Risks for collective sales post the property cooling measures...



Contribution from one of the SPs.... (Source - EdgePro Singapore)


Higher risks for collective sales post the property cooling measures with some developments facing High Court proceedings while others could see developers backing out. Developments awaiting High Court proceedings, largely due to objections on grounds of the sales committee not having acted in good faith, include Brookvale Park in Sunset Way, The Wilshire, City Towers in Bukit Timah and Katong Park Towers in Mountbatten. This is on top of earlier reported cases such as Goodluck Garden on Toh Tuck Road and Cairnhill Mansions.

Other developments have extended their sales periods including Horizon Towers, Katong Plaza, Dalvey Court and Lakeside Apartments, while yet others have relaunched at a lower reserve price, such as Windy Heights, Sutton Place and Pinetree Condominium. Several deals remain in limbo, for example, on the Hollandia en bloc sale, the buyers, an 80/20 JV between Far East Consortium and Koh Brothers, have notified the sales committee that as the Outline Planning Permission had not been obtained, they would reserve the right to rescind and cancel the contract.

The S$907m sale of Tulip Garden to the 50/50 JV of MCL Land and Yanlord Land may have also been impacted by a requirement for the Pre-Application Feasibility Study on traffic impact.

(Source: EdgeProp Singapore)

Comments

  1. UnknownAugust 23, 2018 at 9:24 PM

    I am a Canadian expat living in Singapore for the past 12 years. I have lived in 6 different condos, with Teresa Ville being the most recent, and by far the best! I lived in a new development in Sengkang for the past 2 years at "1100 square feet" (of course it was much smaller than that - balcony and aircon ledges being counted). Teresa Ville is awesome, and if I owned a flat here, there is absolutely no way I would sell and move elsewhere. I truly hope the enbloc fails.

    ReplyDelete
  2. teresaville1005October 10, 2018 at 9:06 AM

    Despite things being quiet in september and october we should still keep the updates coming in Oct thru to the expiration of the EnBloc exercise ?

    ReplyDelete
  3. AnonymousOctober 29, 2018 at 8:57 PM

    I hope the en bloc fails thoroughly. So won’t have noisy and dirty construction going on. Then the prices will plummet when property market crash next year and can buy! Thank you for helping to block the en bloc!

    ReplyDelete

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