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List of successful enbloc in Singapore

We're updating a running list of projects which have successfully sold enbloc in Singapore since 2017. Do let us know if we missed out any!

Enbloc to support the continued increase in residential prices

The number of enbloc properties is a key factor to watch, as it is expected to support the continued increase in residential prices in the short-medium term. Lucky owners are receiving a big payout, and if that was their primary home, they will be forced to recycle this cash back into the property market. While some older folks may choose to downgrade to a HDB, this supports HDB prices and closes the price gap between HDB and condo, helping others to upgrade. In addition, an enbloc temporarily removes completed housing stock in Singapore for the period of the construction (up to 4 years), pushing up the rental market. 

How to spot condos that are likely to enbloc

Condos which are most likely to enbloc have a number of attributes. First, they are likely older developments (>20 years), where the design and appearance of the condo are outdated, and facilities have been damaged by wear and tear over the years, leading to a price discount compared to newer condos. Second, the development plot ratio has not been maximised. If a condo was built up to a plot ratio of 0.8x in the 1990s and the current URA master plan is now at 1.4x, the unutilised plot ratio can only be maximised by tearing down and rebuilding the condo in an enbloc. You can easily check the allowable plot ratio under the current URA master plan here: https://www.ura.gov.sg/maps/?service=MP. The existing development plot ratio is not that easy to find though, and you can check with the current MCST, or do a rough back of envelope calculation based on number of units and the average sizes of the 1,2,3,etc bedroom units. 

How do you calculate the price per square feet per plot ratio (psf ppr)?

For leasehold condos, the total land price paid by the developer to redevelop has 2 components. First, the price paid to existing residents, and second, the price paid to URA to top up the lease back to 99 years. For example, for Mayfair Gardens, the total land cost to the developer is $311m paid to existing residents, and $52m to URA, for a total of $363m. The condo has a land area of 19,368 sqm, which works out to ~208,477 sq.ft. Based on the latest URA Master Plan, the site has a Gross Plot Ratio of 1.4x, hence the developer can build to a GFA of 291,865 sq.ft. Taking the total land cost divided by the GFA, the psf ppr is $1,244.

 

No.

Date Project Tenure

Plot size

('000 sf)

