PT DT STREET TNR AREA BDRM PSF PRICE$ DATE

CO 01 MARINA BAY RESIDENCES, 18 MARINA BLVD 99 1066 2/0 2,574 2,750,000 15/01/10

CO 01 MARINA BAY RESIDENCES, 18 MARINA BLVD 99 1066 2/0 2,533 2,700,000 16/01/10

CO 01 MARINA BAY RESIDENCES, 18 MARINA BLVD 99 1227 2/0 2,850 3,496,950 23/01/10

CO 01 THE SAIL @ MARINA BAY, 2 MARINA BLVD 99 1184 3/0 2,538 3,000,000 09/01/10

CO 01 THE SAIL @ MARINA BAY, 2 MARINA BLVD 99 689 1/0 3,514 2,420,000 20/01/10

CO 02 ICON, 10 GOPENG ST 99 915 2/0 1,780 1,628,700 09/01/10

CO 02 ICON, 10 GOPENG ST (LOFT) 99 1281 2/0 1,580 2,023,980 23/01/10

CO 02 ICON, 10 GOPENG ST (STUDIO) 99 570 1/0 1,759 1,000,000 08/01/10

CO 03 QUEENS, 10 STIRLING RD 99 1194 3/0 0 0 21/01/10

CO 03 TANGLIN VIEW, 152 PRINCE CHARLES CRES 99 1141 3/0 1,187 1,350,000 10/01/10

CO 03 THE METROPOLITAN, ALEXANDRA VIEW 99 1894 4/0 1,300 2,462,200 20/01/10

CO 04 CARIBBEAN AT KEPPEL BAY, KEPPEL BAY DR 99 1281 3/2 0 0 08/01/10

CO 04 CARIBBEAN AT KEPPEL BAY, KEPPEL BAY DR 99 1216 3/0 1,462 1,780,000 16/01/10

CO 04 HARBOUR VIEW TWRS, 21 TELOK BLANGAH DR 99 800 2/0 1,370 1,100,000 08/01/10

CO 04 HARBOUR VIEW TWRS, 21 TELOK BLANGAH DR 99 1615 3/2 1,053 1,700,000 17/01/10

CO 04 THE PEARL @ MT FABER, MT FABER RD 99 1360 3/0 1,104 1,500,000 16/01/10

CO 05 ONE NORTH RESIDENCES, ONE NTH GATEWAY 99 1335 3/0 1,300 1,735,500 08/01/10

CO 05 THE INFINITI, WEST COAST PK FH 1270 3/0 824 1,044,750 20/01/10

CO 08 KERRISDALE, STURDEE RD 99 1926 3/0 620 1,196,050 08/01/10

CO 09 CAIRNHILL CREST, CAIRNHILL CIRCLE FH 1130 1/0 1,900 2,147,000 16/01/10

CO 09 PARC EMILY, MT EMILY RD FH 678 1/0 0 0 08/01/10

CO 09 RICHMOND PK, 3 BIDEFORD RD FH 1259 2/0 2,550 3,210,450 23/01/10

CO 09 SCOTTS SQ, 8 SCOTTS RD FH 947 2/0 4,380 4,147,860 08/01/10

CO 09 SCOTTS SQ, 8 SCOTTS RD FH 624 1/0 4,380 2,733,120 08/01/10

CO 09 SKYPARK @ SOMERSET, 21 ST THOMAS WLK FH 3149 3/0 1,980 6,235,020 17/01/10

CO 09 TATE RESIDENCES, CLAYMORE RD FH 1890 3/0 2,800 5,292,000 07/01/10

CO 09 THE COSMOPOLITAN, KIM SENG RD FH 1324 3/0 0 0 05/01/10

CO 09 THE IMPERIAL, JLN RUMBIA FH 1012 2/0 2,000 2,024,000 06/01/10

CO 09 THE INSPIRA, 11 ARNASALAM CHETTY RD FH 1216 3/0 1,500 1,824,000 09/01/10

CO 09 THE METZ, 83 DEVONSHIRE RD FH 581 1/0 2,350 1,365,350 16/01/10

CO 09 THE PIER AT ROBERTSON, 80 MOHAMED SULTAN RD FH 678 1/0 1,881 1,280,000 13/01/10

CO 09 VISIONCREST RESIDENCE, OXLEY RISE FH 1109 2/0 1,900 2,107,100 09/01/10

CO 10 D’GROVE VILLAS, 8A ORANGE GR RD FH 2702 4/0 0 0 16/01/10

