Treasure at Tampines

[theblueark]

Total layman here


Let's say right now I'm looking at 99 yr condo vs 99 yr HDB, I can expect both to hit 0 value when 99 years are up right?

But realistically what are the odds of either hitting 99 years?

For condos under private developers, the land they pay for end le then what? Buy again and build new condo? What happens to the ones currently staying there?

For HDB right now, I think it's obvious, I feel govt will not let it hit 0 but will just buyout the rest at a damn low nominal price when left maybe 10-15 years, ask the residents to FO and get other flats elsewhere. So far in the future, different plots of lands will have different strategic uses le mah

SLA dictates how the land private property is built on can be used. After lease ends, the land goes back to SLA.

HDB dictates how the land HDB flats are built on can be used. After lease ends, the land goes back to HDB.

CURRENTLY, SLA has been allowing third party developers to come in and buy up old land (once the collective owners of that land come to an agreement to sell, i.e en-bloc sale), and SLA grants them a new 99 year lease. But SLA is not obligated to do this, they can just as well say no and let the lease run out, leaving the land free for other purposes.

CURRENTLY, HDB has said they might let some flats run down to zero in the future. Previously, HDB had selectively chosen some blocks to take back and give the owners a new home (SERS).

Whether one owns private property or HDB, the land owners in those cases have zero obligation to give any compensation when the lease runs out. It's just that private land can be sold to third party developers to generate govt revenue (that can be spent helping Singaporeans in other ways) while HDB land is more of a cost to the govt (that can help Singaporeans by providing affordable housing). In finding the right policies, the govt needs to find the balance between the two.

 

[annetyu]

SLA dictates how the land private property is built on can be used. After lease ends, the land goes back to SLA.

HDB dictates how the land HDB flats are built on can be used. After lease ends, the land goes back to HDB.

CURRENTLY, SLA has been allowing third party developers to come in and buy up old land (once the collective owners of that land come to an agreement to sell, i.e en-bloc sale), and SLA grants them a new 99 year lease. But SLA is not obligated to do this, they can just as well say no and let the lease run out, leaving the land free for other purposes.

CURRENTLY, HDB has said they might let some flats run down to zero in the future. Previously, HDB had selectively chosen some blocks to take back and give the owners a new home (SERS).

Whether one owns private property or HDB, the land owners in those cases have zero obligation to give any compensation when the lease runs out. It's just that private land can be sold to third party developers to generate govt revenue (that can be spent helping Singaporeans in other ways) while HDB land is more of a cost to the govt (that can help Singaporeans by providing affordable housing). In finding the right policies, the govt needs to find the balance between the two.

There are many instances that HDB land got converted into private condo. For example, the site of The Clement Canopy was formally HDB. The site next to it that is launched for tender was also HDB. Where there is money to be made, the government can do anything.

 

[Zze121]

Tengah new town has 6 plots of commercial & residential land and 3 MRT stations.

 

[yongsaver]

ura data show 270 sold. i roughly calculate close to 30% sold are the smallest studio.

Still got 1900+ units to go.

it seems big sites going enbloc will be challenging in today's market.

 

[ThinkCarefully]

Thankfully you are old enough to understand the meaning of ‘Malaysia boleh’. Why commit to something that is not entirely within Singapore decision?

Very boleh indeed,
https://www.straitstimes.com/politics/parliament-no-progress-in-singapore-malaysia-rail-projects

And of course If you know about the clob shares saga.

 

[killershot]

Finally took some time off to visit the showroom yesterday after lunch. Had the whole showroom to myself haha!

Treasure at Tampines really looks like HDB. No patio, no double storey penthouse. And shortage of around 500 carpark lots! Can’t imagine having to ballot for a parking lot. And the new road to be constructed will be opened to public, can foresee major jams during peak hours. Will pass on this. I don’t know how they can sell all the units. Imagine living in a development with no neighbours. One good thing is that you can fully utilise the facilities. But yes, maintainence fees quite cheap.

I think I will go for resale at Trilliant or Citylife. Location is so much better.

 

[1993newbie]

Sad sad. Thought RTS to JB will materialise soon. Gotta wait longer bah. Thought prop value will go up for Woodlands. Maybe will go up once Thomson line open end year. Next year open all the way to Caldecott.

