En Bloc-Complete the list

[Cooling down]

I have to say it feels like the en bloc frenzy is cooling down... Remember the times when there were several condos almost every week going en bloc. Now couple of weeks very quiet.

[nay nay]

when LP enbloc...nay sayers will nay nay LP...when LP enblocs...they will nay nay NC...when NC enblocs...they will nay nay MG...when MG enbloc, they will nay nay BP...when BP enbloc...then they realize cannot nay anymore...then nay nay elsewhere as usual losers

[Laguna]

A realistic price. I have 1 unit
Cash in at benchmark Farrer Court will be enough for my retirement.
[/quote]
Went to LP yesterday...spotted only two yellow banners...that shall be good enough..'

Hope that everything is smooth

cheers!!!

[foreign press]

Reuters - Saturday, August 4SINGAPORE, Aug 4 - Singapore authorities have overturned a S$500 million condominium purchase by developer Hotel Properties , siding with a minority of homeowners who objected to the sale, local media said, in a sign that a redevelopment frenzy in the city state is slowing.

A boom in redeveloping existing housing estates has helped drive Singapore home prices to 10-year highs.

The Strata Titles Board ruled on Friday that the January acquisition of downtown residential estate Horizon Towers by Singapore developer Hotel Properties and its partners Morgan Stanley Real Estate and Qatar Investment Authority, did not comply with the proper procedures.

Singapore newspapers said the committee of homeowners that organized the sale had failed to file certain documents.

This was the first time in seven years a collective property sale had been overturned as a result of objections by a minority of owners, The Straits Times newspaper said.

The paper added that the STB's decision could inspire disgruntled homeowners in other developments to appeal against orders to sell their homes.

Under Singapore law, housing estates can be sold collectively without unanimous approval of all owners. Buildings over a decade old can be sold as long with the agreement of owners with 80 percent of the property's value.

Such rules have allowed property firms such as CapitaLand and City Developments to buy entire housing developments to tear them down in order to rebuild denser and more expensive apartments on the land site.

Spurred by rising real estate values, redevelopment deals hit S$10 billion in the first half of the year, more than the total S$7.8 billion recorded for the whole of 2006.

Last month, Singapore raised its re-zoning tax for developments, among several recent measures to slow a property boom.

[enblocked]

Reuters - Saturday, August 4SINGAPORE, Aug 4 - Singapore authorities have overturned a S$500 million condominium purchase by developer Hotel Properties , siding with a minority of homeowners who objected to the sale, local media said, in a sign that a redevelopment frenzy in the city state is slowing.

how does this in any way slow down the enbloc frenzy in singapore?

[Moral hazard]

i don't know anyone at horizon towers, and whilst I am happy for the minority owners who never wanted to sell, I am disgusted by the majority who cheer the decision simply because the market went up after they freely agreed to sell

I hope the are sued by the developers and forced to sell their falts individually at the agreed price, as there is great moral hazard in allowing willing sellers to go back on their word like this

Failing that, lets hope that all other property companies boycott that site and don't make another enbloc offer rewarding these leeches

[enblocked]

i don't know anyone at horizon towers, and whilst I am happy for the minority owners who never wanted to sell, I am disgusted by the majority who cheer the decision simply because the market went up after they freely agreed to sell

I hope the are sued by the developers and forced to sell their falts individually at the agreed price, as there is great moral hazard in allowing willing sellers to go back on their word like this

Failing that, lets hope that all other property companies boycott that site and don't make another enbloc offer rewarding these leeches

i don't think morality gets anyone very far in singapore, or to be fair, anywhere.

[Moral hazard]

well "morality" is a slightly wrong term... I don't necessarily expect people to take morality into consideration (would be nice if they did but not expected).  I do however expect people to stand by their decisions, otherwise it is impossible to do business.  When a deal is done, it is done, doesn't matter what happens a second after both parties signed on the dotted line

I guess some majority owners benefit by default.  They may have been willing to stand by their word, but the board over-ruled the sale.  It is those gloating in the papers (see business times yesterday for example) pretending that they were screwed by the developers and simply got justice now that are despicable

[stop dreaming]

sub prime woes are spreading to all markets
US markets went down on Fri again.
S'pore is going to be hit as well.

There are condos and apts which have obtained 80% for en bloc, but the property consultants are not calling tender for the en bloc sales. It's obvious that the property consultants know that developers will not be willing to pay the high reserve prices, and advertising for the tender will be money wasted.

So having en bloc potential, appointing property consultants, getting 80% support are not enough. Even calling tender is not enough.

Market is going from good to jittery and it's getting worse.

Time to stop dreaming and go back to a regular job with a regular salary.

[Dun worry]

US economy is doing not bed, only the sub-prime having problem. US gov will do something about it to solve the issue.. Is still good in Mid-long term...

[P.O.D.]

There is very little left of the US economy and anyway Bush has another 2 years to run and will surely locate and destroy it.

Perhaps Chenney gave Bush a bright idea. He put all of his eggs in his single basket of a low US dollar which would cleverly make US imports expensive and deter US buyers but who cared that meant Americans must buy US manufactured goods which is good for jobs. Right?
Also, cheap cheap imports from China do not strain the weak US dollar and are just-about affordable; never mind the associated risks.

But the major US Industries have left USA and thousands of redundant workers behind and are earning huge profits with China joint ventures and since the manufactured goods can be imported to USA top dollar prices are paid with so little manufacturing costs, no taxes....the classic American wet dream.

When sterling was the global currency and it lost value the US dollar replaced it.

Now, its difficult to imagine how much further the US dollar can fall without it being discarded in favour of the Euro for international trade including oil transactions. A global currency needs to give confidence to the international community. A currency must be stable and its government must be prepared to support its value.

If confidence abandons the US dollar, then USA as the biggest debtor nation will immediately lose its sources of credit and may have to pay its debts and if this happens the Mexicans will be building a fence to keep Americans out.
 

[Request...]

BM please retire this thread to the archives...will be interesting to come back to this a year later