Register now and get the best possible deals from the developers. If you are affected by the new cooling measures and want to take advantage on them to stay invested, or lock in your profits, let us know your concern and we are glad to assist you.

Click Here To Minimize / Maximize

A Successful En-Bloc in Eunosville

Brought to You by MCL Land

Standing opposite to Eunos MRT Station
Walking distance of 100 metres only
Potentially 1,400 Residential Units
Catering to Your Choices!

Please Register HERE for
More information and Updates!

PROJECT DETAILS

 
 

Eunosville, former HUDC (Housing and Urban Development Company) estate along Sims Avenue and Changi Road has been sold to MCL Land through a collective sales, in the 2nd quaarter of 2017, for S$765.78 million. The owners of the 330 privatised former HUDC development, each got an average of between S$2.25 million and S$2.41 million. According to the collective sales committe chairman, the residents are happy with the price tag as it is 19% higher than the initial asking price of S$653 million.


Eunosville has a land site area of 376,713 square feet and and is located in the Eastern Region of Singapore. It comprises of four low-rise blocks, each four storeys high. It also has two nine- storey blocks, two 11-storey blocks and two 13-storey blocksWith a gross plot ratio of 2.8, the new housing development is expected to yield approximately 1,400 residential apartments.


The sales price will translate to about a land rate of S$909 million psf per plot ratio which incude a premium of around S$194 million to top up the lease from a 71 years lease remaining to a fresh 99 years and for redevelopment of the site to the gross plot ratio of 2.8 and intensification of the 376,713 sqft of land. The estimated breakeven amount is likely to be around S$1,400psf. Hence, the approximate selling price of the new units in this private condominium, will be averaging to about S$1,600psf, assuming a target profit margin of 10%.


New condo in Eunosville has an attractive location which includes convenience for transportation with only 100 metres walk to Eunos MRT Station serving the East-West Line (EWL). The Eunos MRT Station is also six stops to City Hall and five stops to Changi Airport. The site at Eunosville is in a matured estate which is centrally located, with good connections to Paya Lebar. It is one MRT stop to Paya Lebar commercial hub where the retail and commercials are taking shape, with new amenities and infrastructure  being planned around it. It is only two stations to Bedok MRT Station where residents are able to have more shopping choices at the Bedok Mall. 

 

There are shortage of development sites in the market, especially Government had cut back on its land sales programme. There are improved optimism in Singapore residential market, with increased in property prices and volume of transactions. With better outlook in the property market, developers are more bullish with their bids. It is the 3rd en-bloc sales of year 2017. The first was sealed and was sold for S$65million in One Tree Hill and another in Rio Casa at S$575 million. The high price for this new site at Eunosville shows more confidence in Singapore property market.

 

New Condo at Eunos, En-Bloc of Eunosville- Connectivity
Residents of new and upcoming condo at the former site of Eunosville can be served by the Eunos MRT Station, serving the East-West Line which is just at the door step of the new condo. It is great coneveniece as the condo is lcoated next to the bus interchange as well.

From Eunos MRT station, it is
4 stops to Changi Business Park, Expo and Changi City, and
5 MRT stops to Changi Airport.

Travelling to the West, it is
3 MRT stops to Kallang Sport Hub,
5 MRT stops to Bugis and
6 MRT stops to City Hall.

For those who drives, within mins to the North, residents of New Condo at former Eunosville will reach Paya Lebar Central where residents can find bustling activities, and PIE (Pan Island Expressway) is just nearby to connect residents to the Expressway Network. Heading South to Still road, Marine Parade is only 5 minutes away. From here residents will have easy access to East- Coast Parkway (ECP) which brings them to Central Business District (CBD), City Centre and Marina South, Marina Bay.

 

New Condo at Eunos, En-Bloc of Eunosville- Amenities
Future residents of New Condo in former Eunosville can take short drive down to East Coast Road where shops, F&B outlets and supermarket are located. Alternatively, they could take a short drive down to Marine Parade Town Centre where heartland retails, market and food centre are located. Marine Parade Town Centre also host the Parkway Parade Shopping Centre, 112 Katong where many dining, shopping and entertainment options are available to choose from. There are several nice eateries along East Coast Road as well which are a short drive away from new condo development in former Eunosville. 