CO 10 DUCHESS RESIDENCES, DUCHESS AVE FH 2971 4/0 1,700 5,050,700 02/01/10

CO 10 MELROSE PK, 93 KELLOCK RD FH 1701 4/2 1,600 2,721,600 09/01/10

CO 10 PINETREE CONDO, 28 BALMORAL PK FH 1808 3/0 0 0 23/01/10

CO 10 REGENCY PK, NATHAN RD FH 3175 4/1 1,827 5,800,000 23/01/10

CO 10 TANGLIN REGENCY, 383 TANGLIN RD 99 818 2/0 0 0 12/01/10

CO 10 THE LOFT, 22 NASSIM HILL 99 1098 2/0 1,800 1,976,400 22/01/10

CO 10 THE TESSARINA, WILBY RD FH 1335 3/0 1,300 1,735,500 08/01/10

CO 10 WATERFALL GDNS, FARRER RD FH 2196 4/0 1,550 3,403,800 10/01/10

CO 10 WATERFALL GDNS, FARRER RD FH 2196 3/0 1,550 3,403,800 10/01/10

CO 11 ADAM PL, ADAM RD FH 914 2/0 1,006 920,000 16/01/10

CO 11 AMANINDA, THOMSON RD FH 797 1/0 0 0 09/01/10

CO 11 DUNEARN GDNS, DUNEARN RD FH 1249 3/1 1,488 1,850,000 22/01/10

CO 11 GILSTEAD 38, 38 GILSTEAD RD (PENTHSE) FH 2000 2/0 0 0 23/01/10

CO 11 GLOUCESTER MANS, 10 NEWTON RD FH 657 1/0 1,597 1,050,000 22/01/10

CO 11 HILLCREST ARCADIA, 257 ARCADIA RD 99 926 1/0 972 900,000 23/01/10

CO 11 PARK INFINIA AT WEE NAM, LINCOLN RD FH 1335 3/0 1,450 1,935,750 17/01/10

CO 11 SOLEIL @ SINARAN, 2 SINARAN DR 99 1098 2/0 1,550 1,701,900 17/01/10

CO 11 SOLEIL @ SINARAN, 2 SINARAN DR 99 1098 2/0 1,634 1,800,000 23/01/10

CO 11 SOLEIL @ SINARAN, 6 SINARAN DR (STUDIO) 99 581 1/0 1,598 925,000 09/01/10

CO 11 THOMSON 800, THOMSON RD FH 1625 3/0 0 0 13/01/10

CO 12 OLEANDER TWRS, 911 TOA PAYOH LOR 1 99 1141 3/0 830 950,000 09/01/10

CO 12 OLEANDER TWRS, 913 TOA PAYOH LOR 1 99 1227 3/0 810 1,000,000 21/01/10

CO 12 TREVISTA, TOA PAYOH LOR 3 99 920 2/0 1,030 947,600 23/01/10

CO 13 8 @ WOODLEIGH, WOODLEIGH CL 99 840 2/0 969 810,000 16/01/10

CO 14 ASTON MANS, 3 GEYLANG LOR 42 99 1302 3/0 0 0 10/01/10

CO 14 ASTORIA PK, 34 LOR MYDIN 99 1001 2/0 846 845,000 16/01/10

CO 14 EUNOS PK, 5 KG EUNOS FH 1238 3/0 640 800,000 20/01/10

CO 14 THE SUNNY SPRING, 50 GEYLANG LOR 40 FH 1023 3/0 0 0 16/01/10

CO 15 AMBER RESIDENCES, 50 AMBER RD FH 1518 3/0 0 0 20/01/10

CO 15 BLU CORAL, TELOK KURAU LOR L FH 871 2/1 979 850,000 14/01/10

CO 15 COSTA RHU, 3 RHU CROSS 99 990 2/0 1,313 1,300,000 09/01/10

CO 15 COSTA RHU, 5 RHU CROSS (PENTHSE) 99 4050 4/0 0 0 16/01/10

CO 15 COSTA RHU, 9 RHU CROSS 99 2239 4/0 1,243 2,780,000 22/01/10

CO 15 COTE D’AZUR, MARINE PARADE RD 99 1109 2/0 0 0 23/01/10

CO 15 GRAND DUCHESS AT ST PATRICK, ST PATRICK’S RD FH 1389 3/0 1,100 1,527,900 16/01/10

CO 15 MANDARIN GDNS, SIGLAP RD 99 1001 2/0 890 900,000 08/01/10

