Shunfu Ville en-bloc Sales- a Comparative Review
The Shunfu Ville the upcoming condo for sale is the largest since the year 2007. Immediately the intention of the owners was announced to the public; enquires began coming in from developers who are interested in buying.
The strong interest from developers has opened a window of opportunity for other projects in that category since those handling this particular sales condo can easily predict that the market is in demand for such sales.
This particular collective sale netted $638 million when it was put up for sale last month. This is a form of windfall to individual owners in these en-bloc sales. Each of the owners received $1.782 million.
If this amount of money received is compared to what each owner will get if the sales were to be sold in units; it is clearly observed that they have gained 50% over the sale in single units. This indeed is a windfall for all the owners, a worthy take-away profit.
The success of this sale is a pleasant surprise to the watchers of collective sales in the property industry. In actual fact, en-bloc sale is in a state of comatose before this particular sale was put up; lo and behold, the music has changed in collective sales index in the positive direction- at least for now. Similar gains have been experience by other Singaporean new launch condo units, for instance,Thompson Impressions, Kingsford water bay, and Sturdee Residences.
As it is now, owners of HUDC has been put under pressure. What with the cost of maintaining their aging edifices? The fact that they stand to reap huge financial returns on investment if they put it up for sale now is the beginning of business wisdom in their circles. Hence, there is now an upsurge in the sale.
If there is any time to take action in en-bloc sales, it is now. The supply of land is facing some measure of moderation by the government. A careful look at all the government land put for sale shows that they are not all viable. First off, they may appear too large to manage. Two, the competition is very stiff- only those with might, power and to some extent connections; can pull through.
Now that developers have realized the gains in collective sales, the location is also an important factor to be considered if they are to realize their dreams to the fullest with regard to sales condo units.
When the location is attractive, another source of failure is the pricing. The price must be right. It must be realistic. Above all, it must be affordable. This is a very important factor to achieving success in any sale. Other attractive condo units that have sold well such as Sturdee Residences and Stars of Kovan attract buyers since they meet these requirements.
Shunfu Ville deal has indeed resurrected collective sales from the doldrums that it has been consigned to. For others to build on this success, the price must have the right connect with the buyers.