SINGAPORE — With the en-bloc market stirring in Singapore while interest rates and property prices are rising, the stakes have gone up for both developers and property owners looking to jump onto the bandwagon for collective sales.
As of July this year, there have been a total of 12 collective sale deals amounting to nearly S$3.5 billion, trumping the S$2.2 billion from the 11 deals for the whole of last year. Ms Goh noted that the unsold stock of new private homes had dropped from a high of more than 36,000 units in the first quarter of 2019 to 15,805 in the second quarter of this year.
In the case of property owners, Mr Nicholas Mak, head of research and consultancy at ERA Realty, said that those who are price-conscious would have to “settle for a smaller unit” if they wish to use the proceeds from an en-bloc sale to buy a new property immediately.