 

For those who enjoy outdoor activities, Kallang Riverside Park and East Coast Park are the choice for them. Future residents of New Condo at former Eunosville can have water sports, jogging or cycle at the Park. There are also many clubs nearby which the residents can enjoy, this include Singapore Badminton Hall, Geylang Stadium, Kallang Netball Centre, Kallang Squash & Tennis Centre, Singapore Cricket Association, Singapore Swimming Club and PWD Sport Club. As standing just next to Eunos MRT Station, residents can have the great convenience of travelling to Singapore Sports Hub.

 

New Condo at Eunos, En-Bloc of Eunosville- Education
New Condo at former site of Eunosville is near to Eunos Primary School, Haig Girls; School, Tnajong Katong Primary School, Telok Kurau Primary School, CHIK Primary School (Katong), Kong Hua School, Maha Bodhi School, Saint Stephen School, Tao Nan School. Parents who are looking for International school nearby Cassia Edge. Canadian International School (Tanjong Katong Campus) and Chatsworth International School (East Campus) are two International schools.


New Condo at Eunos, En-Bloc of Eunosville- Developer
MCL Land operates as a subsidiary of Hong Kong Land Holdings, a member of Jardine Matheson Group and it engages in the development of residential and retails in both Singapore and Malaysia. They have made their significant presence in Jurong Regional Centre with successful new launches for residential condo for the past 4 years with J Gateway, Lake Grande, LakeVille as well as Sol Acres and Terrasse. 

 

MCL Land is proud to present you another of their quality condo development along Sims Avenue, at the former site of Eunosville. With its good accessibility to MRT Station, excellent connectivity to Paya Lebar Commercial Hub and vast amenities, MCL Land is confident that this new residential site will make it an excellent choice for home owners, with its conveniences.


For Pleasure of Ownership,
Please Register HERE and
we will contact you soonest!

 

Register HERE with Us
for Preview and
First Hand Information

Are you idling
your Cash and CPF
without realising
what a great impact
inflation has on
your money you work and
save everyday?
Interest rates are
on the rise.

Are you affected by ABSD
and LTV loan?
And would like to
take advantage on the
cooling measures to have
highest possible returns
and lock in your profits?

Leverage on your assets
and banks to Grow
Your Dollars over time
Register Here to have More Options
 

Invest in Central Region
with High Rental Potential
and High Demand

Downpayment starts fr S$160,000 only
 
 
 
Project  Eunos New Condo at the former site of Eunosville
Developer  MCL Land
Location  Sims Avenue, Jalan Eunos
District  14
Tenure  99 years leasehold
Site Area  34,997 square metres/ 376,712 square feet
GFA:
Plot Ratio  2.8
Expected TOP:
Total Units  Approximately 1,400 residential apartments
Total Carpark
Development  Condo comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy
 

 
Eunosville New Upcoming Condo Unit Mix Distribution
Unit TypeTypeArea (Square Feet)Total No. of Units
1 Bedroom TBA TBA TBA
2 Bedroom TBA TBA TBA
3 Bedroom TBA TBA TBA
4 Bedroom TBA TBA TBA
5 Bedroom TBA TBA TBA
Penthouse TBA TBA TBA
Former site of Eunosville, New Condo Facilities
TBA (Click HERE for More Info)
  • TBA
  • TBA
  • TBA 
Eunos New Condo Price List
Unit TypeArea (Square Feet)PricingPSF
1 Bedroom TBA TBA TBA
2 Bedroom TBA TBA TBA
3 Bedroom TBA TBA TBA
4 Bedroom TBA TBA TBA
5 Bedroom TBA TBA TBA
Penthouse TBA TBA TBA

LOCATION and AMENITIES

Eunosville

Amenities Near New Condo at former site of Eunosville

Category Important Amenities Near New Condo at former site of Eunosville Approximate Distance
Train Stations Eunos (EWL) 0.21km
Bus Stop

