Ageing properties may get better shot at en bloc sales with proposed lowering of consent thresholds
Consent thresholds for newer developments will remain unchanged.
A proposed amendment to Singapore's Land Titles (Strata) Act aims to improve en bloc sales for aging developments, lowering the consent threshold from 80% to 70% for properties between 40 and 59 years old, and 65% for those 60 years and older. Newer developments, aged between 10 and 39 years, will maintain an 80% threshold, while properties under 10 years old will require 90% consent.
The amendments also seek to protect non-consenting owners and make collective sales easier for non-strata-titled private residential developments. These changes come nearly three decades after the current consent thresholds were introduced in 1999, as older developments require significant investment for maintenance and repairs.
Examples of developments that could benefit from these changes include Neptune Court, One Tree Hill Mansions, and Paterson Court.
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