what will happen to old hdb flat?

[jmksqjt]

if a hdb flat now left with 68yrs of lease,
so does that mean as it ages, it will worth less than those younger flat around it?
should the owner sell it now or wait a few yrs?
Or hold on to it till it end of lease????

what will happen when it end its lease?
the gov can take back the flat without paying you? or you can get some compensation?

 

[Gixxerfied]

Ermmmm, the thing is no flats have yet to end their lease so nobody can give u a definite ans as by then, rules/regulation might be different..

Anyway, i'm sure HDB will SERS once it hits about 40-50 years..They so call one to one exchange ur flat(3rm with 3rm but internal size drops)..With the current layout of blks, they can have more units per plot ratio..Knock down the old and see what is the commercial value, if not can HDB again..Of cos structural integrity is one thing they will monitor..

 

[jmksqjt]

Ermmmm, the thing is no flats have yet to end their lease so nobody can give u a definite ans as by then, rules/regulation might be different..

Anyway, i'm sure HDB will SERS once it hits about 40-50 years..They so call one to one exchange ur flat(3rm with 3rm but internal size drops)..With the current layout of blks, they can have more units per plot ratio..Knock down the old and see what is the commercial value, if not can HDB again..Of cos structural integrity is one thing they will monitor..

my area ,most of the flats left with abt 68 yrs...
seriously OLD flat, after so much repair & upgrade, it still looks old

but if can get new flat, sounds not bad
now most flats are much smaller than my old flat

 

[tk]

after 99 years the flat will return to HDB at no cost lor

 

[Shion]

after 99 years the flat will return to HDB at no cost lor

So far I see around 50-60 years, HDB takes back the flat and gives you a new replacement

 

[djchris]

I stay in Toa Payoh and I asked my MP, Dr Ng Eng Hen about this. The bugger is not interested in this problem at all. I suspect he thinks he will retire before this happens so it's not his problem. Damn disappointed!

 

[tk]

So far I see around 50-60 years, HDB takes back the flat and gives you a new replacement

we all hope for SERS lor, but both govt n HDB does not guarantee it..

 

[Ronaldo88]

I stay in Toa Payoh and I asked my MP, Dr Ng Eng Hen about this. The bugger is not interested in this problem at all. I suspect he thinks he will retire before this happens so it's not his problem. Damn disappointed!

tpy alot of old blocks..my folks one oredi 46yo..cracks everywhere..minor lo

 

[henrylbh]

if a hdb flat now left with 68yrs of lease,
so does that mean as it ages, it will worth less than those younger flat around it?
should the owner sell it now or wait a few yrs?
Or hold on to it till it end of lease????

what will happen when it end its lease?
the gov can take back the flat without paying you? or you can get some compensation?

The value of old flats should diminish as they age. But there are flats as early as from 1969 still going at very high prices - some 50x its original price.

 

[jmksqjt]

we all hope for SERS lor, but both govt n HDB does not guarantee it..

just recall abt lift upgrade programme of my estate,
i think gov will not want to tear down the flats so fast

haix, i love my house, it is big and really spacious,
but i can't stand the exterior of the flats,
all those hairline cracks, unsightly void deck, no beautiful common area like those new hdb flats

 

[Some-one]

The value of old flats should diminish as they age. But there are flats as early as from 1969 still going at very high prices - some 50x its original price.

The problem is more of who would buy it since after a certain period, you cannot use CPF to pay. Considering that most Singaporeans use CPF to pay their flat, they would probably shun it. Other problem is with the cracks and electricity power.

 

[popdod]

The value of old flats should diminish as they age. But there are flats as early as from 1969 still going at very high prices - some 50x its original price.

Rare HDB terrace house sold for $1.02m

A rare HDB corner terrace house in Whampoa commanded $1.02 million in April, exceeding the previous record-setter,
a Bishan Street 13 maisonette, which was sold for $1.01 million in January.

It is the fourth Housing Board resale unit to be sold for $1 million or more, the Singapore Real Estate Exchange (SRX) told
But property analysts emphasised that such record-breakers are rare exceptions to the norm.

The latest, for example, is one of Singapore's 285 "landed" public homes, located in Whampoa and Queenstown.
They were built in the 1960s by HDB's predecessor, the Singapore Improvement Trust.
The million-dollar home, a 266sqm three-room house with a garden, has 59 years left on its 99-year lease.

It was sold to a neighbour who lived in a smaller 92 sq m terrace house farther down the road,
revealed PropNex senior vice-president Lim Yong Hock.