Total price ($m) PSF ppr ($) Developer
1 May 2017 One Tree Hill Gardens Freehold 39 65 1,664 Lum Chang
2 May 2017 Rio Casa 99 396 575 706 Oxley consortium
3 Jun 2017 Eunosville 99 377 766 909 MCL Land
4 Jul 2017 The Albracca Freehold 23 69 1,409 Sustained Land
5 Jul 2017 Serangoon Ville 99 297 499 835 Oxley consortium
6 Aug 2017 Tampines Court 99 702 970 676 Sim Lian
7 Aug 2017 208 Yio Chu Kang Rd 99 14 8 - Oxley
8 Sep 2017 Sun Rosier Freehold 146 271 1,325 SingHaiYi
9 Sep 2017 Nanak Mansions Freehold 110 201 1,409 UOL associate
10 Sep 2017 Jervois Gardens Freehold 34 72 1,373 SC Global
11 Oct 2017 Amber Park Freehold 214 907 1,515 Hong Leong
12 Oct 2017 Normanton Park 99 661 830 969 Kingsford
13 Oct 2017 Florence Regency 99 389 629 842 Logan Property
14 Oct 2017 Changi Garden Freehold 200 249 888 Chip Eng Seng
15 Oct 2017 Dunearn Court Freehold 19 36 1,371 Roxy-Pacific
16 Nov 2017 Casa Contendere Freehold 38 72 1,638 Tee Land
17 Nov 2017 Mayfair Gardens 99 208 311 1,244 Oxley
18 Nov 2017 How Sun Park Freehold 55 81 1,092 Singhaiyi, Huajiang
19 Dec 2017 Royalville Freehold 174 478 1,960 Allgreen
20 Dec 2017 Crystal Tower Freehold 60 181 1,840 Allgreen
21 Dec 2017 Jervois Green Freehold 27 53 1,601 Mike Ho
22 Dec 2017 Derby Court Freehold 19 74 1,390 Roxy-Pacific
23 Dec 2017 Parkway Mansion Freehold 39 147 1,536 Sustained Land
24 Dec 2017 Vista Park 99 319 418 1,096  Oxley
25 Jan 2018 Park West 99 634 841 850 SingHaiyi
26 Jan 2018 Kismis View 99 91 103 941 Roxy-Pacific
27 Jan 2018 Wilshire  Freehold 39 99 1,536 Roxy-Pacific/TE2
28 Feb 2018 City Towers Freehold 105 402 1,847 Japura Development
29 Feb 2018 Pearlbank Apartments 99 82 728 1,515 CapitaLand
30 Feb 2018 Riveria Point Freehold 15 72 1,461 Macly Group
31 Feb 2018 Cairnhill Mansions Freehold 43 362 2,311 Low Keng Huat
32 Feb 2018 Brookvale Park 999 373 530 932 Hoi Hup Sunway
33 Mar 2018 Hollandia Freehold 54 183 1,703 FEC
34 Mar 2018 Toho Mansion Freehold 48 120 1,805 Koh Brothers
35 Mar 2018 Eunos Mansion Freehold 112 220 1,118 Fragrance Group
36 Mar 2018 Goodluck Garden Freehold 360 610 1,210 Qingjian
37 Mar 2018 Katong Park Towers 99 141 345 1,280 Bukit Sembawang
38 Mar 2018 Pacific Mansion Freehold 128 980 1,806 Guoco/Hong Leong
39 Mar 2018 Makeway View Freehold 42 168 1,626 Bukit Sembawang
40 Mar 2018 Fairhaven (Mt.Sophia) Freehold 17 57 1,629 Lafe Corp
41 Mar 2018 Ampas (Balestier) Freehold 30 95 1,073 Oxley
42 Apr 2018 Cairnhill Heights Freehold 15 73 1,873 Tiong Seng
43 Apr 2018 The Estoril (Holland) Freehold 85 224 1,654 Far East Consortium
44 Apr 2018 Katong Omega Freehold 28 46 1,255 Global Dragon
45 Apr 2018 Tulip Garden (Holland) Freehold 317 907 1,790 Yanlord/MCL
46 Apr 2018 Asia Gardens (Spottiswoode)  Freehold 72 343 1,565 Sustained Land
47 Apr 2018 Dunearn Gardens Freehold 95 468 1,914 EL Development
48 Apr 2018 Olina Lodge (Holland) Freehold 84 231 1,712 Kheng Leong
49 May 2018 Peak Court (Novena) Freehold 57 119 1,558 Tuan Sing
50 May 2018 Chancery Court (Newton) 99 259 402 1,610 Not disclosed
51 May 2018 Chinatown Plaza Freehold 34 260 1,915 RGE
52 May 2018 Landmark Tower (Chin Swee Road) 99 61 286 1,406 Not disclosed
53 June 2018 Park House (Orchard) Freehold 46 376 2,910 Shun Tak
54 June 2018 Kemaman Point (Balestier) 99 44 144 1,173 Soilbuild
55 June 2018 Teck Guan Ville (Upp East Coast) Freehold 42 ~60 ~1,300 Tee Land
56 July 2018 Casa Meyfort (Meyer Rd) Freehold 85 320 1,580 GuocoLand
57 Aug 2018 Phoenix Heights 999 43 33 553  OKP Holdings
58 Mar 2019 Selegie Centre Freehold 8 120 1,308  Peak Tower Corp
59 Jun 2019 Sophia View Freehold 4 9 1,056  Not disclosed
60 Jul 2019 2A/B-24A/B Phoenix Road 99  63 43 483  Qingjian
61 Dec 2019 Casa Sophia Freehold  12 29 1,120  Huang Yanhong and Zhang Zhiming.
62 Aug 2020 Yuen Sing Mansion Freehold 8 15  690  East Asia Geylang Development
63 Nov 2020  Fairhaven Freehold 17 43 1,239  Not disclosed
64 Nov 2020 Sophia Ville Freehold 7 19 1,239  Not disclosed
65  Dec 2020  Advance Apartment Freehold  11 28 828  Not disclosed
66  Jan 2021  93B, 93C, 95 Lorong N Telok Kurau Freehold  19 24 911   Not disclosed

 

Are you looking to sell your property?

Find out why you should appoint us as agents to sell your property. We now accept both auction sales and the normal private treaty sales. https://www.auctionjia.com.sg/our-services/hire-an-agent 

 

Source: Compiled from Straits Times, various news articles

Photo of Mayfair Gardens: Knight Frank

 
For the whole of 2020, private home prices rose by 2.2% compared with 2.7% increase in 2019. Non-landed property prices in the Core Central Region (CCR) increased by 3.3% while prices in the Rest of Central Region (RCR) and Outside Central Region (OCR) rose by 4.8% and 1.7% respectively. Landed property prices on the other hand fell 2.1% in this quarter. 
 
Singapore private property prices have risen to its highest in two years as the overall price index for private residential properties increased 2.1% from the 3rd Quarter to the 4th.  
 
