For the old condo Orchid Park at Yishun, what's the chance of en-bloc if you buy now?

ngeo12

High Supremacy Member
Joined
Oct 10, 2005
Messages
27,010
Reaction score
0
Agent is urging me to write check, but one thing I am worried about is the event of en-bloc. With seller's stamp duty @ 16% for first year, en-bloc will probably make me lose $ in first few years. How big is the chance of an en-bloc pay you higher by 16% of marketing value?

The unit I intend to buy has excellent view and it's one of the better location in the condo. Far from the road, pool view.. balcony etc. so price is higher than the others of same floor area. Will en-bloc take these factors into consideration when it comes to compensation..

Thank you for your suggestion..
 

valkri

Member
Joined
Jun 10, 2003
Messages
464
Reaction score
1
Agent is urging me to write check, but one thing I am worried about is the event of en-bloc. With seller's stamp duty @ 16% for first year, en-bloc will probably make me lose $ in first few years. How big is the chance of an en-bloc pay you higher by 16% of marketing value?

The unit I intend to buy has excellent view and it's one of the better location in the condo. Far from the road, pool view.. balcony etc. so price is higher than the others of same floor area. Will en-bloc take these factors into consideration when it comes to compensation..

Thank you for your suggestion..

No, enbloc will not factor in your high floor, fantastic views and designer reno. You can always try, but if anyone knows of any successful case based on these criteria, pray tell.

Don't think Orchid Park is going to enbloc any time soon.

Can you share more info about the unit? psf?
 

tekster

High Supremacy Member
Joined
Aug 24, 2003
Messages
35,967
Reaction score
9
I doubt they will enbloc. If they do, all court to block it starting you lost money. Last time mine enbloc, other owners had to top up cause of one owner who lost money.
 

fandango

Great Supremacy Member
Joined
Dec 4, 2003
Messages
58,097
Reaction score
16,606
Orchid Park enbloc? Not happening in another 30 years.
 

tekster

High Supremacy Member
Joined
Aug 24, 2003
Messages
35,967
Reaction score
9
In fact, being a leasehold in Yishun, it will never be enbloc-ed.

not true lo. leasehold doesn't mean no good. it's just whether if the location is good for enbloc.

orchid condo not in a very good location le. i believe estuary might get enbloc first.
 

fandango

Great Supremacy Member
Joined
Dec 4, 2003
Messages
58,097
Reaction score
16,606
not true lo. leasehold doesn't mean no good. it's just whether if the location is good for enbloc.

orchid condo not in a very good location le. i believe estuary might get enbloc first.

Yes, leasehold enbloc depends very very much on location. In fact, your can count with one hand (five fingers) of leasehold enblocs in the history of singapore. It is that rare. Developers would not be willing to top-up the lease unless there are very good economical reasons. I am afraid Yishun is just not a very desirable district.
 

ngeo12

High Supremacy Member
Joined
Oct 10, 2005
Messages
27,010
Reaction score
0
high yield lo. i think easily 6 or 7% type one.

v hot in demand condo for tenants.

got meh? i asked an agent how much the rent a rental unit is fetching.. she said quite low and wont tell me the number..

Orchid Park enbloc? Not happening in another 30 years.

In fact, being a leasehold in Yishun, it will never be enbloc-ed.

who says.. they got talks of en-bloc already..

not true lo. leasehold doesn't mean no good. it's just whether if the location is good for enbloc.

orchid condo not in a very good location le. i believe estuary might get enbloc first.

but estuary location wise is worse? next to MRT track but farther from station.. what's more it's in the cross section of two big roads..

Yes, leasehold enbloc depends very very much on location. In fact, your can count with one hand (five fingers) of leasehold enblocs in the history of singapore. It is that rare. Developers would not be willing to top-up the lease unless there are very good economical reasons. I am afraid Yishun is just not a very desirable district.

but the location is quite near reservior right? if they build 30+ floor, then half of the units, i,e, those above 15th floor will be branded as reservior/nature reserve view and sell at a premium..
 

ngeo12

High Supremacy Member
Joined
Oct 10, 2005
Messages
27,010
Reaction score
0
I doubt they will enbloc. If they do, all court to block it starting you lost money. Last time mine enbloc, other owners had to top up cause of one owner who lost money.

dont understand the underlined.. i thought as long as 90% vote yes.. then they will go? are there any law saying as long as one losing money, the en-bloc is blocked?


No, enbloc will not factor in your high floor, fantastic views and designer reno. You can always try, but if anyone knows of any successful case based on these criteria, pray tell.

Don't think Orchid Park is going to enbloc any time soon.

