Why Keep Ocean Park

At Ocean Park, many of us have a fantastic sea-facing unit, southeast facing, the most ideal. Being an old development, the buildings are set very far apart, so we don't look into our neighbours' units.

Our estate is freehold and there is potential to upgrade and increase the open market value further if one wants to sell. It's such a convenient location, lots of buses to all over, MRT station nearby, schools, markets, supermarkets all within walking distance, etc. Add to that, our low monthly maintenance fee, as our MC is very prudent. Therefore there is very little wastage of funds, so where can one find a condo of 2100 sq ft and pay only $280 per month? Recently there has been talk of en bloc. However, we will not sell as we had looked all over East Coast for a freehold sea-facing unit for over a year before buying Ocean Park, and nowhere else can we find one of this size and so conveniently located.

Our CSC was started by a few retirees who wanted to ride on the enbloc wave. They wanted to cash out, and these people are prepared to downgrade so they are not looking at replacement units being equal, they just want the money. Some others bought their low floor, non-seafacing units more than 15 years ago, at low prices. But instead of selling their units at $1.8mil during the peak in June 2007, they decided to start an en bloc sale.

Then, with the recent wave of immigration, our estate has seen an increased number of new immigrants (permanent residents with foreign citizenships) becoming owners after renting for a short period of time and they are also very keen in capitalising on their investment, despite the fact that this is their primary residence. To them this is not their permanent home, it's just another get-rich quick channel.

Basically we feel that en bloc is a very selfish exercise, the open market allows anyone to sell their units as and when they want, so why drag others into it??? We call it the 'disposable' culture, ready to just drop and go and move on!

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