Singapore’s property market has always attracted keen home buyers and seasoned investors, and Thomson View En Bloc Condo is no exception. As one of the most anticipated collective sales in the Thomson area, this development offers a rare opportunity to secure a prime residence in District 20.
However, purchasing a unit in an en bloc development involves more steps than buying a regular resale condo. From understanding the en bloc process to securing financing and navigating legal considerations, there are crucial details you need to know.
In this comprehensive guide, you’ll learn how to buy a unit at Thomson View En Bloc Condo confidently and smoothly.
What Is Thomson View En Bloc Condo?
Before we dive into the steps, let’s first understand what makes this project special.
Thomson View Condo was an established 99-year leasehold development along Upper Thomson Road, near Marymount MRT and Bishan amenities. Over the years, it became a prime candidate for collective sale due to its:
- Expansive land size of over 540,000 sq ft
- Strategic city-fringe location in District 20
- Proximity to top schools such as Raffles Institution and Catholic High School
- Strong connectivity via the Thomson-East Coast Line and major expressways
After multiple attempts, the collective sale succeeded, paving the way for redevelopment. This means buyers can now purchase brand-new units in a modern, high-rise condo offering lifestyle facilities and long-term capital appreciation.
Why Consider Buying at Thomson View En Bloc Condo?
Investing in an en bloc redevelopment can be appealing for several reasons:
- Potential for Early-Bird Pricing
Developers often release units at attractive preview prices to generate interest. Early buyers may secure better deals compared to later phases. - Modern Layouts and Facilities
Redeveloped en bloc sites feature contemporary architecture, smart home technology, and full condo facilities, which appeal to tenants and owner-occupiers alike. - Desirable Location
Thomson View’s site remains highly coveted due to accessibility, reputable schools, and abundant amenities. - Capital Appreciation Potential
New projects in mature estates often see strong demand and steady price growth over time.
However, buying into such a project requires thoughtful preparation. Let’s look at how to approach this step by step.
How to Buy a Unit at Thomson View En Bloc Condo?
Step 1: Understand the En Bloc Redevelopment Timeline
When you buy into an en bloc redevelopment, you’re purchasing a new launch project built on the old site. Here’s a simplified timeline:
- Collective Sale Completion
- The previous owners receive their payout.
- Developer finalizes plans and gets planning approval.
- Launch of New Project
- The project is unveiled to the public.
- Showflat previews and marketing begin.
- Sales Booking Period
- Buyers book units during VIP preview or public launch.
- Construction
- Building works start (typically 3–4 years to completion).
- TOP (Temporary Occupation Permit) Issued
- Buyers receive keys and can move in or rent out.
When you purchase, you’re committing to a project under construction. This is known as buying under the progressive payment scheme.
Step 2: Evaluate Your Budget and Financing Options
Before you head to the showflat, it’s crucial to determine your budget. Here’s how to prepare:
Get an In-Principle Approval (IPA)
Approach at least one bank to secure an IPA, which states how much they are willing to lend you. This helps you:
- Confirm your affordability
- Avoid disappointment later
- Understand your monthly repayments
Factor in Additional Costs
Buying a unit involves more than just the purchase price. Remember to budget for:
- Option fee: 5% booking fee upon signing the Option to Purchase (OTP)
- Buyer’s Stamp Duty (BSD): Based on purchase price
- Additional Buyer’s Stamp Duty (ABSD): If you already own property
- Legal fees and mortgage fees
Consider engaging a mortgage broker to help you compare loan packages from different banks.
Step 3: Engage a Reputable Real Estate Agent
Buying a unit at Thomson View En Bloc Condo is a major commitment. A trusted property agent can help you:
- Shortlist suitable units based on your goals
- Navigate paperwork and timelines
- Negotiate for better terms
- Explain the nuances of buying an uncompleted project
Make sure your agent has experience with new launches and en bloc redevelopments.
Step 4: Visit the Showflat and Study Floor Plans
The showflat experience is your chance to see the project up close. Here’s what to do during your visit:
- Inspect the Mock-Up Units
- Assess layout efficiency
- Visualize furnishing and storage options
- Look for features that matter to you (balcony size, kitchen layout, view orientation)
- Compare Floor Plans
- Thomson View En Bloc Condo will offer a range of layouts, from 1- to 4-bedroom units.
- Consider your lifestyle and future needs when selecting.
- Clarify Specifications
- Ask about the brands of appliances, materials, and fittings.
- Understand what’s included in the unit versus what is for display.
Don’t rush—visit multiple times if needed before deciding.
Step 5: Reserve and Secure Your Preferred Unit
Once you’ve identified the right unit, you’ll proceed to:
- Submit the Expression of Interest (EOI)
- Indicate the unit(s) you’d like to reserve.
- Provide a cheque for the booking fee.
- Receive the Price List and Confirmation
- Developers will confirm your unit selection and pricing.
- Sign the Option to Purchase (OTP)
- Within a few days, you’ll sign the OTP.
- Pay the 5% booking fee (less any reservation deposit already given).
Step 6: Exercise the Option and Arrange Financing
After signing the OTP, you typically have 3 weeks to exercise it:
- Engage a conveyancing lawyer to review the Sales & Purchase Agreement (S&P).
- Exercise the OTP by signing the S&P and paying the remaining down payment (typically 15%).
At this stage:
- Finalize your mortgage application.
- Prepare funds for stamp duties.
Once exercised, your purchase is legally binding.
Step 7: Follow the Progressive Payment Schedule
For uncompleted projects like Thomson View En Bloc Condo, payments are made progressively as the building is constructed. Typical milestones include:
- 10% foundation completed
- 10% concrete framework completed
- 5% walls completed
- 5% roofing completed
- 25% completion of M&E services, fittings, etc.
- 15% upon issuance of TOP
- 15% upon legal completion
Your lawyer and banker will guide you through each disbursement.
Step 8: Collect Keys Upon TOP and Handover
When the condo obtains its TOP, you’ll be notified to:
- Inspect the unit (defects inspection)
- Collect keys
- Start renovations if needed
If you plan to rent out the unit, this is when you can start marketing to tenants.
Tips for Buying at Thomson View En Bloc Condo
To ensure a smooth purchase, keep these practical tips in mind:
Compare Different Stacks and Facing
- Some units may enjoy better views or privacy.
Plan for ABSD if You Own Another Property
- Singapore’s ABSD can be significant. Consider selling your existing property or applying for remission (if upgrading).
Understand the Lease
- Check the remaining lease tenure after redevelopment if relevant, though new projects usually get a fresh 99-year lease.
Clarify Maintenance Fees
- Larger units may incur higher maintenance.
Read the S&P Agreement Carefully
- Look for clauses on project delivery timelines, defects liability, and penalties for late completion.
Final Thoughts
Buying a unit at Thomson View En Bloc Condo is an exciting opportunity to own a new home in a prestigious location. While the process can feel complex, proper preparation and guidance will make it a rewarding experience.
Whether you’re an investor seeking strong rental yields or a family upgrading to a modern condo, this redevelopment offers long-term value in a prime district.
If you’re considering making a move, start by engaging a reputable agent and arranging your financing early. The sooner you prepare, the sooner you can secure your ideal unit and watch your investment grow.
