Running to stay in the same place!

D'Leedon and former Farrer Court is just one example

For anyone who thinks en blocs give the dividends of your dreams THINK AGAIN.

Here's a real live scenario to prove that it's a pipe dream to think that you can reap huge rewards in an en bloc.

Look what happened in the district 10 Farrer Court which was said to be the biggest en bloc to date.

The new 99 year D'Leedon in King's Road which is being built by CapitaLand with its 1,715 units has its asking price set at about $1800 per sq ft. Even if the units sold at 1600 per sq ft, that is $2.56m for a unit which was sold for around $2.2m.

Old owners of the Farrer Court site are being invited back... ha ha they will have to borrow as their en bloc proceeds fall short of the prices for D'Leedon...

It would surely have been better to pay $30,000 each and upgrade the old Farrerr Court than watch as property prices sky rocket further, making resettlement to the outskirts of the city in a smaller unit.

We often wonder about the logic or money sense of it all: buying back in same location at a higher price than the en bloc "windfall"? After a five year wait?  Is there really a profit to the seller in an en bloc? Nope, it's to the developer.

Moreover, the new development will be close to the Farrer Road MRT. 

Did the owners sell out too cheaply for a location near to the MRT? 

If you have to buy like-for-like units at a higher price for the same location, after five years of being a nomad without a real home, as debaters say, the proposition for an en bloc must fail!!