- Limited supply of land in limited places
- Most developments from the last en-bloc cycle are finished and sold
- There’s growing developer confidence despite Covid-19
- New rules on proxy votes can make a big difference
For those who remember the en-bloc fever of 2016/17, the current Singapore property market may look a little depressing. Back then, a certain Stirling Road plot (today Stirling Residences) made history by selling for $1 billion; and Shunfu Ville (today JadeScape) raked in an impressive $638 million.
Ever since however, a combination of cooling measures and rising development charges have put out the fire. That’s why it’s surprising that – in these Covid-19 days – that en-bloc movements may be seeing a revival. And while we don’t think it will be as overheated as 2017, it might be a relief to owners of older condos who have been waiting.
Here’s what you need to know about en-bloc sales in 2021:
Notable changes to the en-bloc scene