En bloc market picking up momentum, but developers seen remaining selective

THE residential en bloc market has been gathering momentum in recent months as developers seek to replenish their land banks amid dwindling unsold inventory, a relative lack of supply under the Government Land Sales (GLS) programme and buoyant sales at new launches.

Analysts said that the en bloc market should continue to see stable interest in the coming months as more sites come onstream, although developers are likely to remain discerning when it comes to selecting sites.

There were 9 residential en bloc deals so far this year totalling a transacted value of about S$1.81 billion as at Jul 31. This surpassed the 8 residential en bloc deals worth some S$1.17 billion for 2021 as a whole, data from real estate consultancy JLL showed.