Next Block en bloc

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louy
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Next Block en bloc

Post by louy » Wed, 22 Oct 2014 10:17 am

Apartment search is tough, but I hear the market is good

Found one apartment which tick most the right boxes. But the agent told me the next building has just been En Bloc. Agent said the building is due to uncertainty.

What are the risks of going for this place ?
If the next block is going to be demolished and rebuilt, what sort of time frame will it be ? Is there any planning application process they will be restrictes to ?

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x9200
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Post by x9200 » Wed, 22 Oct 2014 10:59 am

Are you concerned about the risk your place will go enbloc too or about the demolition/construction noise? Both - nobody on this forum possibly knows, but when demolition and construction starts it can be anything from 1y to 5y or so. If the old building is a big one it can take even half a year just to hammer it down and the noise is unbearable in ANY adjacent building. If the construction reached the stage where all the foundation piles are already hammered down (this also can take time) then there is no problem with it especially for high floor apartments.

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ecureilx
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Re: Next Block en bloc

Post by ecureilx » Wed, 22 Oct 2014 11:34 am

louy wrote:Apartment search is tough, but I hear the market is good

Found one apartment which tick most the right boxes. But the agent told me the next building has just been En Bloc. Agent said the building is due to uncertainty.

What are the risks of going for this place ?
If the next block is going to be demolished and rebuilt, what sort of time frame will it be ? Is there any planning application process they will be restrictes to ?
en bloc if all signed off and nobody living then expect demolition fast

I lived in a place in River valley, after en bloc took two years before we left. as some owners hadn't agreed as I understood

expect 1 year of peace if the sale just went through .. minimum ...

the good news for your unit is, en block sort of slowed down, and less people are speculating on en bloc ...

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Re: Next Block en bloc

Post by louy » Thu, 23 Oct 2014 9:11 am

ecureilx wrote:
en bloc if all signed off and nobody living ...
This is the status of that building

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ecureilx
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Re: Next Block en bloc

Post by ecureilx » Thu, 23 Oct 2014 1:48 pm

louy wrote:
ecureilx wrote:
en bloc if all signed off and nobody living ...
This is the status of that building
oh, then you better start securing your windows and all, :twisted:

in your case, seriously, all depends on the developer/market forces ..

louy
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Re: Next Block en bloc

Post by louy » Thu, 23 Oct 2014 11:41 pm

ecureilx wrote:
louy wrote:
ecureilx wrote:
en bloc if all signed off and nobody living ...
This is the status of that building
oh, then you better start securing your windows and all, :twisted:

in your case, seriously, all depends on the developer/market forces ..
Will prepare for the worst and hope for the best !

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Re: Next Block en bloc

Post by taxico » Sat, 25 Oct 2014 4:27 pm

louy wrote:Found one apartment which tick most the right boxes. But the agent told me the next building has just been En Bloc. Agent said the building is due to uncertainty.

What are the risks of going for this place ?
If the next block is going to be demolished and rebuilt, what sort of time frame will it be ? Is there any planning application process they will be restrictes to ?
where is this place and how old is it?

if it gets torn down, it will take a few years to be built up again (longer if it's big high rise development) and all units must be sold within 5 years from date of TOP. developers prefer to sell as many units as possible before TOP is obtained, and the rest to be cleared asap - but right now is not the time to build, i would think.

depending on the location and building's age, developers may choose to buy, do a light refurbish and rent out all units until time is right to redevelop/sell. others may choose to sit on it (property tax bill) or tear the roofs off/total demolition to reduce tax.

if the price and location is right, it's just a gamble you'll have to take.
Aut viam ad caelum inveniam aut faciam

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