Can you share more info about the unit? psf?

that's bad.. :( $750/sqft.. quite expensive but need a place to stay.. :(
 

valkri

Member
Joined
Jun 10, 2003
Messages
464
Reaction score
1
dont understand the underlined.. i thought as long as 90% vote yes.. then they will go? are there any law saying as long as one losing money, the en-bloc is blocked?




that's bad.. :( $750/sqft.. quite expensive but need a place to stay.. :(

Guess yours is about 958sf? Well if there are no particular attraction of Orchid Park to you except price, you can actually find cheaper psf ECs, e.g. in the Jurong area, or even Florida is cheaper.

Frankly, enbloc is the least of your worries at this juncture, focus your time on making a right choice in financial sense.
 

ngeo12

High Supremacy Member
Joined
Oct 10, 2005
Messages
27,010
Reaction score
0
Guess yours is about 958sf? Well if there are no particular attraction of Orchid Park to you except price, you can actually find cheaper psf ECs, e.g. in the Jurong area, or even Florida is cheaper.

Frankly, enbloc is the least of your worries at this juncture, focus your time on making a right choice in financial sense.

I went to see two units at the Florida @ Hougang already, the units are all so big and my cash+CPF is not enough.. the Orchid park is the only one that I am happy with the environment and within my budget..

Do they have ECs at Jurong? I thought prices are Jurong East are rocket high due to the business development at Jurong East..
 
Last edited:

valkri

Member
Joined
Jun 10, 2003
Messages
464
Reaction score
1
There is Westmere in Jurong, and Windermere someWhere in the west too. For Florida, I thought the price psf was below $700 the last time I checked. Besides big condos, there are some old walkup apartments and those above shops you can look into.
 

ngeo12

High Supremacy Member
Joined
Oct 10, 2005
Messages
27,010
Reaction score
0
There is Westmere in Jurong, and Windermere someWhere in the west too. For Florida, I thought the price psf was below $700 the last time I checked. Besides big condos, there are some old walkup apartments and those above shops you can look into.

thank you.. i went to see Windermere and it was nice.. Actually I like Quintet better.. All above my budget of of up to $750k though.. :(
Plus in that kind of places, rental yield is not so good..
 

fandango

Great Supremacy Member
Joined
Dec 4, 2003
Messages
58,097
Reaction score
16,606
who says.. they got talks of en-bloc already..

"they" refers to the residence,developer or hear-say.

Orchid Park is almost 20 years old. The value will start to dip steeply once you hit 25 years old for leasehold property. The top up charges would be so costly that there is absolutely no impetus for the developer to build or to make an offer to the residents for en-bloc.

I hope you have yet to sign the OTP. Consider other options.
 

ngeo12

High Supremacy Member
Joined
Oct 10, 2005
Messages
27,010
Reaction score
0
"they" refers to the residence,developer or hear-say.

Orchid Park is almost 20 years old. The value will start to dip steeply once you hit 25 years old for leasehold property. The top up charges would be so costly that there is absolutely no impetus for the developer to build or to make an offer to the residents for en-bloc.

I hope you have yet to sign the OTP. Consider other options.

thank you for your input.. very grateful.. luckily i havent OTP yet..
 

valkri

Member
Joined
Jun 10, 2003
Messages
464
Reaction score
1
thank you for your input.. very grateful.. luckily i havent OTP yet..

Perhaps you shouldn't rule out OP yet, as you seem to have done your homework and legwork. Observations offered here are generic but you have done recent and targeted research into it. If the price is good, and the estate is attractive to you, why not? What are your alternatives?

Apparently, OP has a trend of renting out rooms for about $1k. Maybe some owners do not like this in their neighborhood, but could be ideal for you.
 

ngeo12

High Supremacy Member
Joined
Oct 10, 2005
Messages
27,010
Reaction score
0
Perhaps you shouldn't rule out OP yet, as you seem to have done your homework and legwork. Observations offered here are generic but you have done recent and targeted research into it. If the price is good, and the estate is attractive to you, why not? What are your alternatives?

Apparently, OP has a trend of renting out rooms for about $1k. Maybe some owners do not like this in their neighborhood, but could be ideal for you.

well, left hand short term interest right hand long term..
now get high rental is ok.. but i dont think i could afford topping up a large chunk of cash in when the house reaches certain age..

no much choice.. sometimes i think i am on the route to go another country and wait and dream the market could crash..
 

valkri

Member
Joined
Jun 10, 2003
Messages
464
Reaction score
1
well, left hand short term interest right hand long term..
now get high rental is ok.. but i dont think i could afford topping up a large chunk of cash in when the house reaches certain age..

no much choice.. sometimes i think i am on the route to go another country and wait and dream the market could crash..

Top up charges are only for enbloc developer who wants to redevelop the estate and launch a new condo with a fresh 99-year LH.

If the condo is not enbloc'd, you just have to pay maintenance and sinking funds regularly. If the MC is good, sinking funds accumulated slowly through the years should take care of important repairs and replacements.
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top