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Sim Lim Square set to launch en-bloc sale at S$1.3b

“Tech mecca” Sim Lim Square will be put up for collective sale, after securing the requisite agreement of at least 80 per cent of its owners.

Analysts told TODAY before that capital may have shifted to commercial properties, away from residential ones, since the cooling measures imposed last July affects only residential redevelopments.

Developers have to pay an Additional Buyer’s Stamp Duty (ABSD) of 25%, in addition to a non-remissible 5 per cent ABSD when buying land for residential redevelopment.

– Updated 21 March, 2019

Read Full Article at https://www.todayonline.com/singapore/sim-lim-square-set-launch-en-bloc-sale-after-getting-80-cent-consent-owners

Posted in Enbloc Sale / Collective Sale, Singapore Property News and tagged , .