The $638 million collective sale of Shunfu Ville has stoked the interest of developers looking for potential redevelopment sites, as well as homeowners hoping to dispose their older properties, reported The Straits Times.
Located close to the Marymount MRT station, the 358-unit privatised HUDC estate changed hands in May, with each owner pocketing around $1.78 million, or a 50 percent premium over a typical unit’s price. It is also the first en bloc transaction in almost a year, and the most expensive since 2007.
“There is interest from developers, which is why we are stepping up our search for suitable projects,” said Karamjit Singh, International Director at JLL.