Interchange (Bus: 2, 7,13,21,24,26,28,30,30E,51,60,61,63,63M,67,93,94,150,155)
Kampong Ubi CC (Bus 76, 154)
Eunos MRT (2N, 15,21,25,51,55,60,61,63,63M,93,94,854,966,NR7)
After GE Life Centre (Bus:2, 7,13,21,24,26,28,30,30E,51,60,61,63, 63M, 67, 93, 94, 15-, 155, NR7)

0.11km
0.28km
0.4km
0.9km

Supermarkets

Fairprice (Block 5 Eunos Crescent)
Fairprice (Joo Chiat Complex)
Sheng Shiong (57 Tanjong Katong Road)
Giant Super - JK Centre
Giant Super - Tanjong Katong Complex
Giant (Parkway Parade)
Cold Storage (Katong Mall)

0.39km
0.6km
1.0km
0.9km
0.98km
1.86km
1.41km

Shopping Malls

Paya Lebar Square
112 Katong
Parkway Parade

1.0km
1.5km
2.0km

Education Institutions Preschool
Primary

Eunos Primary School 
Haig Girl's School
Tanjong Katong Primary School 
Telok Kurau Primary School 
CHIJ Primary School (Katong)
Kong Hwa School 
Maha Bodhi School 
St Stephen's School
Tao Nan School

0.77km
0.68km
1.42km
1.75km
1.52km
1.78km
1.22km
1.66km
1.69km

Secondary

Bedok North Secondary School 
Tanjong Katong Girls School
Tanjong Katong Secondary School 
Telok Kurau Secondary School 
Chung Cheng High School
Manjusri Secondary School 
St Patrick's Secondary School 
NorthLight Secondary School

1.99km
1.28km
1.27km
0.34km
1.87km
1.13km
1.85km
1.73km

Junior College
Victoria Junior College
Temasek Junior College
Tertiary
International
1.8km
Food Centre

Food Centre/ Market - 30 Eunos Rd 5 
Food Centre/ Market - 4A Jalan Eunos
Food Centre - 27 Eunos Rd 2
Geylang Serai Market

0.7km
0.4km
0.7km
0.5km

Lifestyle Kampung Ubi Cc 0.2km

FACILITIES SITE and FLOOR PLANS E-BROCHURE

The Facilities and Site plan of new condo launch at the former site of Eunosville, along Sims Avenue are currently seeking approval from relevant authorities.

If you would like to be updated on first hand information for new condo launch at the former site of Eunosville,
Please 
Register with Us 
for More information!

AVAILABLE UNITS/ SOLD/ CHEAPEST PRICES PSF

Please Register with Us 

for your E-Brochure, Floor Plans and Pricing Here when available!!

CENTRAL GEYLANG MASTER PLAN OVERVIEW

Geylang Serai Master Plan 2

Geylang Serai Master Plan

Located at the City Fringe, Geylang and Marine Parade are both well developed and highly accessible residential areas with a rich heritage. Residents can expect new and enhanced facilities, better transport connectivity and more opportunities to work near home. 

New Condo next To Eunos MRT Station at Former site of Eunosville- Housing- Better living through a better environment
With a good range of amenities and proximity to the City and East Coast Park, Geylang and Marine Pararde are highly popular housing locations. Future residents will have more choices as these are two mature towns get rejuvenated in the coming years. More facilities will also be added to serve the needs of the growing community.

  • A new civic centre, Wisma Geylang Serai precint by 2017 to house a mix of community, cultural and art-related facilities.
  • A new future nursing home at Geylang East Central will be built to meet the needs of the elderly.
  • More retail options will be available at Paya Lebar Central.

New Condo next To Eunos MRT Station at Former site of Eunosville- Leisure- New reasons to be outdoors
Those living in Geylang and Marine Parade do not have to travel far for their daily doze of the outdoors. Not only do they have access to a number of East Coast Park within reach, they also have access to a number of smaller parks and an extensive networks of park connectors. By 2030, most residents will be living just 400 metres of a park or park connector as greening efforts continue.

