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.