In this podcast, we will talk about this round of en bloc wave for residential projects, which is fast approaching the end of it.
We will look at some facts and data of the en bloc market. When trying to explore the mindsets of en bloc buyers and sellers, I am using the analogy of the different positions of customers and the owner in a restaurant. Next, we will discuss how en bloc deals can go soar. Finally, we will find out where the en bloc owners have gone.
Before we end the video, let’s identify the big “winners” of the en bloc saga. You can make a guess first before watching the video.
1) What’s happening in the en bloc market
2.) What’s on the mind of buyers and sellers
3) How en bloc deals can go soar
4) Where have en bloc owners gone
You can now watch the podcast below. The video comes with full script or subtitles. If you are watching from your mobile, ensure that the “Caption” function is on. If you are on your desktop, turn on the “cc” button – the leftmost button at the bottom right hand corner.
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With positive response from the last session, I am re-running the Finding and Managing Residential Rental Properties Workshop on March 9. Sign up now and see you there!
I feel bad for anyone who needed the en bloc sale for retirement or who would like or needs to sell their unit in a en bloc potential property now. What buyer wants to buy a home and risk having to pay sellers stamp duty (SSD) if the en bloc goes through before 5 years. I wanted to buy Fernwood Towers because I like the well maintained facilities and larger interior space of the older condominium style with service yard. But who is going to buy that now without a guarantee of no en bloc for 5 years unless its a very low price.
On the other hand if a collective sale is unlikely for more that 5 years it might create a buying opportunity with a big upside in 10 years or so??
I understand how you feel. I also bought two more than 20-year-old properties last time. They have good location, very spacious and with good layout. My neighbors were close to retirement age while I wasn’t even married. What we expect to get from the property is very different.
I was never a big fan of en bloc. It’s not so straight-forward. I have seen the ugly side of the en bloc process in my two properties. The monetary reward can’t compensate the disruption of my peace of mind. And I know en bloc is not the only way to make money out of properties,, like what all these en bloc hopefuls believe in.