CO 15 MANDARIN GDNS, SIGLAP RD 99 2024 3/0 0 0 15/01/10

CO 15 MANDARIN GDNS, SIGLAP RD 99 732 1/0 997 730,000 16/01/10

CO 15 OCEAN PK, 528 EAST COAST RD FH 2110 3/2 1,045 2,200,000 09/01/10

CO 15 SANCTUARY GREEN, TG RHU RD 99 1560 3/0 1,000 1,560,000 16/01/10

CO 15 SANCTUARY GREEN, TG RHU RD 99 1560 3/2 1,000 1,560,000 16/01/10

CO 15 SUNNY PALMS, 65 TELOK KURAU LOR G (PENTHSE) FH 3122 3/0 0 0 09/01/10

CO 15 THE ESTA, 35 AMBER GDNS FH 1593 4/0 0 0 09/01/10

CO 15 THE MAKENA, MEYER RD FH 1658 3/0 0 0 09/01/10

CO 15 THE SEAFRONT ON MEYER, MEYER RD FH 2110 4/2 0 0 22/01/10

CO 15 THE SEAVIEW, AMBER RD FH 1410 3/0 0 0 16/01/10

CO 15 THE SHORE RESIDENCES, 81 AMBER RD 103 592 1/0 1,300 769,600 16/01/10

CO 15 VILLA MARINA, 29 JLN SEMPADAN (PENTHSE) 99 2013 3/0 684 1,380,000 23/01/10

CO 16 BAYSHORE PK, 50 BAYSHORE RD 99 2196 4/0 910 1,998,360 08/01/10

CO 16 BAYSHORE PK, 50 BAYSHORE RD (PENTHSE) 99 3477 5/0 773 2,700,000 20/01/10

CO 16 BAYSHORE PK, 60 BAYSHORE RD 99 950 2/0 900 855,000 16/01/10

CO 16 BAYSHORE PK, 60 BAYSHORE RD 99 2239 4/2 0 0 16/01/10

CO 16 BAYSHORE PK, 60 BAYSHORE RD 99 1076 2/0 0 0 23/01/10

CO 16 COSTA DEL SOL, BAYSHORE RD 99 1346 3/0 0 0 17/01/10

CO 16 COUNTRY PK, BEDOK RD FH 1410 2/0 882 1,250,000 17/01/10

CO 16 EAST MEADOWS, 30 TANAH MERAH KECHIL RD 99 1238 3/0 0 0 06/01/10

CO 16 EASTERN LAGOON I, 214 UP EAST COAST RD FH 700 1/0 1,100 770,000 19/01/10

CO 16 OPTIMA, TANAH MERAH KECHIL AVE 99 484 1/0 0 0 02/01/10

CO 16 SUNHAVEN, 781 UP CHANGI RD EAST FH 1259 3/2 757 950,000 15/01/10

CO 17 BALLOTA PK, MARIAM WAY FH 990 2/0 0 0 12/01/10

CO 17 CASA PASIR RIS, 201 JLN LOYANG BESAR 2260 3/0 0 0 16/01/10

CO 17 DAHLIA PK, FLORA DR FH 1270 3/0 0 0 09/01/10

CO 17 ESTELLA GDNS, 23 FLORA RD (STUDIO) FH 657 1/0 764 500,000 16/01/10

CO 17 FERRARIA PK, FLORA DR FH 1023 2/0 806 820,000 09/01/10

CO 17 LOYANG VALLEY, LOYANG AVE 99 3200 4/0 465 1,500,000 16/01/10

CO 18 MODENA, SIMEI ST 4 99 1464 3/0 705 1,030,000 15/01/10

CO 18 SAVANNAH CONDOPK, SIMEI RISE (PENTHSE) 99 2680 5/0 0 0 02/01/10

CO 18 SIMEI GREEN, SIMEI ST 4 99 1249 3/0 653 820,000 02/01/10

CO 19 COMPASS HGTS, SENGKANG SQ (STUDIO) 99 668 1/0 0 0 08/01/10

CO 19 OASIS GDN, JLN BUNGA RAMPAI FH 946 2/0 1,000 946,000 09/01/10

CO 19 OASIS GDN, JLN BUNGA RAMPAI FH 1216 3/0 0 0 16/01/10

CO 20 BRADDELL VIEW, BRADDELL HILL 99 1700 3/0 584 1,000,000 09/01/10

CO 20 CLOVER BY THE PK, BISHAN ST 25 99 1216 3/0 871 1,060,000 09/01/10

CO 20 GRANDEUR 8, ANG MO KIO CTRL 3 99 1216 2/0 785 950,000 02/01/10

