Overview
- Parliament has amended the Land Titles (Strata) Act to reduce the collective‑sale voting threshold to 70% for developments aged 40–59 years and 65% for those 60 years and older.
- The package also raises the threshold to convene an extraordinary general meeting to 35%, cuts the window to collect signatures for a Collective Sale Agreement from 12 months to six months, and extends the restriction period after a failed sale to three years with higher consent rules for repeat attempts.
- Several MPs raised practical concerns about the shortened six‑month signature window, warning it may disadvantage large blocks of owners, elderly residents, and those who live overseas, and asked for more targeted homeowner assistance.
- The government justified the reforms by pointing to rising lifecycle costs for ageing buildings, citing examples such as lift modernisation from about $120,000 and full lift replacement at $200,000–$300,000 each.
- About 20,000 private non‑landed homes in roughly 250 developments are 40 years or older, and the Ministry of Law said implementation details and any additional support measures will be set out after the amendments take effect.