Property En-Bloc Sales Expected To Slow In H2
En-bloc sales could slow down in the second half of 2007 compared to the first six months as sentiments in the property market turn cautious. A combination of factors - uncertainties in the financial markets prompted by the US sub-prime crisis; more vocal minority owners; uncertainties with the proposed new laws on en-bloc deals and the government's move to raise development charge rates - can have dampened developers' appetite for en-bloc deals.
In addition, developers have also bought quite a bit of sites in the first half of this year and are more cautious with the recent high expectations of owners.
As a result, property consultants say owners may now need to temper their expectations in terms of asking prices.
In addition, developers have also bought quite a bit of sites in the first half of this year and are more cautious with the recent high expectations of owners.
As a result, property consultants say owners may now need to temper their expectations in terms of asking prices.
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