Will We See An En-Bloc Revival In 2025 Because Of This New Rule?
There’s hope yet for the en-bloc scene for bigger properties, as of this week.
The Government has announced planned revisions to ABSD deadlines for developers. These will be applied to “complex large-scale urban transformation developments,” in which ABSD deadlines can be extended from six to 12 months.
By “large-scale,” the definition seems to be projects with at least 700 units, or 1.5 times the number of homes in the existing development (e.g., a 300-unit project being redeveloped into something with 750 units). It also applies to projects under the Strategic Development Incentive (SDI) scheme, but this is less relevant to residential housing (the SDI is an initiative to rejuvenate older commercial buildings.)
Prior to this change, developers would have only five years to complete and sell out a development. Failure to do so would result in the loss of ABSD remission.
This is a boost to the en-bloc market
The five-year ABSD remission deadline was designed to prevent land hoarding. If we didn’t have this rule, developers could buy up land, refuse to build anything for ages, and sell at inflated prices due to artificial scarcity. So it’s a good thing we have a five-year time limit.
Unfortunately, there wasn’t sufficient differentiation. A 1,000+ unit mega-project would have the same five-year time limit as a small, 300-unit condo. This made developers hesitate to buy up large plots in en-bloc sales; most weren’t confident that they would move so many units in such a short time.
This was a major challenge in projects like Normanton Park, a former HUDC estate of the same name, which is now a 1,862-unit condo (although judging from the sales performance of all the mega-developments so far, sales haven’t really been an issue).
Now that there are deadline extensions for these larger projects, developers may be less hesitant to buy larger en-bloc plots. This could inject some life into the struggling en-bloc scene, while also helping to raise the stock of available housing.
I would expect more large and mega-developments from this, in addition to improved en-bloc prospects. But it could also mean developers of larger projects feel less pressure, and perhaps even less need to give a higher commission to property agents to move such projects. Now they have more time on their side, after all.
Another big change is to the Silver Housing Bonus (SHB) scheme.
This is a support scheme for older Singaporeans, looking to supplement their retirement income by right-sizing to a smaller flat. SHB provides a cash bonus to right-sizers, and also tops up their CPF Retirement Account (RA) with a part of the proceeds (full details on the scheme here.)
Right now, SHB is available to seniors (aged 55 and above) who sell HDB flats or private properties with an Annual Value (AV) of $21,000 or less. But from 1st December 2025, SHB will also include seniors selling private properties with an AV between $21,000 and $31,000. At this AV range, SHB will be available for some smaller or older condo units.
This could have an impact on 3-room or smaller resale flats. SHB encourages more seniors to right-size to smaller flats; but I’m imagining the impact of condo owners right-sizing to 3-room flats. Even selling a fringe region two-bedder could buy you whatever 3-room or 2-room flat you want; and it could result in a group of right-sizers who are totally unfazed by higher asking prices, Cash Over Valuation (COV), and so forth.
But it does provide one more housing solution to an ageing society, and we need to be as prepared as we can for the coming silver tsunami.
Meanwhile in other property news…
- If you absolutely must live in Tampines, here are the cheapest condos we’re able to find there, from as low as $688,000.
- The black mark on many developers’ sales report cards, as of 2025, is the dual-key unit. What is it that’s making these units so tough to move?
- Can Golden Mile still be a luxury without its Mookata? The public will decide with the sales of Aurea.
- We may have seen another echo-chamber effect: online voices almost unanimously complained about ELTA’s $2,537 psf price – so why is it defying the odds and selling well anyway?
Weekly Sales Roundup (24 February – 02 March)
Top 5 Most Expensive New Sales (By Project)
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| 32 GILSTEAD | $14,609,000 | 4198 | $3,480 | FH |
| THE AVENIR | $8,594,000 | 2411 | $3,564 | FH |
| MEYER BLUE | $6,249,000 | 1905 | $3,280 | FH |
| 19 NASSIM | $5,370,000 | 1475 | $3,641 | 99 yrs (2019) |
| MEYER BLUE | $5,263,000 | 1528 | $3,443 | FH |
Top 5 Cheapest New Sales (By Project)
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| PARKTOWN RESIDENCE | $1,158,000 | 506 | $2,289 | 99 years |
| PINETREE HILL | $1,394,000 | 538 | $2,590 | 99 yrs (2022) |
| LUMINA GRAND | $1,397,000 | 936 | $1,492 | 99 yrs (2022) |
| NOVO PLACE | $1,405,000 | 872 | $1,611 | 99 yrs (2023) |
| THE LAKEGARDEN RESIDENCES | $1,428,600 | 700 | $2,042 | 99 yrs (2023) |
Top 5 Most Expensive Resale
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| THE TRIZON | $9,758,888 | 5737 | $1,701 | FH |
| LEEDON RESIDENCE | $7,600,000 | 2669 | $2,847 | FH |
| THE INTERLACE | $5,468,888 | 3412 | $1,603 | 99 yrs (2009) |
| THE PATERSON | $5,400,000 | 2250 | $2,400 | FH |
| THE FORD @ HOLLAND | $3,950,000 | 1894 | $2,085 | FH |
Top 5 Cheapest Resale
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| D’WEAVE | $688,000 | 398 | $1,727 | FH |
| THE SANTORINI | $710,000 | 463 | $1,534 | 99 yrs (2013) |
| THE CITRON RESIDENCES | $720,000 | 388 | $1,858 | FH |
| THE MINTON | $720,000 | 549 | $1,312 | 99 yrs (2007) |
| # 1 LOFT | $738,888 | 560 | $1,320 | FH |
Top 5 Biggest Winners
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
| THE TRIZON | $9,758,888 | 5737 | $1,701 | $3,208,888 | 9 Years |
| HAIG COURT | $2,838,800 | 1442 | $1,968 | $2,040,243 | 19 Years |
| THE BLOSSOMVALE | $3,890,000 | 1744 | $2,231 | $1,930,000 | 14 Years |
| BISHAN LOFT | $2,350,000 | 1389 | $1,692 | $1,796,408 | 23 Years |
| BUONA LODGE | $2,480,000 | 1636 | $1,516 | $1,760,000 | 18 Years |
Top 5 Biggest Losers
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
| ORCHARD SCOTTS | $3,780,000 | 2228 | $1,696 | -$576,000 | 15 Years |
| PALM ISLES | $2,800,000 | 3757 | $745 | -$91,720 | 9 Years |
| ONE SHENTON | $1,160,000 | 581 | $1,996 | -$31,050 | 14 Years |
| THE CITRON RESIDENCES | $720,000 | 388 | $1,858 | -$10,000 | 10 Years |
| SELETAR PARK RESIDENCE | $770,000 | 592 | $1,301 | $23,114 | 12 Years |
Transaction Breakdown
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