For those just purchased a unit there & if it's being en bloc within the first 3yrs, will the owner be penalised by the bank?
There is no certainty whether a development will be en bloc or not. I do not wish to put a figure % on the possibility of an en bloc, as that will just be plucking figures out of thin air.
To determine the potential of en bloc, you will have to understand the gist of it. Why do Developers want to do en bloc? What is the potential of the site? How much is the Developer's cost going to be? How much can they sell the units in the future? All these are questions you have to ask yourself.
As for the bank loan penalty, it is almost negligible, if any. And usually you will have ample time to redeem your loan from the time of enbloc to the completion.
What you should be concerned will be the SSD period. If the enbloc falls within your SSD period, you may have to pay the relevant SSD to IRAS.
Are you an owner in Elias Green? Or are you looking to purchase a unit there?
Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you and your partner in the current market.