  • More neighbourhood parks will be provided at various locations
  • A new park connector will be built between the Paya Lebar and Eunos MRT Stations with a future extensions towards Geylang River.

Other developments that will further promote outdoor activities include:

  • An expansion of the cycling network
  • Improvements at Geylang River under PUB's active, beautiful Clean (ABC) Waters programme. For instance, the existing concrete canal from Dunman Road to Gillemard Road will be enhanced with more greenery and new communal spaces.
  • The upgrading of Haig Walk under the Estate Upgrading Programme (EUP).

New Condo next To Eunos MRT Station at Former site of Eunosville- Transport- Quicker ways to travel
Residents in Geylang and Marine Parade can expect smoother and faster journeys with the following enhacements to the roads and public transport networks.

  • The Downtown Line (DTL) will have 3 new MRT Stations serving the Geylang areas by 2017, namely Mattar, Macpherson and Ubi. Macpherson will also be an interchange station connecting with the Circle Line
  • The Eastern Region Line (under study), expected to be completed by 2020 will give tremendous boost to the public transport connectivity of Marine Parade and slash travel time to the city and Change.
  • Ongoing road widening works along Sims Way, Mountbatten Road and Fort Road will support the upcoming development in the area
  • A new vehicular underpass at the junction of Sims Way and Mounbatten Road will facilitate the flow of traffic exiting Kallang- Paya Lebar Expressway (KPE) towards the city and the Sports Hub.  

New Condo next To Eunos MRT Station at Former site of Eunosville- Economy- Nuturing a growth centre and creating jobs
New commercial developemnts will continue to come onstream over the next few years , offering exciting opportunities for new businesses and bringing jobs closer to homes.

Many new developments will be sprouting up and around Paya Lebar Central, a new sub regonal centre. A number of projects are already underway including the Workforce Development Agency (WDA) Continuing Education and Training (CET) Campus East. Paya Lebar Square and One KM. A future commecial development has also been made available at Tanjong Katong Road/Sims Avenue. 

NEW CONDO IN EUNOSVILLE IS ONE MRT STOP TO FUTURE PAYA LEBAR COMMERCIAL HUB

URA Decentralisation Strategy- Paya Lebar Central- A Vibrant Commercial Hub

Paya Lebar Central and Jurong Lake District are the two new decentralised hubs that are part of the government’s plan to bring jobs closer to home and ease congestion in the CBD. To realise its vision for Paya Lebar Central, the URA had said it intends to put up for sale about 12ha (1.29 million sq ft) of land around the Paya Lebar MRT station for development. This will translate to about 5.38 million sq ft of commercial space, with the largest developments to be concentrated around the junction of Tanjong Katong Road and Sims Avenue, to anchor the area with retail, hotel and office developments, according to URA.

payalebarbizhub1

Paya Lebar Central looks set to welcome a new hive of activity with offices, hotels, retail and attractive public spaces planned for it. URA’s larger decentralisation strategy in the Concept Plan to provide alternatives for businesses and jobs closer to homes. The other commercial hubs under URA's larger decentralisation strategy in the Concept Plans to provide alternatives for businesses and jobs closer to homes include Tampines Regional Centre and Woodlands Regional Centre.

Part of the attraction of Paya Lebar is the eclectic mix of old and new and the different types of occupiers. This mix gives the area character and ensures that it is vibrant. The addition of Paya Lebar Square, the new One KM and the rejuvenation of Singapore Post Centre are just what is needed for a comprehensive transformation of the Paya Lebar commercial hub.

Paya Lebar Master

Paya Lebar Central- Transforming Paya Lebar

The area around the Paya Lebar MRT interchange station is undergoing a massive transformation. Hoardings have been put up around two plots totalling 422,275 sq ft that will be developed into Paya Lebar Central (PLC), a massive mixed-use scheme by a 70:30 joint venture (JV) between Abu Dhabi Investment Authority (ADIA) and Australian property group Lendlease.

