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Enbloc potential?

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Close Encounter
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Enbloc potential?

Postby Close Encounter » Tue, 25 Oct 2005 4:53 am

Any kind soul out there who can explain to me the meaning of the word 'enbloc potential' ? If the property is a townhouse but with enbloc potential, is it best not to buy because there will BIG problems in the future? If a buyer do decide to buy the property what kind of problems can he or she expect to face?
The property I saw is called Loyang Lodge, 53 years old ( a bit older compared to our house in the U.K. but pretty old in Singapore standards?) and 999 years leasehold. Is there a website in Singapore that shows whether an enbloc sales has been agreed for the estate.
If there is an enbloc potential why are the sellers selling the townhouses now?

I hope all this makes some sense.......because I'm totally confused.

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Baron Greenback
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Postby Baron Greenback » Tue, 25 Oct 2005 11:44 am

From what I understand enbloc means that the estate owners are considering selling the whole block to a developer. To knock it down & build another one.

If I were you I would consider renting as most expats do out here.
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yoongf
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Re: Enbloc potential?

Postby yoongf » Tue, 25 Oct 2005 5:00 pm

Close Encounter wrote:If there is an enbloc potential why are the sellers selling the townhouses now?

I hope all this makes some sense.......because I'm totally confused.


"Potential" simply means potential. Some owners don't want to/ can't wait for the potential to be realised.

Don't rush into buying property in Sg, due to the high capital investment. Better to rent first to get a feel of the market before making such a decision.

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Wind In My Hair
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Postby Wind In My Hair » Tue, 25 Oct 2005 8:55 pm

most older developments with low-rise buildings but approved for higher plot ratios tend to be marketed by real estate agents as having en-bloc potential. it means there may be a significant capital appreciation at some point in the future, if at all, if a developer steps in to buy the whole development to build newer condos, as baron pointed out.

if you really want to buy, it's worth checking with residents there whether an offer has ever been made by a developer and when and what the price offered was. this will indicate how 'real' the potential is. also how many percent of the residents were willing to sell, cos you need a majority of 80% or something like that for an en-bloc sale to go through.

best to check with a reliable housing agent. mine is just a layman's understanding.


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