CO 20 GRANDEUR 8, ANG MO KIO CTRL 3 99 1195 3/0 0 0 20/01/10

CO 20 KINGSGROVE, 1801 ANG MO KIO AVE 1 FH 1367 3/0 870 1,189,290 15/01/10

CO 20 THE WINDSOR, ONTARIO AVE FH 1700 3/0 754 1,280,000 21/01/10

CO 21 BLOSSOMVALE, 900 DUNEARN RD FH 1572 3/0 1,290 2,027,880 23/01/10

CO 21 SHERWOOD CONDO, 169 JLN JURONG KECHIL FH 936 2/0 803 758,000 06/01/10

CO 21 THE NEXUS, BT TIMAH RD FH 1066 2/0 1,280 1,364,480 09/01/10

CO 21 THE STERLING, 1001 BT TIMAH RD FH 1011 2/0 1,267 1,280,000 23/01/10

CO 22 LAKEPOINT CONDO, LAKEPOINT DR 99 1884 3/2 457 850,000 06/01/10

CO 22 PARC VISTA, 452 CORPORATION RD 99 1055 2/0 0 0 19/01/10

CO 22 PARKVIEW MANS, YUAN CHING RD 99 1335 3/0 470 640,000 04/01/10

CO 23 CHANTILLY RISE, 82 HILLVIEW AVE FH 1518 3/0 716 1,080,000 07/01/10

CO 23 HILLTOP GR, 134B HILLVIEW AVE 99 1648 4/2 0 0 15/01/10

CO 23 HILLVIEW HGTS, HILLVIE AVE FH 1432 3/0 726 1,038,000 21/01/10

CO 23 MAYSPRINGS, PETIR RD 99 1540 3/0 618 950,000 02/01/10

CO 23 MERAWOODS, 136A HILLVIEW AVE FH 1938 4/0 959 1,850,000 15/01/10

CO 23 PARK NATURA, BT BATOK EAST AVE 6 (PENTHSE) FH 2863 4/0 900 2,576,700 02/01/10

CO 23 REGENT GR, 54 CHOA CHU KANG NTH 7 99 1168 3/0 642 750,000 22/01/10

CO 23 THE DEW, BT BATOK ST 21 99 1206 3/0 647 780,000 16/01/10

CO 23 THE WARREN, CHOA CHU KANG LOOP 99 1313 3/0 680 892,840 09/01/10

CO 26 BULLION PK, 162 LENTOR LOOP FH 1259 3/2 790 994,610 17/01/10

CO 26 SEASONS PK, 499 YIO CHU KANG RD 99 1109 2/0 717 798,000 22/01/10

CO 27 SELETARIS, 507 SEMBAWANG RD FH 1238 3/0 0 0 09/01/10

CO 27 SELETARIS, 511 SEMBAWANG RD FH 1421 3/2 0 0 23/01/10

CO 27 YISHUN EMERALD, CANBERRA DR 99 1184 3/0 580 686,720 09/01/10

PH 01 PEOPLE’S PK COMPLEX, 1 PK RD 99 1119 3/0 0 0 20/01/10

PH 02 THE BEACON, 130 CANTONMENT RD 99 969 2/0 1,300 1,259,700 21/01/10

PH 03 ALESSANDREA, 31 ALEXANDRA RD FH 1098 3/0 1,111 1,220,000 23/01/10

PH 03 REGENCY SUITES, KIM TIAN RD FH 1001 1/0 1,290 1,300,000 08/01/10

PH 09 CAIRNHILL RESIDENCES, CAIRNHILL CIRCLE FH 1237 3/0 2,400 2,968,800 15/01/10

PH 09 LUCKY PLAZA, 304 ORCHARD RD 99 875 2/0 0 0 08/01/10

PH 09 ROBERTSON 100, 100 ROBERTSON QUAY FH 1001 2/0 1,481 1,490,000 08/01/10

PH 09 VIDA, 5 PECK HAY RD FH 861 2/0 0 0 01/01/10

PH 09 VIDA, 5 PECK HAY RD FH 840 2/0 2,200 1,848,000 22/01/10

PH 10 BOTANIC GDN VIEW, TAMAN SERASI FH 1259 2/0 2,778 3,500,000 23/01/10

PH 10 CUSCADEN ROYALE, 5 CUSCADEN WLK FH 937 2/0 0 0 02/01/10

PH 10 ONE TREE HILL RESIDENCE, 1A ONE TREE HILL FH 1130 3/0 2,350 2,655,500 22/01/10

