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Analysts generally agreed that older developments unlock greater value. Projects with relatively low existing plot ratios, sizeable land parcels, ageing buildings, or locations that have benefited from improved transport links and amenities are likely to attract developer interest, said Mr Sandrasegeran.<\/p>\n
Older freehold developments may be especially appealing, although well-located 99-year leasehold projects could also remain viable, he added.\u00a0<\/p>\n
According to <\/span>official government records,\u00a0m<\/span>ore than 360,000 private non-landed residential units are currently below 40 years, while 20,000 private non-landed residential units are above 40 years.\u00a0<\/span><\/p>\n Huttons Group senior director of data analytics Lee Sze Teck estimated there are around 150 private non-landed developments aged between 40 and 59 years, and fewer than 10 developments aged 60 years and above that could potentially benefit from the revised thresholds.<\/p>\n About 40 per cent of these older developments are located in Districts 9, 10 and 11 in Singapore’s core central region, potentially increasing the likelihood of successful en bloc sales in areas with relatively limited Government Land Sales supply, he added.\u00a0<\/p>\n ERA Singapore chief executive Marcus Chu said the lower thresholds would give more ageing estates the opportunity to enter the collective sale market and could “turn the spotlight back” on en bloc sales, particularly when combined with the recent extension of developers’ Additional Buyer’s Stamp Duty (ABSD) remission timelines for large projects.<\/p>\n He added that ageing condominiums built to lower plot ratios, particularly those in mature estates with little undeveloped land, could be comprehensively redeveloped to make better use of scarce land.\u00a0<\/p>\n Commenting on the proposed amendments, PropNex chief executive officer Kelvin Fong\u00a0<\/strong><\/span>said some of the unsuccessful en bloc developments in the past, such as Braddell View, Laguna Park and Pine Grove, could potentially yield significantly more homes if redeveloped under current planning parameters.\u00a0<\/p>\n Mr Mohan said securing the final tranche of consent can be particularly difficult in larger or older estates, even where a substantial majority of owners supports redevelopment.<\/p>\n The proposed changes could encourage developments whose previous en bloc attempts narrowly missed the required consent level to return to the market, he said.\u00a0<\/p>\n However, he does not expect the amendments alone to trigger a broad-based en bloc boom.\u00a0<\/p>\n “Developers will continue to compare collective sale sites against Government Land Sales opportunities,” Mr Sandrasegeran said.<\/p>\n “Unlike state land tenders, en bloc acquisitions can involve lease top-up premiums, development charges, demolition costs, complex site conditions and longer transaction timelines.\u201d<\/p>\n<\/div>\n OLDER DEVELOPMENTS Analysts generally agreed that older developments unlock greater value. Projects with relatively low existing plot ratios, sizeable land parcels, ageing buildings, or locations…<\/p>\n","protected":false},"author":1,"featured_media":74193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s---pKYkaau--\/c_crop,h_842,w_1498,x_0,y_0\/c_fill,g_auto,h_676,w_1200\/fl_relative,g_south_east,l_mediacorp:cna:watermark:2021-08:mediacorp,w_0.1\/f_auto,q_auto\/v1\/mediacorp\/tdy\/image\/2024\/02\/15\/20230215_nlx_private_property-2.jpg?itok=fz-_0z8-","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[904,10238,6233,27678,2586,4555,5923,27679],"class_list":["post-74192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-analysts","tag-bloc","tag-boom","tag-consent","tag-market","tag-proposed","tag-revive","tag-thresholds","wpcat-2-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/74192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=74192"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/74192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/74193"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=74192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=74192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=74192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}EN BLOC BOOM?<\/h2>\n
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