Having gone through one round, I personally will not buy with this objective. But I know people who like to invest in properties with enbloc potential.
One of the nightmares is to buy a house with water leakage ... during the period of house hunting...i had seen several houses across various developments with this water leakage problem...even projects which were only few yrs old...
The demage done to the parquet floorings, the built- in wardrobe...many more... :slapshead:
One of them, the water leakage was so bad ...that there was a musty smell in the entire house ...so much so that the owner needed to light scented candles during the house viewing....
Yup...def more repair works have to be done on such old projects...when it is too exp for residents to bear...they would rather vote against it... -
TheAnswer:
Generally, the bigger the project ( land area) ...the harder to garner 80% share value to agree to it...
It is quite hard to get 80% to agree isnt it?Augmum:
Over 80% finally agreed to sell..otherwise, No deal...
For developments which are less than 10 yrs old, need 90% ... -
Augmum:
Agree...on that part that renovation cost will run up real high if the ppty is of original condition in decades-old projects...
To add on, sometimes the unit may be in its original condition so the renovation costs can be very high. In the range of 300-500k.Coolkidsrock2:
[quote=\"Augmum\"]Regarding Enbloc...Collective sale of residential ppty...
Those developments which were of great potential for collective sale...alrdy caught the eyes of developers as they were being Enbloc Years ago during the past Enbloc fever...Developers' eyes are much brighter n sharper than ours...
Am also keeping a lookout for one...
One which has the potential like my previous house which reaped handsome profit from the collective sale...
BUT in current market... to single out 1 out of the many remaining developments...
Dump in n tie up my funds in a decade(s) - old ppty ... sitting on it.... waiting for possibly of enbloc which may or may Not materialise many yrs later ....hmm...??? :scratchhead:
Becos those remaining ones in the market right now are obviously the less appealing ones to the eyes of developers ... be it price, location or plot ratio, etc...
Or they are those which had undergone unsuccessful / problematic enbloc attempts in the past ....( Fail in price neg or fail to garner 80% votes, or simply no takers) ... But owners are asking for high premiums as they factored in the enbloc premium...
Even if you do up your unit nicely, there is a risk of water leakage by your neighbour into your unit. Sometimes, this can escalate into a legal matter.
These projects may also require more repairs or replacements. Again $$$.
Parent's home was enbloc. Having gone through one round, I personally will not buy with this objective. But I know people who like to invest in properties with enbloc potential.
One of the nightmares is to buy a house with water leakage ... during the period of house hunting...i had seen several houses across various developments with this water leakage problem...even projects which were only few yrs old...
The demage done to the parquet floorings, the built- in wardrobe...many more... :slapshead:
One of them, the water leakage was so bad ...that there was a musty smell in the entire house ...so much so that the owner needed to light scented candles during the house viewing....
Yup...def more repair works have to be done on such old projects...when it is too exp for residents to bear...they would rather vote against it...[/quote]Somethings very hard to vote against, like replacement of lifts or leakages so bad that it causes short circuit.
I know someone who experienced internal leaks shortly after renovating the house. Got to hack and redo. And there is no end to the leaking problem from neighbour's unit. -
Agreed totally for those old condos, giving a lot of problems.
Water leaking is one of the key issues and lifts also got problem. Visited one of my relative’s old condo in Orchard and only 2 lifts servicing 15 floors. The MCST sent a note to residents advising one lift would be on non-operational mode (10am-4pm daily ) due to heavy maintenance cost.
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login