Singapore's 'en-bloc' redevelopment fever may be cooling [Reuters]
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Source: Reuters
Singapore's 'en-bloc' redevelopment fever may be cooling | Reuters 6 Min Read SINGAPORE (Reuters) - Singaporean engineer Andy Goh has stopped saying hello to some neighbors in his condominium. The mood in the 596-apartment Cashew Heights complex is “tense and stressed” after an initiative late last year to offer it for collective sale to a property developer, said Goh, 49. A firm opponent of the deal, worth at least S$1.88 billion ($1.43 billion), he feels outnumbered by owners who want to cash out. Recalling a meeting in his condominium last month, Goh, who worries the sale price won’t allow him to buy a new home of comparable size, said his dissenting voice was drowned out by the other owners. Singapore has seen a frenzy of so-called en-bloc deals over the last two years in the redevelopment market, a phenomenon that has made some Singaporeans millionaires, inspired hit television shows and turned neighbors into enemies. David Wong, a member of Cashew Heights’ pro-en bloc committee,
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