"This compares with a 0.8% increase in the previous quarter", said the URA.
 
The 4th Quarter increase of 2.1% is the steepest quarterly increase since the jump of 3.4% in the 2nd Quarter of 2018. Joining countries such as the UK, US, Australia and New Zealand, Singapore's property market is proving its resilience through the recession and the Covid-19 pandemic with a surge in property prices through this hard time. A good reason for the increase could be the number of new launch condominiums fueled by low interest rates.
 
It is also predicted that the prices for private properties may increase 1% to 4% in 2021. 
 

COMPARISON OF PROPERTY PRICE INDEX FOR 3RD QUARTER 2020 AND 4TH QUARTER 2020

  Price Index1 % Change over Previous Quarter
3Q/20 4Q/20 3Q20 4Q/20
All Residential
(1Q09=100)
153.8 157.0 0.8 2.1

Landed 
Property

176.6 172.9 3.7 -2.1
Non-landed
Property
148.8 153.6 0.1 3.2
CCR2/ 129.5 133.8 -3.8 3.3
RCR3/ 153.8 161.2 2.5 4.8
OCR 180.4 183.5 1.7 1.7

(Source: URA Media Release) 

So you’re looking to purchase your very first HDB flat. You probably have a million questions running through your mind. How much money do I need to buy a flat? What grants can I apply for? Are there any income ceilings for HDB grants? Well, we’re here to help answer all your questions when it comes to HDB grants.

Before you think about what grants you’re eligible for, you first need to decide what type of flat you are looking to buy. Are you looking to buy a Build To Order (BTO), a resale flat or an Executive Condo (EC). The answer to this question is your starting point. 

In this article, we will be breaking down all the HDB grants that are available categorised under what type of housing you are applying for. Let’s start with the basics, BTO. 

*Something to take note: grants do change from time to time so make sure to cross check with the HDB website. This article is accurate to date.*

HDB Grants For BTOs

Before we talk about the grants available, let's get into the HDB income ceiling for BTOs. The current income ceiling for BTOs generally is $14,000. However it can differ for the types of flat that you choose. For example, the income ceiling for a 2-3 room flat can go as low as $7,000 and the income ceiling for larger flats like multi-gen flats can go up to $21,000. Now let's get into the grants!

The grant available for couples or families who choose to BTO is the Enhanced CPF Housing Grant (EHG). This grant ranges from $5,000 to $80,000. The HDB income ceiling for this grant is $9000. This means that if you and your spouse are looking to apply for this grant, your max total income combined should not exceed $9000. 

Singles above 35 years old are also able to qualify for this grant. However for singles, the income ceiling and grant range is halved. So a single with a monthly income of no more than $4,500 can apply and the grant range would instead be $2,500 to $40,000. This is also the same for Singaporean citizens with a foreign spouse. 

Why does the grant range vary so much? This is to help lower and middle class families afford a home. The lower your income ceiling, the higher the grant you get. 

Total max grant for BTO = $80,000

Read more: Your Complete Guide To HDB Grants!

If you came here to learn all about Additional Buyer Stamp Duty, or, ABSD, you have come to the right place. Below are some frequently asked questions about ABSD as well as some tips we can offer you on how to legally avoid it. If our article doesn’t answer any of your questions on ABSD, be sure to write in to us at sales@auctionjia.com.sg. So let’s begin shall we?

  1. What is ABSD?

ABSD was first introduced on the 8th of December 2011. In the simplest of terms, ABSD is a government tax that is typically charged on the purchase of a second and subsequent residential property. These include HDB flats, residential shophouses (ABSD not applicable on commercial shophouses), condos and landed properties. However ABSD is charged depending on the buyer’s residential status. 

 

  1. Why do we pay ABSD?

ABSD is a cooling measure implemented by the government to keep property prices affordable for Singapore citizens by managing the demand for residential properties. It also aims to discourage foreigners and other entities from purchasing residential properties, and more so multiple residential properties.

 

  1. Who needs to pay ABSD?

- Singaporean citizens who are purchasing a second and subsequent residential property. 
- Singaporean permanent residents (PRs) who are buying their first residential property. 
- Foreigners who are buying any residential property (except those under FTA*).
- Entities* buying any residential property.

* Foreigners under Free Trade Agreements (FTAs) include Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America.
* Entities refer to an 1. unincorporated association/ 2. a trustee for a collective investment scheme when acting in that capacity/ 3. a trustee-manager for a business trust when acting in that capacity/ 4. the partners of the partnership whether or not any of them is an individual, where the property conveyed, transferred or assigned is to be held as partnership property.

