Enbloc Purchase
What is Enbloc?
Enbloc definition: In a lump or block; as a body or whole; all together.
In property definition: All owners come together and sell their property collectively to achieve a better prices thru land intensification rather than selling each individual strata units. Collective sales is also another name used to refer as enbloc sales in Singapore. In this article, we shall use enbloc sales for consistency.
Understanding the fundamental behind that “potential”
That potential lies in the “land”. Developers want to buy the land and not the strata units. This is because the land allow developers to build more units at a higher selling prices.
Why owners want to enbloc?
Higher cost of maintenance.
Difficulties to secure tenants.
Layout and design become obsolete.
Low property values.