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20 years), where the design and appearance of the condo are outdated, and facilities have been damaged by wear and tear over the years, leading to a price discount compared to newer condos.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

 

Collective Sale Launches 2021

No. Project Tenure

Asking /
Indicative Price ($m)

Current Use Region Land Area (sf) Number of Units Current Status
1 Surrey Point Freehold 55 Residential Non-Landed CCR 11,977 9 Sold For $47.8m
2 2,4,6 Mount Emily Road Freehold 18 - CCR 5,549 3 Sold For $18m
3 The Bayron Freehold 376 Residential Non-Landed CCR 56,841 96 Open
4 High Street Plaza 999 239 Commercial CCR 13,229 - Private Treaty Stage
5 Queen Astrid Gardens Condominium 999 123.8 Residential Non-Landed CCR 62,237 16 Open
6 Kai Fook Mansion Freehold 123 Residential With Commercial At 1st Story RCR 15,896 32 Residential 10 Commercial Open
7 Fortune Park Freehold 116.5 Residential Non-Landed OCR 44,878 68 Open
8 Dublin Lodge Freehold 67.55 Residential Landed CCR 27,020 8 Open
9 Duke's Road Freehold 62.5 Commercial And Residential CCR 16,479 12 Private Treaty Stage
10 Jansen Mansion 999 19.8 Residential Non-Landed CCR 16,593 12 Open

 

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Source: Compiled from Straits Times, various news articles

Photo of Mayfair Gardens: Knight Frank