When completed in 2018, PLC will have three Grade-A office towers totalling 874,717 sq ft, a shopping mall with close to half a million sq ft of retail space and more than 400 units in three residential towerse (Park Place Residences). The project will be connected to the Paya Lebar MRT station, which is also an interchange for the East-West and Circle Lines.

The purchase price paid by the JV for the 99-year leasehold site at Paya Lebar Central was $1.67 billion, which translates to $943 psf per plot ratio (psf ppr). PLC will be the first mixe-use scheme with residences that is linked directly to the Paya Lebar MRT Inter change station. That will attract both homebuyers and investors.

One KM Mall- Katong Regency

The nearest residential project is Katong Regency, which sits on top of One KM shopping mall and was completed earlier this year. The project is a five-minute walk to the Paya Lebar MRT station and units in the freehold development were fully sold within the first week of its launch in 2012. The average price then was $1,600 psf, although some of the one-bedroom units of 581 sq ft achieved highs of $2,009 psf.

One KM has a wide mix of retail and F&B offerings, as well as a cluster of enrichment centres. The 210,000 sq ft mall has a total of 150 shops and was considered the first full-fledged shopping mall in Paya Lebar when it opened in December 2014.

paya-lebar-square-gallery

Paya Lebar Square

The first 99-year leasehold commercial site in the new Paya Lebar Central precinct to be launched for sale by URA was in January 2011; it drew 10 bids at the close of its tender in April that year. The winning bid went to a consortium comprising Low Keng Huat, Guthrie GTS and Sun Venture Group, which paid $586 million ($872 psf ppr) for the site, which has since been developed into Paya Lebar Square.

Paya Lebar Square, completed in November 2014, has a three-storey retail podium with 95,000 sq ft of retail space and is linked to the MRT station. It has a 10-storey office block with 556 strata office units that were offered for sale in 2012 at an average price of $1,750 psf. Recent strata office units have changed hands at $2,003 to $2,150 psf, according to caveats lodged for units sold from October to December. Meanwhile, the strata office units are being listed for rent with rates ranging from $2,000 a month ($3.64 psf) for a 549 sq ft unit to $8,000 a month ($5.43 psf) for a 1,475 sq ft unit.

Strata offices, especially those that have been divided into very small units, are a completely different niche from the single-owner office buildings aimed at large occupiers, says JLL’s Archibold. While occupiers with space needs of 1,000 to 5,000 sq ft will be attracted to strata-titled buildings, large occupiers looking for 20,000 to 100,000 sq ft of space will want buildings with Grade-A specifications, he adds.

The three Grade-A office towers at PLC will be the first premium office space launched at Paya Lebar Central. Archibold, therefore, expects to see a similar profile of occupiers as those at The Metropolis at one-north, which has two office towers with 1.1 million sq ft. The Metropolis is located next to the Buona Vista MRT station, also an interchange station for the East-West and Circle lines, but in the western region. The Metropolis has just 28 tenants, five of which have taken up space of more than 100,000 sq ft, says Archibold. The project was developed by Ho Bee Land and completed in 2013.

Singapore Post Centre

The transformation at Paya Lebar Central has put the heat on Singapore Post Centre to reinvent itself, especially with the changing retail dynamics and the need to cater to more discerning consumers. At end-October, SingPost announced that it was spending $150 million to add a 269,100 sq ft shopping mall, with four levels and a basement. It will be the first shopping mall in Singapore to house both bricksand- mortar shops and e-commerce retailers.

Spillover


Once PLC is completed in 2018, it will form the cornerstone of the commercial hub. Further sites are likely to be made available for sale — either greenfield land adjacent to Paya Lebar Central or brownfield sites next to Singapore Post Centre — for instance, the car workshops which could be redeveloped. These will form a very significant quantum of development and redevelopment land for the future and will ensure its success as a hub.

The remaking of Paya Lebar has also sparked a rejuvenation of the neighbouring Aljunied and Geylang Road. Located at the corner of Sims Drive and Aljunied Road is GuocoLand’s Sims Urban Oasis, a 1,024-unit project launched in March this year. It has seen a strong pickup in sales over the past two months: 46 units and 39 units were sold in October and November, respectively, at median prices of $1,285 and $1,338 psf.

