Sure you want to enbloc now?
Many calls are now pouring in from concerned homeowners worrying how the governments new cooling measures would affect market sentiments as well as the progress of their collective sale.
The government's surprise release of new property cooling measures has left many homeowners jittery, especially those planning to go en bloc. Why?
Developers are expected to take a cautious stance in bidding for new sites. Making the reserve price lower and the potential offers surely drop as developers tax on purchase (ABSD) is doubled from 15% to 30%.
So it's the homeowner who will end up indirectly paying this levy.
So even if enblocs get their 80%, the deal is not done till the developers bid. And when the bids don't meet the reserve - many developers offer a lower bid during private discussions.
So the pie is smaller, and shrinking...
So there's the game of negotiating the price down even further after the bids fail...
And buying 1 - 2 years later in an even higher market!
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