In general, a block sale means that owners are offered a golden handshake in exchange for a collective farewell to their property. The controversy is due to the fact that not everyone needs to approve the agreement, and therefore for some, the golden handshake – no matter the gold – is also a kind of slap. First, and this is the most consensual, there could be the opportunity for a very lucrative sale where the owners come together and sell the whole block to get a better price together than they would get individually. If a buyer buys a private property and 4 years ago, the owner is obliged to pay SSD? The logic of selling the En Bloc is that, in rural countries or densely populated cities, the tides of time will result in the development of zones and neighbourhoods at different speeds. When time goes on, the old one sometimes has to make way for the new. But how about those who still live in the old? To mitigate these events, the government has put in place collective sales laws. The idea is then to make it still possible for the blocks, and therefore the threshold of 80% has been put into practice to find a balance between respect for the law on private property and taking into account the common good of the neighborhoods. In this way, if a sufficient quantity wanted to sell a development, the minority will have to give way. In practice, it is really not easy to get 80% of a collective sale to change, and financial compensation is generally very high as such. Before the global financial crisis reached the coasts of Singapore (and thus before the introduction of seven cooling cycles), the expected benefits were high and the second and third crossings were the most frequent. In fact, buyers were widespread, and prices would often go through the roof. Today, developers are much less willing to make the leap, and a whole series of developments have always gone in bulk just to be disappointed by the lack of reaction from potential buyers.
Important: The government significantly overturned and amended bulk sales laws every two years, the last time in 2007 and 2010. To date, not exactly 80% of the population agrees with the sale that an agreement is viable. Instead, it is necessary for the owners, who hold at least 80% of the value of the shares and 80% of the total surface area of the layer, to be in agreement with the sale. Even if it only looks like a legal jibber-jabber, it is important to understand; it simply means that votes are awarded on the basis of the value of the shares and not on the number of units held. In the event that a large number of more luxurious and rated units or units had a relatively small number of people, less than 80% of the population and perhaps even a minority could decide the future of the entire bloc. You have finally found the house of your dreams, you have made it your home, life is good, and then someone harasses her and decides to build a proverbial highway in the middle. Although the power of private ownership is considerable, it is not absolute – and in certain circumstances, the government or developers can grab it, force you to sell and take back your home. In Singapore, the often cited way of making acquisitions back is through a collective sale, colloquially known as bulk selling, sometimes liked, sometimes dreaded.