En bloc wheels continue to slow in 2013?

By The Folks @PropTalk - April 3, 2013 2 Comments

Some property developers are turning to commercial and mixed development projects to make up for the weak en bloc market.

This comes as transacted deals for the first quarter of 2013 dropped by 20% to $360 million, compared to the same quarter in 2012.

Real estate services firm Jones Lang LaSalle says some 50 en bloc deals amounting to $3.2 billion were transacted in 2011, and 26 deals at $2 billion in 2012.

As of 2013, four deals have been transacted. They comprise of three residential and one commercial property site.

Jones Lang LaSalle's regional director of investments Tan Hong Boon attributes the weaker market to the measures introduced by the government towards residential properties. This includes the Additional Stamp Buyers Duty on residential properties.

Mr Tan said that he expects the amount of en bloc deals for this year to reach between $1.5 and $2.1 billion, with a majority of deals transacted from residential property sites.

Source: Channel News Asia

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2 comments to ''En bloc wheels continue to slow in 2013?"

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  1. san centre chin swee rd sold

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  2. The Folks @PropTalkApril 4, 2013 at 11:06 AM

    Hi Anonymous (4/4/13, 8:32AM)

    Yes but San Centre is the commercial en bloc deal. So we are still short of one residential site.

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