En bloc property market in Singapore showing increasing activity
The en bloc property market in Singapore appears to be gaining momentum, as evidenced by recent transactions. In the first months of 2021, the Good Class Bungalow (GCB) market had a strong start, and now en bloc deals are picking up as well. Surrey Point recently sold for S$47.8m, and the Mt Emily Rd site fetched S$18m in another transaction. These numbers reflect a growing activity in Singapore’s property market, particularly in the area of en bloc deals. With such transactions shaping the market, it will be interesting to see how this trend continues to develop in the coming months.
Surrey Point sold for S$47.8m in en bloc deal
In the bustling en bloc property market of Singapore, Surrey Point has been sold for an impressive S$47.8 million. The freehold residential development was acquired by an Amara Holdings joint venture, showcasing the high demand for prime real estate in the country. Alongside this sale, the Mt Emily Rd site also fetched S$18 million in another en bloc deal, highlighting the ongoing trend of properties being sold in bulk to turn a profit. As the market continues to show increasing activity, it’s clear that en bloc deals will continue to shape Singapore’s property landscape.
Mt Emily Rd site fetches S$18m in another en bloc deal
In yet another example of the surging en bloc property market in Singapore, the Mount Emily Road site has been sold for S$18 million. This freehold, three-storey residential property was part of a recent wave of en bloc deals that are shaping the city-state’s property market. The site joins Surrey Point, which was sold to an Amara joint venture for S$47.8 million in another recent en bloc transaction. The increasing activity in this market suggests that developers are becoming less risk-shy, while property owners are looking to cash-in on their investments. These deals are set to continue to impact and influence the country’s property market.
En bloc deals continue to shape Singapore’s property market
En bloc property deals have been a significant factor in shaping Singapore’s property market, as demonstrated by recent transactions. The sale of Surrey Point for S$47.8m and the Mt Emily Rd site for S$18m are just two examples of the increasing activity in this sector. En bloc deals provide developers with a unique opportunity to purchase multiple units in one go, allowing for economies of scale and potentially higher profits. However, these deals have also faced criticism from residents who may be forced to sell their homes and leave their communities. Despite this, the continued growth of en bloc deals reflects the evolving nature of Singapore’s property market, and developers are likely to continue to seek out these opportunities in the future.