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#1

Posted 21 October 2009 - 10:07 AM

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anybody here who is familiar with enbloc sales?

if a place currently have 80+ units and sitting on a land size of 61000sqft....and there's an enbloc potential to redevelop it with a plot ratio of 2.8, then if you are an existing owner, then how much money should you ask for?

location is near town area...and is a pretty popular location.
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#2

Posted 21 October 2009 - 10:40 AM

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anybody here who is familiar with enbloc sales?

if a place currently have 80+ units and sitting on a land size of 61000sqft....and there's an enbloc potential to redevelop it with a plot ratio of 2.8, then if you are an existing owner, then how much money should you ask for?

location is near town area...and is a pretty popular location.



i tot it depends on the share ratio of your apartment?
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#3

Posted 21 October 2009 - 10:46 AM

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Not enough info how to answer your question.
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#4

Posted 21 October 2009 - 11:15 AM

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So ur development is gng for enbloc?Nvr check wif ur appointed agents?

#5

Posted 21 October 2009 - 11:15 AM

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If this is your one and only property, then the layman formulation will most probably be:

Asking price = (how much it will cost you to get a same size same condition unit back in the same area X adjustment for 2~3 yrs inflation X adjustment for asset appreciation in the next 2~3 years) + how much interests you got to pay back to the bank + whatever profit amount that will keep you happy for the incocvenience of shifting

Once you add all those, then you will realise how much the developer is willing to offer is simply peanuts. Now you know why some residents are so opposed to enbloc sales.... tongue.gif

However if the majority of the owners are investors, then those owner-occupiers will be screwed big time... wave.gif
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#6

Posted 21 October 2009 - 11:58 AM

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what is share ratio?
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tohdj

#7

Posted 21 October 2009 - 11:59 AM

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Not enough info how to answer your question.


what other information is needed?
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tohdj

#8

Posted 21 October 2009 - 12:03 PM

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At least must give us the market price
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#9

Posted 21 October 2009 - 12:04 PM

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If this is your one and only property, then the layman formulation will most probably be:

Asking price = (how much it will cost you to get a same size same condition unit back in the same area X adjustment for 2~3 yrs inflation X adjustment for asset appreciation in the next 2~3 years) + how much interests you got to pay back to the bank + whatever profit amount that will keep you happy for the incocvenience of shifting

Once you add all those, then you will realise how much the developer is willing to offer is simply peanuts. Now you know why some residents are so opposed to enbloc sales.... tongue.gif

However if the majority of the owners are investors, then those owner-occupiers will be screwed big time... wave.gif


the unit is fully paid up...and we are not staying there. hoping to sell it for high profit...and then buy other locations for investments.

the majority are investors. but the owner-occupiers are willing to sell out however they are hoping for a better price, as they sell high now, they will also be buying high in the vicinity. so they hope to sell higher and buy high.

there's 80+ units...but i suspect the developer can rebuild it into a 100++ to 200++ units development. so i was thinking if the owners can ask for more $$$.
Regards

tohdj

#10

Posted 21 October 2009 - 12:05 PM

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market price to sell individually?

District 12....balestier area. i need some time to check. will update later.
Regards

tohdj

#11

Posted 21 October 2009 - 12:10 PM

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market price to sell individually?

District 12....balestier area. i need some time to check. will update later.


Yap.

Cause at least if we got the market value price, we will be able to tell what is the market going. From there we can try to guess what is a ideal cost.
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#12

Posted 21 October 2009 - 12:11 PM

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the unit is fully paid up...and we are not staying there. hoping to sell it for high profit...and then buy other locations for investments.

the majority are investors. but the owner-occupiers are willing to sell out however they are hoping for a better price, as they sell high now, they will also be buying high in the vicinity. so they hope to sell higher and buy high.

there's 80+ units...but i suspect the developer can rebuild it into a 100++ to 200++ units development. so i was thinking if the owners can ask for more $$$.


Actually this depend also. cause some time they put plot ratio as 2.8, the governement might have some hidden agenda inside like say, height limit. (air plane path way.) but seeing that its at Balastial i think that shouldent be a problem.
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#13

Posted 21 October 2009 - 12:34 PM

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what is share ratio?


