Economic Affairs

En bloc effect: Smaller shoebox units?

With about 50-60 projects sold collectively since end-2016, en bloc fever rages on. The new 20,000 units coming on stream will set new norms in prices and flat sizes.

Singapore is in the throes of en bloc fever. Since the end of 2016, there have been about 50 to 60 residential projects sold collectively, or en bloc, to developers to be knocked down and redeveloped into new units.

Many of these fetched record high prices at public tenders and private collective sales as developers rushed to replenish their land banks in a market that is rapidly heating up. The total value of these sites have netted a whopping $15 billion so far.

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A version of this article appeared in the print edition of The Straits Times on April 11, 2018, with the headline 'En bloc effect: Smaller shoebox units? '. Print Edition | Subscribe