Thomson View En-Bloc

[scanner007]

I don’t think this chap is pure lucky. I suspect he already bio this condo closely for resale units. Not surprise if it’s agent or tip off by existing owners. They usually know the potential payout from those previous enbloc attempts and know even 12% SSD is still peanuts compare to the gain.

Still lucky isn't it? The original seller could choose not to sell him/her?

 

[Oftheseas]

Still lucky isn't it? The original seller could choose not to sell him/her?

Yes, still lucky that the enbloc process started so soon after his purchase.

 

[Clazav]

I don’t think this chap is pure lucky. I suspect he already bio this condo closely for resale units. Not surprise if it’s agent or tip off by existing owners. They usually know the potential payout from those previous enbloc attempts and know even 12% SSD is still peanuts compare to the gain.

The previous owner is a shuei chap. Minimal no sensing of the neighbours' intention. This lucky chap might be the agent helping to push for the En bloc.

 

[Dixon.]

My friend's gamble of purchasing it in 2016 might finally pay off.
the previous 2018 enbloc made him sian 1/2 already.

His sole reason to purchase was purely for enbloc...

 

[Oftheseas]

The previous owner is a shuei chap. Minimal no sensing of the neighbours' intention. This lucky chap might be the agent helping to push for the En bloc.

We need more sellers like this previous owner. Otherwise there’s not enough sellers in the market now and resale price is shooting up as we saw on the recent condo resale data.

If the unofficial estimation of 60-70 condos now undergoing enbloc process, it could mean more than 20,000 units (if average of 300 units per condo) taken off the resale market for at least 15 months. And these condos are usually in better locations with good attributes.

 

[1993newbie]

going back history
https://www.srx.com.sg/singapore-pr...id-to-sell-en-bloc?utm_medium=TheStraitsTimes

 

[Oftheseas]

going back history
https://www.srx.com.sg/singapore-pr...id-to-sell-en-bloc?utm_medium=TheStraitsTimes

I believe this failure was due to the aftermath of its earlier high profile legal battle in court. Owners were hit with ten of thousands of legal cost and were very stressful ( they committed to new purchase and cancellations).

This time can get 80% mandate with same payout is considered lucky. Maybe they learn their lesson.

 

[Passerboy]

going back history
https://www.srx.com.sg/singapore-pr...id-to-sell-en-bloc?utm_medium=TheStraitsTimes

I doubt the enbloc would succeed this time round either. Nearby Thomson View got the AMK site to launch next year, Jadescape is entering resale and Faber Garden (FH) oso intending to go enbloc. Plenty of supply around the hood, not sure about our demand.

 

[Dixon.]

I believe this failure was due to the aftermath of its earlier high profile legal battle in court. Owners were hit with ten of thousands of legal cost and were very stressful ( they committed to new purchase and cancellations).

This time can get 80% mandate with same payout is considered lucky. Maybe they learn their lesson.

Another reason is the apportionment was 60 40.

So couldn't get the signatures...

 

[Oftheseas]

My friend's gamble of purchasing it in 2016 might finally pay off.
the previous 2018 enbloc made him sian 1/2 already.

His sole reason to purchase was purely for enbloc...

To buy for the intention to profit from enbloc is very risky, even if you have a huge war chest.

If enbloc do not happen within 3/4 years, you are stuck with a property that could be a burden. The rental yield is lousy as estate is old/poor maintenance and owner not willing to renovate. It’s also one count of ABSD hindering your future purchase.

Worse is your property will suffer a big drop in value immediately after a failed enbloc attempt !

 

[scanner007]

Worse is your property will suffer a big drop in value immediately after a failed enbloc attempt !

Interesting , any data of past cases to share on such drop?

 

[Oftheseas]

Interesting , any data of past cases to share on such drop?

No official data, unless Stacked is going to do a research article on this.

But if you comb through the resale price of condos that failed enbloc, the selling price is usually lower (within 6 months of failure) than the selling price in the 6 months prior to forming of enbloc CSC. I know of some units in a couple of estates, the drop was more than 10%.

 

[Dixon.]

To buy for the intention to profit from enbloc is very risky, even if you have a huge war chest.

If enbloc do not happen within 3/4 years, you are stuck with a property that could be a burden. The rental yield is lousy as estate is old/poor maintenance and owner not willing to renovate. It’s also one count of ABSD hindering your future purchase.

Worse is your property will suffer a big drop in value immediately after a failed enbloc attempt !

I do agree.

That's why he's able to reap the fruits now assuming success in January.

 

[CaptainSGP]

To buy for the intention to profit from enbloc is very risky, even if you have a huge war chest.

If enbloc do not happen within 3/4 years, you are stuck with a property that could be a burden. The rental yield is lousy as estate is old/poor maintenance and owner not willing to renovate. It’s also one count of ABSD hindering your future purchase.

Worse is your property will suffer a big drop in value immediately after a failed enbloc attempt !

That was back in 2016 before absd is increased to 12%. Investing for en bloc has more imo now has more risks than rewards.

 

[CaptainSGP]

Tan Kin Lian describing his experience with Thomson View en bloc. He owns 2 units there. This is actually the 6th attempt at en bloc.

https://fisca.sg/ArticleDisplay.asp...ple-of-Thomson-View&Type=A&Category=&Keyword=

 

[CaptainSGP]

going back history
https://www.srx.com.sg/singapore-pr...id-to-sell-en-bloc?utm_medium=TheStraitsTimes

Quite a smart idea by Tan Kin Lian to incentivise owners to sign up for the en bloc.

"Mr Tan suggested that a fairer approach would be for thecollective sale agreement to state "that in the event of a successful sale, a certain percentage of the total sales proceeds, not exceeding 0.5 per cent, may be set aside to be distributed among the signing owners for the risk that they have taken"

 

[Passerboy]

Tan Kin Lian describing his experience with Thomson View en bloc. He owns 2 units there. This is actually the 6th attempt at en bloc.

https://fisca.sg/ArticleDisplay.asp...ple-of-Thomson-View&Type=A&Category=&Keyword=

He is super cash rich, think he posted he holds a huge amount of Tesla shares haha..

 

[CaptainSGP]

He is super cash rich, think he posted he holds a huge amount of Tesla shares haha..

Lol I wonder whether it's real or BS. Weird for someone to 'flaunt' his earnings to the public ?

 

[Oftheseas]

Lol I wonder whether it's real or BS. Weird for someone to 'flaunt' his earnings to the public ?

It should be true that he own unit in Thomson View as he was previous CSC Chairman.

As for Tesla shares, I don’t think he own large enough shares to ask for our opinion on whether he can sell or not !

 

[Potato_Wedges]

Should be successful this round. Took only 6 mths to reach 80%.
Now is Which developer dares to makan this huge land. Plus how much they willing to compensate. Can owners withdraw if sum doesn't meet expectations? Yes.

Now is 288 units. If build 1200 units...means all Mickley mouse units.

Land price psf already $1.2k...they have to sell $2k & above to break even. Wow.