A Minority Owner's chronicled journey through 3 Collective Sale attempts; the last one being successful. TC was a 560 ex-HUDC estate with a thriving community spirit (up until the enblocs that is). I have moved on to a new, 37 unit Freehold estate. Life is quiet now with zero community feeling.
I think TC should forget about en bloc for a couple of years - there are no less than 6 GLS sites coming up for sale in the first half of 2012 in our area:
It's a double wammy which I believe the government is definitely working hard to keep housing from going further up. By the hefty increase in stamp duties, it send signals to the developers that demand will come down. By announcing the GLS, the government is saying the supply will go up. In simple economic terms, price will come down. It means, developers, no matter how low the RP for TC en-bloc, if it is not lower than GLS, it is not worth the hassle because prices are coming down. This is the desired side effect is to slow or stop en-bloc indirectly. Because more than 500 families looking for homes with cash will spell more headaches for MND. Let me give you 2 cents worth. TC enbloc never learn lesson. The housing industry is always in a cycle, it goes up and it'll come down and up again. Prepare en-bloc when market is down with a positive outlook. It usually is down for 1.5 to 2 years. When the market turns, start getting the signatures for the very positive RP, because the market is hyped up, developers will be more willing to bid higher. Don't start the ball when market is up, because just when you are ready, the market turns down... 2 times already! But all this is too late... MND will curb housing prices till it's within the comfort level w.r.t. the outlook of the economy.
This is what the Developer's mindset is, they just must make money at everyone's expense: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1170030/1/.html
I think this is one time MND move that is rightly done; that is without consulting the industry. Because all the Developers want is to make money and didn't consult you or the government.
There is nothing exceptional about TC... The lease is reducing...large condo supply is coming on stream... More GLS is coming on stream.... Gone case.... Another 10 years...
@So this is the gem... You got the discussion wrong... The Discussion is that developers will not buy because of economic uncertainties, Government cooling measures and land sales, etc. It is a gem, good to see, feel, to live in. And if you want to sell as a unit, over a million dollars for a more than 20yrs old apartment!
It's a double wammy which I believe the government is definitely working hard to keep housing from going further up.
ReplyDeleteBy the hefty increase in stamp duties, it send signals to the developers that demand will come down. By announcing the GLS, the government is saying the supply will go up. In simple economic terms, price will come down.
It means, developers, no matter how low the RP for TC en-bloc, if it is not lower than GLS, it is not worth the hassle because prices are coming down.
This is the desired side effect is to slow or stop en-bloc indirectly. Because more than 500 families looking for homes with cash will spell more headaches for MND.
Let me give you 2 cents worth. TC enbloc never learn lesson.
The housing industry is always in a cycle, it goes up and it'll come down and up again.
Prepare en-bloc when market is down with a positive outlook. It usually is down for 1.5 to 2 years. When the market turns, start getting the signatures for the very positive RP, because the market is hyped up, developers will be more willing to bid higher.
Don't start the ball when market is up, because just when you are ready, the market turns down... 2 times already!
But all this is too late... MND will curb housing prices till it's within the comfort level w.r.t. the outlook of the economy.
This is what the Developer's mindset is, they just must make money at everyone's expense:
ReplyDeletehttp://www.channelnewsasia.com/stories/singaporebusinessnews/view/1170030/1/.html
I think this is one time MND move that is rightly done; that is without consulting the industry. Because all the Developers want is to make money and didn't consult you or the government.
There is nothing exceptional about TC... The lease is reducing...large condo supply is coming on stream... More GLS is coming on stream.... Gone case.... Another 10 years...
ReplyDeleteSo this is the gem u guys are talking about?? Good to see and feel but unsellable?
ReplyDelete@So this is the gem...
ReplyDeleteYou got the discussion wrong...
The Discussion is that developers will not buy because of economic uncertainties, Government cooling measures and land sales, etc.
It is a gem, good to see, feel, to live in. And if you want to sell as a unit, over a million dollars for a more than 20yrs old apartment!
I read this blog for its wealth of information.
ReplyDeletebut i have a feeling it is becoming more and more bias.
This is like TOC or TRE. Might as well call it anti enbloc of Tampines Court.
For the record, i am neutral on the sales, good price, all the better. bad price? dont sell. thats my take.