Large residential en-bloc sites can work despite cooling measures

AMID strong demand for homes, activity in the collective sales market started picking up in the latter part of 2021. According to real estate consultancy JLL, a dozen projects worth around S$2.19 billion - 9 residential and 3 mixed-use sites (based on proposed use) - were transacted in 2021.

But momentum in the residential en-bloc market may be snuffed out by the property cooling measures that kicked in on Dec 16, 2021.

Among the measures affecting potential home buyers were a tightening in the total debt servicing ratio threshold and an increase in additional buyer's stamp duty (ABSD) for all buyers except Singapore citizens and permanent residents buying their first home.