PH 10 PARK HSE, 21 ORCHARD BLVD FH 1600 3/2 0 0 23/01/10

PH 10 SHANGHAI ONE, 1 SHANGHAI RD FH 1066 2/0 1,544 1,650,000 15/01/10

PH 10 THE SIERRA, 80 MT SINAI DR 947 979 2/0 1,154 1,130,000 10/01/10

PH 11 1 MOULMEIN RISE, 1 MOULMEIN RISE FH 1238 3/2 1,450 1,795,100 02/01/10

PH 11 IRIDIUM, 11 LINCOLN RD (PENTHSE) FH 2573 4/0 1,285 3,300,000 22/01/10

PH 11 MEDGE, 2 MINBU RD (STUDIO) FH 465 1/0 1,395 650,000 23/01/10

PH 11 MONTEBLEU, 8 MINBU RD FH 1432 3/0 0 0 23/01/10

PH 11 MONTEBLEU, 8 MINBU RD FH 1755 4/0 0 0 23/01/10

PH 11 STRATA, 1 ESSEX RD FH 1292 2/0 1,600 2,067,200 22/01/10

PH 11 TEN @ SUFFOLK, 10 SUFFOLK RD FH 1087 2/0 1,400 1,521,800 20/01/10

PH 11 TEN @ SUFFOLK, 10 SUFFOLK RD FH 1206 3/0 1,400 1,688,400 20/01/10

PH 12 CASA FORTUNA, AH HOOD RD FH 926 2/0 0 0 14/01/10

PH 12 THE MARQUE AT IRRAWADDY, 8 SHAN RD FH 1120 3/0 1,161 1,300,000 10/01/10

PH 12 THE MARQUE AT IRRAWADDY, 8 SHAN RD FH 1098 3/0 0 0 23/01/10

PH 12 THE MEZZO, 205 BALESTIER RD FH 840 2/0 992 838,000 10/01/10

PH 14 PALM LODGE, GEYLANG LOR 37 FH 1528 4/0 604 930,000 23/01/10

PH 15 FORTREDALE, 2 TG RHU RD FH 1350 3/0 1,200 1,620,000 12/01/10

PH 15 FORTREDALE, 2 TG RHU RD FH 1400 3/0 1,250 1,750,000 12/01/10

PH 15 NEPTUNE CT, MARINE VISTA 99 1636 3/1 828 1,350,000 09/01/10

PH 21 GRAND REGENCY, 9 JLN RAJAWALI FH 1119 2/0 0 0 16/01/10

PH 23 THE LINEAR, UP BT TIMAH RD FH 1227 3/0 835 1,030,000 15/01/10

PL 08 VOGX, DORSET RD FH 538 1/0 1,296 699,000 09/01/10

PL 10 D’DALVEY, 23 DALVEY EST (DUPLEX) FH 1701 3/0 0 0 12/01/10

PL 10 D’DALVEY, 23 DALVEY EST (DUPLEX) FH 1550 3/0 0 0 12/01/10

PL 11 KHEAM HOCK GDN, 38 KHEAM HOCK RD FH 1400 3/0 1,500 2,100,000 22/01/10

PL 11 NOVENA LODGE, 2 JLN MERLIMAU FH 990 3/0 1,162 1,150,000 22/01/10

PL 14 D’ASIA, 13 LOR MELAYU FH 538 1/0 1,086 585,000 16/01/10

PL 15 EAST BAY, 1 TAY LIAN TECK RD (PENTHSE) FH 1130 3/0 0 0 22/01/10

PL 15 HERITAGE RESIDENCES, 101 TELOK KURAU LOR L FH 1173 3/1 937 1,100,000 02/01/10

PL 15 MOUNTBATTEN SUITES, 861 MOUNTBATTEN RD FH 753 1/0 882 668,000 20/01/10

PL 15 RESIDENCES 66, 66 TELOK KURAU RD FH 1119 3/0 0 0 16/01/10

PL 15 THE MEDLEY, 66 TELOK KURAU LOR G (PENTHSE) FH 2013 4/0 850 1,711,050 21/01/10

PL 15 THE MEDLEY, 66 TELOK KURAU LOR G (PENTHSE) FH 1346 3/0 957 1,280,000 22/01/10

PL 16 THE CALYPSO, UP EAST COAST RD FH 840 2/0 0 0 02/01/10

PL 21 THE BEVERLY, TOH TUCK RD FH 1884 4/0 0 0 10/01/10

PW 03 TIONG BAHRU RD, TIONG BAHRU RD (WALK UP) 99 1200 3/0 567 680,000 22/01/10

