Mandarin Gardens Enbloc 2020

[blackmondy]

I hope Wuhan virus pops up inside there and the whole condo gets a lockdown. Some deaths would be nice too.

 

[ckmpd]

Issues 4, 5, 6 can be better addressed. There can be a more fair formula,,,like maybe increase those high floors etc with a few percentage more,,,etc,,can tier it like HDB,,high floors more expensive than low floors..and actually small flats are actually more expensive than bigger flats,,so just throw in a few percentage point to address that issue,,and I was an owner at MG,,i will vote for enbloc because of the lease run down. and at most just buy another one or move to HDB and keep the cash in the bank.


Issues ,2,3 will bankrupt a person because all these are just feelings,,such feelings are not forever,,issue 1 for location,,alot of other good locations ,,not as if the whole of singkieland only got MG which is 'good' location. And concerning the 'view'...views are very over rated because u look at it after a few weeks also sian….to me most important is comfort and convenience and of course a good location not a bad location. To me bad locations are Shitkang, Slumggol and Yislum...but if I desperate,,I will take Yislum,,,lesser of 3 evils in terms of location.

Bottom line is if its a 99yo lease hold,,,better to enbloc and keep the cash,,,depreciating asset

4, 5 and 6 are great problems. Certain owners can never be satisfied. If they make 90%, they are not happy because someone else makes 98%

 

[Hypocrite-The]

4, 5 and 6 are great problems. Certain owners can never be satisfied. If they make 90%, they are not happy because someone else makes 98%

Than don't en bloc,,,,and the ones that don't want to en bloc will also suffer when the lease becomes 0

 

[ckmpd]

Than don't en bloc,,,,and the ones that don't want to en bloc will also suffer when the lease becomes 0

I know an India Indian owner. He owns a penthouse. The 2018 proposed enbloc gave him $5.7m although the market value was only $3.7m.That wld have given him a windfall of $2m, a gain of >50%. But he was not happy because some smaller sized units were getting 90%. He refused to sign and hoped enbloc fails. It failed indeed. Now he is trying to sell his unit for $3.8m...I dont understand some people

 

[ckmpd]

One big question concerning the bigger context is the 99 yo lease hold issue,,,what happens when private property leasehold runs out? and these are million dollar apts,,,a lot of unhappy voters,,,not like HDB whereby its few hundred K,...and of course suckers that bought it when it was 700K etc will be stuck, but that is HDB

As in any leasehold agreement, lease runs out means zero value. So the aim of owners must be to cash out when there is value or to top up lease

 

[Hypocrite-The]

I know an India Indian owner. He owns a penthouse. The 2018 proposed enbloc gave him $5.7m although the market value was only $3.7m.That wld have given him a windfall of $2m, a gain of >50%. But he was not happy because some smaller sized units were getting 90%. He refused to sign and hoped enbloc fails. It failed indeed. Now he is trying to sell his unit for $3.8m...I dont understand some people

That is why I always believe that such spiteful stupid decisions will always come back and haunt the decision maker. The Gain was good enough but they sacrifice the Forest for the tree and now,,lost even more,....and one thing about penthouses. Those that buy are those that are filthy rich and strictly buy it due to lifestyle choice. If they lose the penthouse, they have millions of dollars more to buy another one,,its no skin off their nose. A penthouse is a very illiquid property. Only 0.1 % can afford it and its big and hard to sell for an average rich singkie. And with it being a lease hold, its a depreciating asset. So I am soo glad that a greedy person has got his just dessert.

 

[ckmpd]

Than don't en bloc,,,,and the ones that don't want to en bloc will also suffer when the lease becomes 0

Owners must not be short sighted and allow greed to cloud their decision. Dont enbloc, dont rebuild means zero value when lease runs out

 

[ckmpd]

That is why I always believe that such spiteful stupid decisions will always come back and haunt the decision maker. The Gain was good enough but they sacrifice the Forest for the tree and now,,lost even more,....and one thing about penthouses. Those that buy are those that are filthy rich and strictly buy it due to lifestyle choice. If they lose the penthouse, they have millions of dollars more to buy another one,,its no skin off their nose. A penthouse is a very illiquid property. Only 0.1 % can afford it and its big and hard to sell for an average rich singkie. And with it being a lease hold, its a depreciating asset. So I am soo glad that a greedy person has got his just dessert.

