As investors look at private residential assets to meet their increasing curiosity in land acquisition, the collective sales sector set to pick up pace in 2021.
When Developers current inventory runs low and even when economy start to pick up pace, developers typically begin to pour big interests in the en bloc market.
Observing the on-going trends in real estate, marketing analysts have also pointed out how recent tenders released under the GLS or Government Land Purchases have been fiercely contested as government cut down on land sales.
The Tanah Merah Kechil link, which attracted as many as 15 bidders, was an example and a new record price was established in Tanah Merah at $930 psf ppr. In addition, they found that the GLS policy was quite conservative, renewing interest in the en bloc sector inevitably.
Typically, the availability of GLS is competitive and many show interest. In addition, when it becomes impossible for small developers to compete, they prefer to go to the block market to produce alternate outlets.
Developers often prefer to lean towards joint transactions when the position is more variable, tenancy will be 999-yr leasehold or freehold and is markedly different from GLS property sales that are leasehold tenure for 99 years.
An indirect wholly-owned subsidiary of TAN Chong International has issued a call option to a division of City Developments (CDL) to acquire its property, plant, and equipment located at Tan Chong Industrial Park for the sum of S$126.3 million.
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Hong Kong-listed Shun Tak Holdings reported that it had been successful in its proposal for the collective sale of High Point. The tender for the sale of the property had ended the previous evening.
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La Ville Condo in Tanjong Rhu was sold to ZACD Group for $152 million to ZACD Group. According to Tan Hong Boon, managing director of JLL, the exclusive marketing agency, the acquisition price of $152 million corresponds to a land rate of $1,540 psf per plot ratio (ppr).
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Thiam Siew Avenue, a small street with just 25 residences, is located between Tanjong Katong Road and Haig Road. Many of the homes are pre-war single-story semi-detached houses and bungalows with 9,000 to 10,000 square feet of land apiece.
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A tender for 22 plots across the two pieces of property concluded, after which a deal was struck. Thiam Siew Avenue, which is located between Haig Road and Tanjong Katong, is home to five bungalows and 10 pairs of semi-detached houses.
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