PW 15 JOO CHIAT RD, JOO CHIAT RD (REFER SOLE AGT) FH 1100 3/0 536 590,000 08/01/10

PW 16 CAMELODGE, UP EAST COAST RD (MAIS) FH 1800 4/0 667 1,200,000 21/01/10

PW 16 LUCKY HGTS, LUCKY HGTS (WALK UP) FH 1389 3/0 635 880,000 02/01/10

PW 19 PEOPLE’S GDN, REALTY PK LOR 1 (WALK UP) FH 1200 1/0 620 750,000 15/01/10

The Ministry of Law has announced that the Land Titles (Strata) (Amendment) Act, enacted by Parliament on 20 September 2007, will take effect from 4 October 2007. It will affect en bloc sale projects in the following ways:

The new amendments are summarised as follows:

(I) Additional Consent Requirement – by building’s GFA

In the past, an application for an en bloc sale can be made if there is consent from the owners holding at least 80% of share value if the development is more than 10 years old, and 90% if the development is less than 10 years old.

1. The new rule of majority consent requires approval from owners representing at least 80% of the building’s gross floor area (GFA) if the development is more than 10 years old, or 90% if it is younger than 10 years old.

(II) Formation and Proceedings of an En Bloc Sale Committee

Previously, the law did not contain rules to govern the formation and the proceedings of an en bloc sale committee.

The new rules regulate the formation of the sale committee and the sale committee’s proceedings. These rules have been adapted from the provisions in the Building Maintenance and Strata Management Act (BMSMA) 2004 in respect of the council of the management corporation. Other details include the following:

(a) Formation of Sale Committee

• (2) A decision to form an en bloc sale committee will have to be made by ordinary resolution passed at a general meeting. There can only be one sale committee per development at any time.
• (3) Members of the sale committee will have to be elected at the meeting. Similarly, a sale committee may be dissolved by ordinary resolution at a general meeting.
• (4) A person standing for election to the sale committee must meet certain eligibility criteria. For example, such a person has to be an owner of a unit in the development; or be nominated by an owner which is a company; or be a member of the immediate family of the owner who is nominating him.
• (5) A person standing for election to the sale committee must declare his interest or relationship, if any, with a property developer, property consultant, marketing agent or legal firm.