A share ratio in an en bloc sale depends on how big your property is. For eg a 2 bedroom apartment will be alotted a 2 share ratio or a townhouse in a condo may be issued with a 5 share ratio. It really depends. The amount of money you get from the enbloc sale will then be calculated from your share ratio against the reserve price obtained from the sale.

#14

Posted 21 October 2009 - 01:03 PM

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our unit is 159 sqm and it is freehold.

according to URA website...the transactions for 1100~1300++ sqft units are 600k ~ 700+++++k. i am not sure if they are freehold or 99 years.

KIM KEAT GARDENS KIM KEAT ROAD Apartment 1 620,000 1,324 Strata 468 Jan-09 KIM KEAT LODGE KIM KEAT ROAD Apartment 1 663,000 1,378 Strata 481 Feb-09REGAL COURT KIM KEAT ROAD Apartment 1 770,000 1,163 Strata 662 Aug-09 REGAL COURT KIM KEAT ROAD Apartment 1 628,000 1,173 Strata 535 Dec-08 REGAL COURT KIM KEAT ROAD Apartment 1 690,000 915 Strata 754 Jun-09N.A. KIM KEAT ROAD Apartment 1 628,000 1,281 Strata 490 Jul-09 N.A. BALESTIER ROAD Apartment 1 530,000 1,324 Strata 400 Dec-08 N.A. KIM KEAT ROAD Apartment 1 775,000 1,525 Strata 508 Sep-09
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#15

Posted 21 October 2009 - 01:04 PM

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the height limit should be pretty high if we look at developments like twin heights, calarasi, etc etc
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#16

Posted 21 October 2009 - 01:06 PM

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A share ratio in an en bloc sale depends on how big your property is. For eg a 2 bedroom apartment will be alotted a 2 share ratio or a townhouse in a condo may be issued with a 5 share ratio. It really depends. The amount of money you get from the enbloc sale will then be calculated from your share ratio against the reserve price obtained from the sale.


there's a few units of shophouses...maybe 6 or 8. and about 22 units of 4-room units with floor size of 159sqm +-....and the rest of the units are 3-room units with floor size of 120sqm.

i tot they will sell via psf?
Regards

tohdj

#17

Posted 21 October 2009 - 01:12 PM

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from what i remember,

share ratio means eg: 150 and your share ratio is 2 so you get 2/150 of the sale. This share ratio also will determine how much you get out of the sinking fund. i.e the excess money that is acculmulated from the monthly maintainence you pay. though everyone may pay the same monthly but it does not mean everyone will get back the same money from the sinking fund.

plot ratio means how high the developer can build before paying for the additional height. So though you may see tall apartments around your place, it only shows they can build that high but how much they have to pay will depend on your plot ratio. eg: land is 100,000sqft...... so if plot ratio is 1.5 then it means the building can have a buildup area of 150,000sqft.

hope is correct info.

Edited by Galantspeedz, 21 October 2009 - 01:36 PM.

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#18

Posted 21 October 2009 - 01:14 PM

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there's a few units of shophouses...maybe 6 or 8. and about 22 units of 4-room units with floor size of 159sqm +-....and the rest of the units are 3-room units with floor size of 120sqm.

i tot they will sell via psf?



when a developer buy your place... they are buying the land rather than your house... to them your house is obsolete as it will be torn down.......

just call the management and ask for your share ratio.... and on the way you can ask them how much is the sinking fund now.
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#19

Posted 21 October 2009 - 01:14 PM

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the height limit should be pretty high if we look at developments like twin heights, calarasi, etc etc


then the rest should depend on how much is the market price liao. But one thing to note though. The current market, i dont think its possible to get a 100% over market price liao.
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#20

Posted 21 October 2009 - 02:36 PM

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Wow, there's a lot of questions here.

First of all, is there an enbloc sales committee? When were they appointed and is it representative of the development?

1. The enbloc sales committee should ask for three quotes from three different agents on what they think the place can sell for
2. Check the terms and conditions of the agents
3. Can do an "indication of interest" to really see how many want to sell (non binding)
4. Be aware that once you formally start the process your unit becomes HARD to sell, until the process either lapses or finishes
5. What share of the proceeds you will get in the case of an enbloc doesn't neccessarily follow your share value - the enbloc committee will set a policy on how the proceeds are to be distributed in the case of a sale.

This is just for a start.....
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