The paper aims to consider how collective sales may be achieved more effectively and speedily in the Singaporean context.
Through an examination of Singaporean legislation, cases, market conditions and the residential price index, a range of factors has been identified as affecting the success rate of collective sales.
The paper shows that in the face of radical legislation that aimed to facilitate collective sales, there were various other factors that impeded the success rate of collective sales. Some of these factors were within the control of parties, whereas some were not.
The paper points to the flashpoints in the collective sale process which property consultants can be mindful of during negotiations. Suggestions are made for the property consultant to adopt mediation techniques to expedite the process. This will result in time and cost savings for the parties involved.
The paper highlights the interplay of various factors other than legislation to facilitate collective sales. The paper will be of particular value to property consultants involved in negotiating collective sales, and owners of strata titled properties who wish to engage in collective sale of their development.