Agree. Just because someone makes more, he was not happy and hoped that that someone doesnt get the gain...it is jealousy and envy that will eventually get the better of him...spiteful, envious, small hearted

 

[Hypocrite-The]

As in any leasehold agreement, lease runs out means zero value. So the aim of owners must be to cash out when there is value or to top up lease

And these MG clowns got their just desserts,....now that the en bloc fever is over, if a developer steps in the price will be lower than before,,,with the current over supply of housing it will drag on even longer. The only silver lining I see is the location could be beneficial and might minimise the lost and make it a slower depreciating asset. That whole area is actually an in demand location and with the MRT at its door step it is even more convenient to town etc. And got the beach etc,,,,and the land area for MG will allow the developer to build twice the density effectively doubling the profit. Yappies and young professional families will like it there. and I believe the PAP wants that area to be developed too to utilise the MRT and link it with the Great Southern Plan,,,and its a good place to stay.

 

[Hypocrite-The]

Agree. Just because someone makes more, he was not happy and hoped that that someone doesnt get the gain...it is jealousy and envy that will eventually get the better of him...spiteful, envious, small hearted

I see these traits very common in fuckeins and ah nehs,,every small advantage they want to squeeze,,,basically the Jews of the East,,,they don't believe in 'hup chok' and win win for everyone,,,greed often leads to a downfall,,,

 

[ckmpd]

And these MG clowns got their just desserts,....now that the en bloc fever is over, if a developer steps in the price will be lower than before,,,with the current over supply of housing it will drag on even longer. The only silver lining I see is the location could be beneficial and might minimise the lost and make it a slower depreciating asset. That whole area is actually an in demand location and with the MRT at its door step it is even more convenient to town etc. And got the beach etc,,,,and the land area for MG will allow the developer to build twice the density effectively doubling the profit. Yappies and young professional families will like it there. and I believe the PAP wants that area to be developed too to utilise the MRT and link it with the Great Southern Plan,,,and its a good place to stay.

MG is trying to start the next wave of enbloc and tries to be the early bird that catches the enbloc worm when the enbloc fever starts.

The MG Rebuild is an interesting concept, worth pursuing. It may set the precedence and replace enblocs

 

[ckmpd]

I see these traits very common in fuckeins and ah nehs,,every small advantage they want to squeeze,,,basically the Jews of the East,,,they don't believe in 'hup chok' and win win for everyone,,,greed often leads to a downfall,,,

Yes, these petty owners dont know how to cooperate and enlarge the pie but squibble abt the other man getting a slightly bigger pie.

 

[Hypocrite-The]

MG is trying to start the next wave of enbloc and tries to be the early bird that catches the enbloc worm when the enbloc fever starts.

The MG Rebuild is an interesting concept, worth pursuing. It may set the precedence and replace enblocs

With the existing over supply,,the en bloc fever will not be as hot as in the past,,,MG can still en bloc but the price is not as good as before,,,

 

[ckmpd]

With the existing over supply,,the en bloc fever will not be as hot as in the past,,,MG can still en bloc but the price is not as good as before,,,

Yes...but the Rebuild rather than enbloc is really the ace in the deck now

 

[ckmpd]

I hope Wuhan virus pops up inside there and the whole condo gets a lockdown. Some deaths would be nice too.

MG is not SG's public No 1 enemy

 

[bushtucker]

This Mandarin Gardens' new en bloc attempt will fail as terribly as Pine Grove.

Recession is coming and the land developers are not as hungry as before as they ate a lot during the enbloc fever of 2017 and 2018.

 

[maxxi]

It will costs 258 million to top up Mandarin gdns leasehold.

WhICH DEVELOPER going to pay 3 billion for MG?

And how much can they sell new units for 3000psf?

 

[ckmpd]

This Mandarin Gardens' new en bloc attempt will fail as terribly as Pine Grove.

Recession is coming and the land developers are not as hungry as before as they ate a lot during the enbloc fever of 2017 and 2018.

Reward awaits the brave. Obviously, those in post#1 dont agree with you. Now enbloc is not the only option. Rebuild is the main consideration

 

[ckmpd]

It will costs 258 million to top up Mandarin gdns leasehold.


WhICH DEVELOPER going to pay 3 billion for MG?

Look at HK

 

[maxxi]

HK has the China hinterland to back her up and in 2047 will return to motherland.

Singapore has angry Muslim neighbors surrounding her.