Large residential en-bloc sites can work despite cooling measures
A larger site offers a bigger canvas for creative developers to develop a leading-edge product that caters to Covid-endemic home owners
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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.
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