The transformation of Paya Lebar Central, which is now visible, could have prompted homebuyers to take a second look at the project after seeing the buzz created at the other decentralised hub in Jurong and the other projects in the city fringe, say property agents. The neighbourhood could also benefit from URA’s proposed rezoning of the area bounded by Geylang Road, Lorong 22 Geylang, Guillemard Road and Lorong 4 Geylang for commercial and institutional use from the current residential and institution zoning.

Regional Centres map

What makes Paya Lebar Central stand out as a commercial hub? Convenience and connectivity

Government’s push for a new decentralised hub in Paya Lebar will be a success. Paya Lebar Central is only a 10 minutes drive from the Central Business District (CBD) and is well connected with three highway connections — the Pan Island Expressway (PIE), East Coast Parkway (ECP) and Nicoll Highway as well as major roads like Sims Avenue, Paya Lebar Road and Changi Road. It is further enhanced with the new Paya Lebar MRT Interchange Station for the Circle Line and East-West Line. It also has the critical mass needed to make the Paya Lebar Commercial Hub works.

Office occupiers are very location- sensitive as they are very conscious of the needs of their staff, Paya Lebar Central is just a 10-minute MRT ride to the Raffles Place MRT interchange station, as well as a 10-minute drive to the CBD. It is, therefore, much closer to the CBD, compared with other decentralised office precincts such as Jurong Gateway in the west, Tampines Regional Centre and Changi Business Park in the east and the future Woodlands Innovation Corridor in the north.

Take-up rate in the office market has slowed in 2015 and is expected to continue in 2016. Global economic headwinds have made companies more cost-sensitive and cautious in their approach to expansion and capital expenditure. However, Lendlease and ADIA’s PLC is slated for completion in 2018, and it will be the only such decentralised office development in the pipeline. PLC will therefore be well-positioned to take advantage of demand from occupiers looking for more cost-effective non-CBD space.

MCL LAND WON TOP BID FOR EUNOSVILLE AT SIMS AVENUE AT S$766 MILLION, BOOSTING ENBLOC SALES TO S$1.5B

IN THE third biggest collective sale in Singapore, Hongkong Land's fully-owned unit MCL Land has clinched the Eunosville site through a collective sale, at a price of S$765.78 million.

This works out to a unit land price of S$909 per square foot per plot ratio (psf ppr) inclusive of an estimated S$194 million payable to the state to enhance the intensity of the site to a gross plot ratio (ratio of maximum gross floor area to land area) of 2.8 and to top up the site's lease to 99 years. The site has a balance lease term of about 71 years.

When the tender for Eunosville was launched in April, its marketing agent OrangeTee had stated the asking price was S$643 million to S$653 million - or S$780-790 psf ppr.

Owners stand to receive a gross sale price of about S$2.25 million to S$2.41 million per unit upon the successful completion of the sale, which is subject to several conditions.

These include obtaining approval for a residential redevelopment scheme with 2.8 plot ratio as stipulated for the site in the Urban Redevelopment Authority's Master Plan 2014 as well as the lease top-up.

The deal will also be subject to approval by the Strata Titles Board and if necessary, the High Court. Owners controlling about 81 per cent of Eunosville's share value and strata area have consented to the collective sale, said OrangeTee.

Located opposite Eunos MRT Station, the 376,713 sq ft new condo site is almost rectangular with wide frontage onto Changi Road and Sims Avenue. It is zoned for residential use. A redevelopment could potentially yield about 1,399 units with an average size of 70 sq metres, OrangeTee said.

The tender for Eunosville, which closed on Wednesday, is understood to have drawn eight bids.

OrangeTee executive director of business solutions Marcus Oh said the strong interest and bids received were competitive given the strong location, being less than 100 metres from Eunos MRT Station - which has excellent connectivity to several interchange stations on the MRT network - and proximity to many amenities.

"The primary home sales market has also seen a marked improvement and developers are starting to make strategic acquisitions of land to position themselves for a recovery of the market."