Read more: 9 things you need to know about ABSD and 10 tips to avoid it!

With the URA's release of its 3rd Quarter 2020 real estate statistics, we can learn that the private residential property index has increased since the 2nd Quarter. This increase can be seen in the table below. The increase of 1.2 points from 152.6 points in 2Q 2020 to 153.8 points in 3Q 2020 represents an increase of 0.8%, compared to the 0.3% increase in the previous quarter.

Specifically for condominiums (non-landed private residential properties), there was a strong performance in prices of condos in the Rest of Central Region (RCR) and Outside Central Region (OCR), while there was a sharp decline in the prices of condos in the Core Central Region (CCR). Prices in RCR increased 3.3%, compared to the 1.7% decrease in the previous quarter, and the prices in OCR increased by 1.7%, compared to the 0.1% increase in the previous quarter. Prices in CCR however has decreased by 4.9%, compared to the 2.7% increase in the previous quarter. This can be seen in the third chart below. 

COMPARISON OF PROPERTY PRICE INDEX FOR 2ND QUARTER 2020 AND 3RD QUARTER 2020

  Price Index1 % Change over Previous Quarter
2Q20 3Q20 2Q20 3Q20
All Residential (1Q09=100) 152.6 153.8 0.3 0.8
Landed Property 170.3 176.8 0.0 3.8
Non-landed Property 148.7 148.7 0.4 0.0
CCR2/ 134.6 128.0 2.7 -4.9
RCR3/ 150.0 155.0 -1.7 3.3
OCR 177.4 180.4 0.1 1.7
Read more: URA release of 3Q 2020 real estate statistics

How do I pick the right property agent? Now that you have decided to use a sales agent to assist you with either the sale of your property or your search to purchase a property, it is important to ask the right questions so to ensure that you are appointing a strong and reliable agent. In this article we will be covering all the things that you need to know and ask before you make the decision to appoint any specific agent. 

But if you are still thinking about whether you even need a sales agent, make sure to go to our last article by clicking here. In that article, we talk about everything  from the role of a property agent to what you can expect from an agent vs doing it yourself. 

So let’s begin shall we?

1. License

The first thing to do before appointing an agent is to check if they are licensed and registered with CEA (Council for Estate Agents). The CEA is a statutory board under the Ministry of National Development where they are responsible for the licensing of estate agents in Singapore. To check your agent’s registration all you have to do is to type in the agent’s name or registered mobile number to https://www.cea.gov.sg/public-register. The CEA is also who you can turn to if you have issues or a complaint against the conduct of your agent.

2. Experience

The second thing to check is the experience of your sales agent. Ask questions like how long have they been in real estate, what real estate company are they working for, what is their success rate, do they have a portfolio of closed transactions or active listings to show you, etc. These questions will reveal the strength of your sales agent. I mean it’s pretty straightforward. The more transactions (experience) they have, the better they are at handling your property through negotiations, deals or any problems that may occur. 

Read more: 7 Factors To Consider When Picking A Property Sales Agent!

As Singaporeans, one of our best qualities is our frugality. Wherever and whenever we can save the extra buck, we do it. And if there is an option to do it yourself, the better. But is it really worth skimping when it comes to buying and selling properties? There’s no doubt that you can buy or sell properties yourself. Hey, it’s the 21st century. It’s easy to just post your listing online, for free. But then again, should you?

A property agent’s job is more than just settling paperwork or posting properties online to bait buyers/sellers. In this article, we hope to broaden your mind to duties of your property sales agent and the many perks that come with finding a great agent.

In 2019, 81% of Sellers and 46% of Buyers used an agent (*data only available for HDB market)

It is crucial to make a distinction between buying and selling. The number of individuals buying property without an agent has undoubtedly increased over the years, with the ease of property portals providing individuals with the ability to search for relevant listings and information. On the other hand, we think sellers benefit the most from hiring an agent, and the market evidently agrees. With that in mind, let’s get started onto the first of five points on why you should use a property agent!

1. A smooth transaction aka an easy experience

It comes to no surprise that when you use a property agent your job will be 10 times easier. That’s the main reason why people hire agents in the first place right? Well, not really there’s a lot more to it than that. A smooth transaction only touches the surface. So what do we mean by that? To simply put it, your agent does everything. From the paperwork to dealing with buyer/seller enquiries, even the aggravating ones that waste your time, posting on property portals, coming up with creative ways to market your property, handling the property viewings, following up with interested parties, negotiating with the buyer or his agent, etc etc. 

Read more: 5 reasons why you need a property agent!