"The buyer has been living there for a long time and they wanted to stay on in this kind of property,
so they switched over and moved nearby," he said, declining to reveal more except to say that they are Singaporeans.

The price tag, which includes $140,000 cash over valuation (COV), works out to an approximate rate of $360 per sq ft (psf).

- See more at: http://business.asiaone.com/news/property/rare-hdb-terrace-house-sold-102m


~~~~~~~~~~~~

 

[popdod]

we all hope for SERS lor, but both govt n HDB does not guarantee it..

Too many old flats around.

Redhill, henderson, Bukit Merah, Telok blangah, Queensway, Tiong Bahru...all very old.

Must see the early Singapore History of housing estates town.
and
this will give you an insight how many thousands of HDB flats waiting for SERs.

It is gonna be a long long long wait.

 

[tk]

Quote from:

Value of HDB flats at end of 99-year lease | geraldgiam.sg

Mr Gerald Giam Yean Song asked the Minister for National Development (a) how many HDB blocks are more than 40 years into their 99-year lease; (b) what will be the value of an HDB flat once it reaches the end of its 99-year lease; (c) what is the average number of flats undergoing redevelopment under the Selective En Bloc Redevelopment Scheme (SERS) each year for the past 10 years; and (d) whether the pace of SERS is fast enough to redevelop all HDB blocks before they reach the end of their lease.

Mr Khaw Boon Wan (The Minister for National Development): The Selective En bloc Redevelopment Scheme (SERS) is part of the Government’s estate renewal strategy for older estates. It allows intensification of land use and revitalises such estates through new developments. At the same time, it offers an opportunity for flat owners to buy a new replacement flat with a fresh 99 year lease.

In the last 10 years, SERS has benefitted the owners of about 18,000 flats. As the name suggests, the identification of suitable precincts for SERS is selective. The selection of sites and pace of SERS will depend on factors such as their redevelopment potential, and the availability of replacement sites for rehousing and other resources.

Currently, there are about 300 HDB blocks with 31,000 flats which are more than 40 years into their 99-year flat leases.

Like all leasehold properties, HDB flats will revert to HDB, the landowner, upon expiry of their leases. HDB will in turn surrender the land to the State.

 

[Shion]

The value of old flats should diminish as they age. But there are flats as early as from 1969 still going at very high prices - some 50x its original price.

Those built by SIT in the past will be expensive, I believe

 

[henrylbh]

The problem is more of who would buy it since after a certain period, you cannot use CPF to pay. Considering that most Singaporeans use CPF to pay their flat, they would probably shun it. Other problem is with the cracks and electricity power.

There are always buyers. Otherwise, the asking price will not be so high even when the property is so very old.

Refer the above post with pic. That is one is very old and is 50x its original cost.

 

[SpeedWeed]

if a hdb flat now left with 68yrs of lease,
so does that mean as it ages, it will worth less than those younger flat around it?
should the owner sell it now or wait a few yrs?
Or hold on to it till it end of lease????

what will happen when it end its lease?
the gov can take back the flat without paying you? or you can get some compensation?

everything is about location, size, layout, facing

if you are talking about same location, same size, newer flats of cos the price is higher.

Tanglin Halt 2 new blocks, 3 room flat i think has units that passed 500k mark already.

at the end of the lease, your flat value is ZERO.

They have mentioned that they will not SERS every block in Singapore.

If u pay attention to the sites that go thru SERs.

Near Mrt, Big Open space carparks with only a few blocks or low rise blocks ( potential to rebuild into more and higher blocks )

Clementi, woodlands, tanglin halt for example

 

[luckygal]

There is this very unique block in Tpy. 157. Super Long but not high. Surrounding it many 40 storeys block. I wonder why that particular block did not get Sers.

 

[hwaa]

my area ,most of the flats left with abt 68 yrs...
seriously OLD flat, after so much repair & upgrade, it still looks old

but if can get new flat, sounds not bad
now most flats are much smaller than my old flat

my parents side also ard 33yrs old still ok leh.. internal abit old lah but externally and surrounding still okay.

 

[hwaa]

The problem is more of who would buy it since after a certain period, you cannot use CPF to pay. Considering that most Singaporeans use CPF to pay their flat, they would probably shun it. Other problem is with the cracks and electricity power.

dun be surprised. recently got one angmoh with his local wife bought my parents neighbour's flat at not a bad price!

almost got SERS but ended up upgrading only.

sure got buyers one somehow.