MCL Land currently has two Singapore residential projects on the market - Lake Grande near Jurong Lake (with 98 units unsold in the 710-unit project) and Sol Acres executive condo in Choa Chu Kang, where 112 of the 1,327 units are still available. On the drawing board is a private condo on a Margaret Drive site that MCL bagged last December.

Eunosville is the third biggest collective sale deal here after Farrer Court, which was sold for S$1.3388 billion and Leedon Heights, which fetched S$835 million - both in 2007.

It also marks the fourth collective sale so far this year after One Tree Hill Gardens near Orchard Road, which was awarded to Lum Chang Holdings for S$65 million; Rio Casa in Hougang, sold for S$575 million to a consortium comprising Oxley Holdings, KSH Holdings, Lian Beng Group and the private investment firm of Super Group's Teo family; and the S$101.5 million sale of Goh & Goh Building (comprising apartments and retail units) along Upper Bukit Timah Road to BBR Holdings. All three deals were announced in May.

The four collective sales year to date total slightly over S$1.5 billion.

For the whole of last year, there were three collectives sales - Raintree Gardens in Potong Pasir, Shunfu Ville in Marymount area and Harbour View Gardens in the West Coast area - adding up to slightly over S$1 billion.

In 2015, the solo collective sale transaction was the S$380 million sale of the commercial/residential Thong Sia Building in Bideford Road.

The peak year for en bloc sales was 2007, with 88 deals amounting to S$11.5 billion, JLL data shows.

The collective sale fever cooled when the property market tanked during the 2008 global financial crisis though things started to revive again in 2010, when there were 38 collective sales, followed by 51 transactions the following year before activity began to wane again amid a price gap between owners of en bloc properties and developers.

"Between 2014 and 2016, there were 25 collective sale sites launched but only five sold during this period; that suggests that the other 20 sites were priced above what the market could bear," said Tan Hong Boon, regional director of capital markets at JLL.

Moreover, the introduction of the total debt servicing ratio or TDSR framework in late-June 2013 led to a dive in market sentiment and developers' private home sales.

In 2015, however, housing sales began to pick up slightly followed by a further improvement in 2016 - and developers' appetite to restock their landbank improved; that's when they started to feel a shortage of residential sites.

That period also coincided with a scaleback of the Government Land Sales (GLS) Programme in 2016 amid oversupply concerns given last year's record volume of private home completions.

"This shortage of residential sites, whether GLS or private-sector en bloc sales, has heightened competition among the developers for land and encouraged owners in older private housing estates to band with their neighbours and join the en bloc trail," said JLL's Mr Tan.

More collective sales are expected to come on the market this year and next - including Kemaman Point and Boon Teck Tower (both in Balestier), Amber Park, Cavenagh Gardens in District 9 and Brookvale Park near Clementi. Mr Tan said: "We estimate that there are some 25 to 30 existing projects where owners have elected their collective sales committees and are progressing at various stages."

OrangeTee's director of business solutions Alex Oh said: " We are receiving a lot of enquiries from owners, but as the discussion proceeds, their price expectations keep going up.

"It will be relatively easy to get the minimum 80 per cent consent from owners but may be tougher to sell some of these sites to developers. We'll also have to keep track of the H2 2017 GLS Programme. If the government increases its land supply, developers' attention will be diverted from en bloc sales - as buying GLS sites is more straightfoward and faster."

CONTACT US

You are only one-step away from owning a unit New Condo in Jalan Eunos, Changi Road

Thank you for Your interest in New Condo at former site of Eunosville.

Be among the first to view and book New Condo in former site of Eunosville, a new life-style in Changi Road, at the lowest pre-launch price

Enjoy attractive prices before the official public launch. Be the first to secure your choice unit

  • Latest updates on the development
  • Priority unit choice and selection
  • Enjoy early-bird VVIP Discounts
  • Direct Developer price
  • No Commission payable

Register for a copy of New Condo in former site of Eunosville Floor plans, E-Brochure, Pricing and Latest Updates!

vvip-preview

What is 3 + 2 :