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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20 years), where the design and appearance of the condo are outdated, and facilities have been damaged by wear and tear over the years, leading to a price discount compared to newer condos.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.

Month Project Tenure

Plot size

('000 sf)

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

 

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