>> ASIAONE / BUSINESS / MY MONEY / PROPERTY / STORY
Teo Cheng Wee
Tue, Apr 29, 2008
The Straits Times
Goodbye, en bloc sales

Pender Court. Finland Gardens. Tulip Garden. Makeway View. These were all attempts to sell an estate en bloc which fell through, all within this month.

But even as the en bloc fever cools, not all the affected residents are getting hot under the collar. Many told The Sunday Times that they were disappointed to miss out on a good price, but were happy to stay put.

It was reported last Friday that the sale of Pender Court, off West Coast Highway, had fallen through. Others reported include Finland Gardens in Siglap on Tuesday; Tulip Garden in Holland Road on April 9; and Makeway View in the Newton area on April 1.

Italian expatriate Lucia Omodei, 43, who has lived at Tulip Garden for six years, said: 'We looked elsewhere in case we had to move out, but we didn't find anything this ideal. Besides, we would miss our neighbours.'

A fellow resident, music teacher Y.C. Lee, 75, saw the bright side in the 'consolation hongbao' he received, a $120,000 payout which was his share of the $25 million deposit that the buyer forfeited.

The unhappy ones are most likely those who had bought another house and now face financing issues.

The Sunday Times spoke to residents in some of the failed en bloc estates to find out how their lives have been affected.

This article was first published in The Straits Times on April 27, 2008

Is this article useful to you?
 

 
STORY INDEX
 
  German fund pays $744m for S'pore office block
   
 
  Goodbye, en bloc sales
   
 
  HDB flat buyers pay less cash upfront
   
 
  URA decides not to award Ten Mile Junction site
   
 
  Office property prices edge up by just 1.1% in Q1
   
 
  HDB resale transactions decline 6% in Q1
   
 
  Homes held back from launches in staring game
   
 
  Developers hold off launches in quiet market
   
 
  Major remaking of Collyer Quay
   
 
  Plan to lift curbs on insurers could boost property deals
   
>> RELATED STORY
Goodbye, en bloc sales
HDB flat buyers pay less cash upfront
Developers hold off launches in quiet market
The coffee shop divide
Plan to lift curbs on insurers could boost property deals

Elsewhere in AsiaOne...

Investor Relations: Full-year profit for 79 companies up 29%

News: What if my condo's en bloc sale fails?

Travel: AirAsia flying twice daily to Singapore from today

Health: The art of eight limbs

Motoring: Go ahead for Singapore F1 street circuit

Digital: Leading 3D software provider picks S'pore as regional HQ

Just Women: Should we show the world our DAMSEL IN THIS DRESS?

Multimedia: Better local searches

 

We welcome contributions, comments and tips.
a1admin@sph.com.sg
   

Search: