Collective sales are bound to get big at times, but the reality is that this year was the host of some pretty big collective sales to begin with. But nothing seems to beat the recent Tampines Court sale, which ended up at around 970 million Singapore dollars. This is the biggest En Bloc sale for the past 10 years.
This is one of the largest sales since the Farrer Court sale in 2007, which was around 1.34 billion. But there are some reasons why this collective sale was so successful, to begin with. Tampines Court is found on Tampines Street 11, and the plot of land is really large, it has around 702000 square feet.
It can easily host around 2600 units without a problem, and each unit can have around 756 sqf. A thing to note here is that the owners will gain around $1.75 million each, which all comes down to the size of the unit. The sale price is pretty impressive, but then again if you take into consideration the large piece of land sold here, you can easily understand why this is so amazing, to begin with.
Then again, you have to keep in mind the fact that the development had 14 blocks and it has a total of 560 units. It has grown quite a bit though, and that’s easy to see why such a thing will happen. This isn’t the first time when the Tampines Court region was on sale, in fact, it was initially targeting a price of around 405 million in 2008. But thankfully for the owners, the price was a lot better now, around 8 years after that initial situation. There was also a second failed attempt in 2011, although at that time the problem was a lack of approval from the residents.
The Tampines Court sale shows that there is indeed an optimistic approach towards the way the market seems to be at this time. That being said, Tampines is still a very popular location for a lot of constructions and developments. In order for the new project to break even, it will need to have around $1150 per square feet or so.
That being said, the entire sale was a rather impressive and amazing one, so we are looking forward to see what the Tampines Court sale’s impact will be shortly. The new development will most likely be a large one with a massive amount of blocks. However, it’s the unit sale price that will either make or break the entire investment.
Refer to the link below for my information with regards to The Tampines Court Enbloc
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