(b) Proceedings of Sale Committee

(6) The sale committee shall convene general meetings to consider key issues including the following:

• the appointment of any lawyer;
• the appointment of property consultant;
• the appointment of marketing agent;
• the apportionment of sale proceeds;
• the terms and conditions of the Collective Sale Agreement (CSA); and,
• the terms and conditions of the Sale and Purchase (S&P) agreement.

These changes will ensure that owners will have the opportunity to discuss such key issues before consenting to them.

• (7) The sale committee shall keep minutes of its proceedings and must, within 7 days after each meeting, either display the minutes on the management corporation’s notice board or pass the minutes to all owners.

(III) Collective Sale Agreement

Previously, the law did not regulate drafting and signing of the CSA. There are three changes made to the rules, including:

• (8) The en bloc sale committee must provide a preface to the CSA listing the clause numbers and page numbers where important information such as reserve price, apportionment method, etc. may be found.
• (9) When an owner signs the CSA in Singapore, the lawyer appointed for the en bloc sale will have to be present to explain the legal terms and liabilities and address any doubts that the owner may have.
• (10) An owner can rescind his agreement to be a party to the CSA within a 5-day cooling-off period after signing the CSA for the first time.
• (11) The Sale Committee must provide updates of the consent level every 4 weeks. The updates on the consent level must also be certified by a lawyer.
• As it is, the CSA will lapse after one year from the first signature. When no buyer is forthcoming after that one year, the Sale Committee ceases to exist.

(IV) Mode of Sale: By Public Tender or Public Auction

Previously, the mode of sale was not regulated. Now the new rules require the mode of sale to be as follows:

• (12) Every launch of an en bloc sale must be by public tender or auction.
• (13) Following a tender or auction, especially one which fails to achieve the price acceptable to the sale committee, the sale committee can engage in follow-up negotiations for sale by private treaty with any bidder to get the best deal for the owners. But any sale by private treaty must be concluded within 10 weeks from the close of the tender or auction.
• (14) The sale committee must obtain from an independent valuer a valuation report on the value of the en bloc sale site as at the date of the close of the tender or auction on the same date.
• (15) The sale committee will be required to provide the owners with information on the bids received as soon as practicable after the close of the tender or auction or, where applicable, after the sale committee has entered into a sale by private treaty.

(V) Return of Moneys in Management Fund and Sinking Fund
Previously, the buyer-developer was entitled to the moneys remaining in the management fund and sinking fund upon the termination of the strata scheme following an en bloc sale.

(16) The new rules provide that upon the legal completion of an en bloc sale, the moneys in the management fund and sinking fund of a management corporation shall be returned to the en bloc sellers according to their shares value allotments.

Compiled by Sam Gian – Independent Real Estate Sale Consultant & Trainer

600+ units Pasir Ris Land Parcel 2 by CDL
1000+ units Former Minton Rise by Kheng Leong
608 units Yishun Ave.1 by MCL Land
393 units Former Flamingo Valley by FCL
1555 units at Farrer Court by Capitaland

Preview coming soon! Register your interest +65-92993342 for preview.

For Singaporeans looking to invest in property, the home market is just one option.

Ms Jacqueline Wong, head of residential at Jones Lang LaSalle (JLL), says that as prime residential properties in Singapore become more expensive, investing overseas becomes an affordable option.

This year, investors may want to venture further – particularly to Britain and Australia, cited as main picks for the year by industry experts. In Britain, London appears strongly on the radar.

Industry players share the view that a depreciated currency and a devalued market make London properties a worthy investment.

The managing director of DST International Property Services, Mrs Doris Tan, believes ‘it’s a good time for investment both for capital appreciation and currency appreciation’. Aside from potential capital gains, investors can also look forward to reaping good yields.

Mrs Tan adds that returns for commercial properties in London are still decent, amounting to a net of 6 per cent to 8 per cent per annum. The good yields are not limited to commercial properties; residential ones offer the same advantage.

The regional director of international properties at Colliers Darien Bradshaw believes that yields of close to 5 per cent to 6 per cent can be achieved in upcoming areas like Canary Wharf in East London, commonly referred to as London’s main office and financial district, where demand was hit hard due to the credit crunch last year.

Still, two of Colliers International’s best-selling projects last year were Maple Quay and Dalston Square, both in the vicinity of Canary Wharf.

