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20 years), where the design and appearance of the condo are outdated, and facilities have been damaged by wear and tear over the years, leading to a price discount compared to newer condos.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 |
| 67 | Jan 2021 | Surrey Point | Freehold | 11 | 47 | 1,434 | Amara Holdings JV |
| 68 | Jan 2021 | 2, 4, 6 Mount Emily Road | Freehold | 5 | 18 | 1,115 | ZACD Group |
| 69 | Apr 2021 | Maxwell House | 99 | 41 | 276 | 1,539 | Chip Eng Seng Corp, SingHaiyi Investments and Chuan Investments |
| 70 | July 2021 | Flynn Park | Freehold | 208 | 371 | 1,355 | Hoi Hup Realty and Sunway Developments |
| 71 | Oct 2021 | Watten Estate | Freehold | 220 | 550 | 1,723 | UOL Group and Singapore Land Group |
| 72 | Dec 2021 | La Ville | Freehold | 47 | 152 | 1,540 | ZACD Group |
| 73 | Dec 2021 | Peace Centre Mansion | 99 | 76 | 650 | 1,426 | CEL Development, Sing-Haiyi Crystal and Ultra Infinity |
| 74 | Jan 2022 | Gloria Mansion | Freehold | 45 | 70 | 1,097 | Fraxtor Capital |
| 75 | Feb 2022 | Tanglin Shopping Centre | Freehold | 68 | 868 | 2,769 | Pacific Eagle Real Estate |
| 76 | Mar 2022 | Baode Building | Freehold | 11 | 27 | 1,007 | Amitabha Buddhist Society |
| 77 | Mar 2022 | Vicenta Lodge | Freehold | 21 | 27 | 968 | Not disclosed |
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Source: Compiled from Straits Times, various news articles
Photo of Mayfair Gardens: Knight Frank