Complete Property Market Updates of Singapore

August 7, 2008

En bloc blues? There’s hope, says support group

Filed under: Collective Sale,General — Propertymarketupdates @ 3:34 am

WE REFER to the report, ‘En bloc sales bring out the worst in Singaporeans’ (June 1) by Ms Jessica Cheam.

We are a group of concerned friends who love Singapore and the estates in which we live. While we welcome progress, we also cherish the old and familiar.

Our cityscape has improved enormously in the past decades, thanks to the vision of Singaporeans and its leaders.

But for our communities to forge together in good-neighbourliness, roots to grow deeper and future generations to see Singapore as home, we need to preserve our homes. We need to retain the kampung spirit that binds us.

The recent spate of attempts in en bloc sales have impacted us in a way that is counter-productive to our nesting instincts and identity as a gracious society.

We need to stop perpetuating these negative experiences. We want to be free from the constant worry of losing our homes to those who see them as mere financial tools for increasing wealth.

In this spirit of proud home ownership and community living, we have formed an online community called Hope for Stayers (www.hope4stayers.com) where we share our experiences and educate others on the whole process of an en bloc sale.

As ’stayers’, we hope that we can contribute to the ethos and values needed to enable Singapore to evolve into a truly first-class progressive nation, where the term ‘prosperity’ reflects more than dollars and cents.

Lastly, we agree with Ms Cheam’s view that it would be prudent to consider a requirement for an 80 or 90 per cent quorum for an extraordinary general meeting to decide whether to push for en bloc sale. This is consistent with the current 80 or 90 per cent requirement for an en bloc sale to succeed.

This would establish whether an estate has such support from the very outset. The current system of 30 per cent quorum encourages a possible abuse of MCST funds in repeated and wasteful attempts at the en bloc ‘lottery’ and results in the depletion of funds meant primarily to maintain the estate.

We also hope that the entire en bloc sale process is tightened in such a way that it reflects and acknowledges the need for fair play and the deep-rooted sentiment that we have for our homes.

Dai Qiujin (This letter carries 12 other names)

Source : Straits Times – 12 Jun 2008

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