Mr Tim Murphy, managing director of IP Global, however, believes yields may be lower at Canary Wharf because of the large supply of developments there. He is more positive about areas in Central Eastern London, where good deals in the &pound300,000 (S$680,000) range can be found, and North London, in particular, Islington and Hoxton.

These locations represent new avenues for Singaporeans to invest in, besides the key prime locations. The ease of buying and transparency are further plus points for buying properties in Britain, say industry experts.

Mr Bradshaw notes: ‘Record-low interest rates, low stamp study rates, no capital gains tax, a good rental and resale market and no restrictions on foreign ownership are some of the main pull factors for London.’

Mr Murphy warns, however, that buyers should be buying completed and not planned properties to eliminate currency risks if and when rates change adversely.

Singaporeans who plan to send their children for education in Britain have a reason to invest in a property in London.

St James Urban Living is the developer of Silkworks, a 330-apartment complex in Lewisham, on the outskirts of south-east London, with prices starting from &pound199,000.

It held two exhibitions in Singapore last year and received 40 reservations from Singaporean parents, according to Mr Tim Reid, account director at TTA Public Relations in Britain for whom the developer is a client.

Parents who plan to send their children to Australia likewise are keen to buy properties Down Under.

Stronger interest from Singapore in residential and commercial properties has been noticed, says the head of Asia-Pacific research at DTZ, Mr David-Green Morgan. From the end of 2008 to last year, The National Australia Bank (NAB) saw a 20 per cent increase in its Australian loan book, says NAB’s country head in Singapore, Ms Vivien Koh.

The appreciation in the Australian dollar against most currencies – it is now A$1.25 against the Singapore dollar – is not putting investors off, according to Mr Morgan.

He says: ‘Investors overseas may see it as a strength in the economy and consider this a good time to get in.’

Melbourne, especially, has been a very popular choice, says Mr Sean Parker, project consultant at JL Property Group.

‘It (Melbourne) is still perceived as being affordable and almost all properties are freehold. Rental yields are at an all-time high as stock is low,’ he says.

He adds that returns on residential properties are around 5 per cent to 6 per cent while those on commercial properties are around 7 per cent to 9 per cent.

Despite an advantageous tax structure – investors get the same tax benefits as locals – Australia may not be free of regulatory hurdles. There are some restrictions on foreign ownership and purchasers who are foreign residents can buy only primary or first-hand property, Mr Bradshaw points out.

Looking ahead, positive sentiments in the Australian economy are likely to bring about more rewards for investors.

‘As sentiments continue to improve for Melbourne, Sydney, Perth and Brisbane, coupled with a major investment of US$50 billion (S$70 billion) in natural resources from China in August last year, there is sufficient stimulation that could lead to more positive gains in 2010 to 2012,’ he says.

Other markets such as Thailand, China and India are also attracting interest from Singapore investors, albeit at a slower pace.

Existing policies, tax regulations and prohibitions of ownership in these countries can sometimes deter purchasing. In India, for example, a lack of familiarity, bureaucracy and greater barriers to entry make acquiring property difficult, says Mr Morgan.

This year will see a wide array of overseas property launches. From London, DST has introduced Baltimore Wharf in Canary Wharf. London properties will also dominate Colliers’ overseas projects, including Lanterns Court, also in Canary Wharf.

In the first quarter of this year, Savills will showcase two projects in Sydney, one in Auckland, a group of good class bungalows in Kuala Lumpur and two developments in London.

JLL will be showcasing two projects – Firstlight Noosa in Queensland, Australia, and the yooPhuket, in Phuket, Thailand.

This weekend, Eastern and Oriental Berhad, a Malaysian property developer, is introducing the Quayside – water-themed luxury condominiums in Penang – to Singaporeans for the first time. The event, which started yesterday, is held at the St Regis hotel where the Quayside’s largest one-bedroom suites starting from 1,137 sq ft are featured.

Consumers are spoilt for choice – all the more reason to be wise and well-informed before making decisions. Ms Wong says: ‘Investors should study details like types of ownership, types of land titles (freehold or leasehold), taxation and acquisition fees, ownership and selling restrictions, before making an investment decision.’

Source : Sunday Times – 24 Jan 2010