For now I will just take bus to Woodlands train station.

Very boleh indeed,
https://www.straitstimes.com/politics/parliament-no-progress-in-singapore-malaysia-rail-projects

And of course If you know about the clob shares saga.

 

[SBC]

Another 200 units sold?

 

[birmingham123]

Finally took some time off to visit the showroom yesterday after lunch. Had the whole showroom to myself haha!

Treasure at Tampines really looks like HDB. No patio, no double storey penthouse. And shortage of around 500 carpark lots! Can’t imagine having to ballot for a parking lot. And the new road to be constructed will be opened to public, can foresee major jams during peak hours. Will pass on this. I don’t know how they can sell all the units. Imagine living in a development with no neighbours. One good thing is that you can fully utilise the facilities. But yes, maintainence fees quite cheap.

I think I will go for resale at Trilliant or Citylife. Location is so much better.

Trillant is also by sim lian.

 

[TeamUSA]

Trillant is also by sim lian.

Exactly, the facilities and landscaping for Trilliant are not impressive at all and the unit layout of Trilliant (comparing 3 bedrooms and above) is even worse and less practical than Treasures. I have seen a couple of units at Trilliant owned by friends.

 

[annetyu]

Another 200 units sold?

Really? Have to wait for URA to update its site. Currently is 270 units.

Meanwhile... The miracle years are over. Get used to it. https://www.straitstimes.com/opinion/the-miracle-years-are-over-get-used-to-it

 

[ThinkCarefully]

SUO is a sell out project, looks like the owners who are looking at high profit resale is gonna be disappointed after seeing the sims drive land bid price.

Let see whether wing Tai can save them or not. Hehe, you know what I mean.

Looking at this:
https://sbr.com.sg/residential-property/in-focus/developers-lose-pricing-power-after-en-bloc-fever

It looks like SUO owners are in for a nightmare. Just nearby, you get newer, more reputable developer (better as less crowded?) and possibly cheaper.

Also, it showed the worst performing new launch in the market in terms of percentage of units sold as compared to total in development.

 

[fotoudavid]

Sims urban oasis launch price I think is $1500 - $1600....

 

[ThinkCarefully]

Sims urban oasis launch price I think is $1500 - $1600....

Imagine (as estimated in article) cdl new launch at 1,350 psf average (brand new and less crowded), will nearby (about 5 year older) SUO be valued at less than 1,300 psf or 1800 psf (since we think SUO launch is already 1500 to 1600 psf and owners don’t want to lose)?

Interesting...

 

[honeydewmelater]

Oh honey! It is a treasure ya???? I love it!

 

[Clazav]

Hmm not so high, I remember about 13xx to 14xx

Sims urban oasis launch price I think is $1500 - $1600....

 

[Clazav]

True.. But this project is based on new regulation, that is average minimum size is 85sqm. So likely it will be larger quantum and comparable launch psf. Ppl who can't afford large quantum will still look for SUO. Also, if market sentiment is good, the developer beside suo plot might jack up the price.

Looking at this:
https://sbr.com.sg/residential-property/in-focus/developers-lose-pricing-power-after-en-bloc-fever

It looks like SUO owners are in for a nightmare. Just nearby, you get newer, more reputable developer (better as less crowded?) and possibly cheaper.

Also, it showed the worst performing new launch in the market in terms of percentage of units sold as compared to total in development.

 

[fotoudavid]

Hmm not so high, I remember about 13xx to 14xx

If $1300 - $1400 is OK bah

 

[ThinkCarefully]

If $1300 - $1400 is OK bah

If one pays 1300 to 1400 psf to be within walking distance of Aljunied mrt, why do people want to pay 1700 psf to be near Eunos mrt? Aljunied is nearer to CBD as compared to Eunos, right?

Makes me wonder....

 

[kiatme]

If one pays 1300 to 1400 psf to be within walking distance of Aljunied mrt, why do people want to pay 1700 psf to be near Eunos mrt? Aljunied is nearer to CBD as compared to Eunos, right?

Makes me wonder....

because 1.3-1.4 is 2 years ago.
and resale SUO units are going at 1.6k+ already.