sundaymorningstaple wrote:I believe is doable on application but isn't guaranteed. But this, only with private housing. HBD, Not yet. But they are going to half to do something in the next 10~15 years for sure. I'm sure they are aware of the problem, but I doubt that they have a comprehensive solution short of forcing people out and whatever the gahment feels is a fair price and allowing them to repurchase and a subsidized rate in a new flat (of the government's choosing - are far a locale is concerned). Of course the new flats might be the same size (number of rooms) but you can bet they will be fully 25% smaller or more in liveable area.
Toa Payoh. The first really large 'new town' estate built after the smaller experimental inner fill ins.JR8 wrote:PNGMK you mentioned a 'TP' yesterday, but where is it, Tanjong Pagar, Toa Payoh, Tampines, I'm a bit confused?
When people grow up, and see their expected future inheritance expiring near valueless, I expect action will be taken![]()
[Example: When born your parents have a 75 year lease on a flat. By your 50th birthday, they still live there, but the unit is unmortgageable, and probably unsaleable. Your potential inheritance is now worth no more than the remaining open-market rental value of the unit, and even that would probably have to be heavily discounted in order to find a buyer (i.e. the market has narrowed to purely, and acutely commercially aware, landlords).]
p.s. @PH. There was say originally a 100 year lease, and it's (leasehold) an exponentially wasting-asset. You are a leaseholder, with no rights upon the land on which the building stands, and so cannot en-bloc.
as a leaseholder, you are entitled to sell your building en-bloc... privatized HUDC (?) owners have done so successfully, as have other condos on 99-year lease - some at good prices (whatever years remaining on their lease). the developer almost always tops up the lease to 99/103 years.JR8 wrote:...p.s. @PH. There was say originally a 100 year lease, and it's (leasehold) an exponentially wasting-asset. You are a leaseholder, with no rights upon the land on which the building stands, and so cannot en-bloc.
In the case of my ex wife's place in TP it's actually negative COV. The potential buyers are asking my ex "can you pay us $10k to buy" as she has an older flat with a tight racial quota! They're basically asking her to refund 10k cash from their loaned monies back to her for them having bought it. Those of us who buy and sell motorbikes will recognize this tactic.Wd40 wrote:My view is, the HDB market has had a serious adjustment in COV levels in the last one year. Most sellers still cant believe this and are holding out until the get the COV of 30-40K but that is not happening. So its taking 6-8 months to sell a flat and the COVs have come down to 10-15k for small flats in areas like Tampines and large flats in places like Punngol and Sengkand are trading at 0 COV.
May be thats true. I remember, when the place we rented, the owner was trying to sell initially at 40K COV and the initial valuation was 365K for 3A flat. It was unsold for 3 months and then they had to do revaluation and the new valuation was 368KPNGMK wrote:In the case of my ex wife's place in TP it's actually negative COV. The potential buyers are asking my ex "can you pay us $10k to buy" as she has an older flat with a tight racial quota! They're basically asking her to refund 10k cash from their loaned monies back to her for them having bought it. Those of us who buy and sell motorbikes will recognize this tactic.Wd40 wrote:My view is, the HDB market has had a serious adjustment in COV levels in the last one year. Most sellers still cant believe this and are holding out until the get the COV of 30-40K but that is not happening. So its taking 6-8 months to sell a flat and the COVs have come down to 10-15k for small flats in areas like Tampines and large flats in places like Punngol and Sengkand are trading at 0 COV.
She may have to actually do it to move it as the flat is realistically over valued.
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