In the Singapore real estate market, apart from the traditional resale market, there exists a more attractive way to monetize properties, known as collective sales or en bloc. This French term meaning "together" refers to all owners of an apartment collectively agreeing to sell all units in a single transaction, typically resulting in higher returns and therefore garnering significant attention.

The process of collective sales typically takes around two years. Initially, a Collective Sale Committee needs to be formed, requiring consent from at least 25% of the owners (who collectively own at least 20% of the share value). If a condominium has previously failed in a collective sale, it needs to undergo a two-year restriction period, during which the formation of a committee requires consent from 50% of the owners.

The primary steps in the entire process include:

1. Holding an Extraordinary General Meeting to form the Collective Sale Committee. The formation of the committee requires consent from at least 25% of the owners, representing at least 20% of the share value. If there has been a failed collective sale previously, a two-year restriction period applies, during which the formation of the committee requires consent from 50% of the owners.

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2. Gathering necessary consents. As per government regulations, for properties over 20 years old, at least 80% of owners' consent is required for a collective sale, and for properties over 10 years old, at least 90% consent is necessary.

3. Second Extraordinary General Meeting. During this meeting, the committee invites property consultants, lawyers, and valuers to discuss costs and valuations related to the collective sale.

4. Third Extraordinary General Meeting. During this meeting, owners discuss and determine the reserve price for the collective sale and resolve internal disputes. Setting the reserve price is a crucial decision and can often lead to disagreements among owners.

5. Signing the Collective Sale Agreement. The committee has 12 months to gather sufficient consent forms.

6. Fourth Extraordinary General Meeting. Discussion on how to conduct the public tender.

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7. Public tender. The tender period lasts for one month, and if there are no bids during this period, the property enters into a private treaty phase, with the total tender period being 12 months.

8. Awarding the tender. If bids received exceed the reserve price set by the committee, the sale proceeds. If the highest bid is still below the reserve price, a new general meeting is convened to discuss whether to accept the lower offer.

9. Applying to the High Court for a Collective Sale Order. This typically takes 3 to 9 months.

10. Completion of the collective sale. All owners need to vacate within 6 months and receive 100% of the sale proceeds.

Although the collective sale process is cumbersome, it typically offers higher returns for owners compared to selling in the resale market. For developers, acquiring properties through collective sales provides them with freehold development sites, allowing them to develop more profitable projects. Therefore, collective sales represent a win-win situation for both homeowners and developers. Despite the series of steps involved, the eventual returns are often substantial, making it a preferred option.