The possibility of an en bloc sale of Braddell View HUDC estate is being hampered by its unique status.
Out of 18 HUDC estates, Braddell View is the only one that has yet to be privatised or assigned for privatisation.
This means that the 30-year-old estate, which has an area of 106,000 sq m, cannot be released for en bloc sale yet.
However, some real estate agents are hoping to attract buyers for capital appreciation by emphasising the development’s collective sale potential in their listings.
According to The Straits Times, the Housing and Development Board (HDB) noted that the project has not yet been classified for privatisation since it was developed in two phases, each phase having an individual state lease with a different expiration date.
It added that the issue of lease harmonisation has to be resolved before the estate can be privatised.
DTZ Sales Director Sherry Tang, who markets the units in the estate, noted that there has been “very healthy interest” in the development.
“The possibility of a collective sale is still there and the lease situation is likely to be resolved one day… so buyers think that, since Braddell View is well-located and of a good size, they can at least enjoy the space and facilities while waiting,” she said.
Prices in the estate have increased in the past year, attributed to the booming real estate market.
In the first half of 2011, 18 units at Braddell View were sold at an average unit price of S$706 psf, according to caveats lodged with the Urban Redevelopment Authority (URA), compared with 26 deals at an average price of S$604 psf in the same period in 2010.
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