Costa Rhu 2br facing the city currently has the best view in Singapore. Affordable. Though 99yrs lease. MRT beside it.
Affordable? Care to elaborate.
Costa Rhu 2br facing the city currently has the best view in Singapore. Affordable. Though 99yrs lease. MRT beside it.
Costa Rhu 2br facing the city currently has the best view in Singapore. Affordable. Though 99yrs lease. MRT beside it.
Costa Rhu 2br facing the city currently has the best view in Singapore. Affordable. Though 99yrs lease. MRT beside it.
Costa rhu is a very nice condo if you get those facing the sea or sports hub, but it’s just alittle old 22 years old, it’s quite well maintained though.
I googled the place and it indeed looks nice, I have two questions
1) For a 22 year old building it will be considered young in Europe, but I know there is a 99 year lease "issue" in Singapore, what happens when the lease goes nearer to the 99 year, does the property value go to zero, or will be bought back cheap?
2) With the construction of this line, would you reckon that prices will go down? Given that the place will become really bustling, hence possibly affecting the green and private surrounding.
Thank you!
Answer to qn
1) it’s not so much about the lease decay, my concern is about the maintenance of the facade and the architecture, given that area is so prime and with the upcoming MRT line there’s a possibility of it being enbloc in the next cycle.
2) with the upcoming MRT line it would likely bring up prices than bring down prices but the price would stagnate at some point, now is about 13xxpsf, it could probably have alittle more room for appreciation till 1500psf thereabouts but in about 5-7 years horizon.
The founder's memorial station will open in 2027, and Tanjung Rhu station is 2023. I am hoping there is no delay, given Singapore's efficiency.
Costa rhu is a very nice condo if you get those facing the sea or sports hub, but it’s just alittle old 22 years old, it’s quite well maintained though.
Surprisingly, only the 2bedder has the best view facing the city unblock for many years to come. Probably the best view in Singapore East Coast. A lot of expat and the gym facilities is fantastic. A lot of expat community there. It’s about 1.3k psf. For that location and price, it is a steal!
https://www.propertyguru.com.sg/listing/21715925/for-sale-costa-rhu
If you are sporty, you can actually canoe or take a boat ride (if any) from your area to the city.
But the problem is, it is leasehold. Rental is good, no en bloc potential.
Surprisingly, only the 2bedder has the best view facing the city unblock for many years to come. Probably the best view in Singapore East Coast. A lot of expat and the gym facilities is fantastic. A lot of expat community there. It’s about 1.3k psf. For that location and price, it is a steal!
https://www.propertyguru.com.sg/listing/21715925/for-sale-costa-rhu
If you are sporty, you can actually canoe or take a boat ride (if any) from your area to the city.
But the problem is, it is leasehold. Rental is good, no en bloc potential.
Surprisingly, only the 2bedder has the best view facing the city unblock for many years to come. Probably the best view in Singapore East Coast. A lot of expat and the gym facilities is fantastic. A lot of expat community there. It’s about 1.3k psf. For that location and price, it is a steal!
https://www.propertyguru.com.sg/listing/21715925/for-sale-costa-rhu
If you are sporty, you can actually canoe or take a boat ride (if any) from your area to the city.
But the problem is, it is leasehold. Rental is good, no en bloc potential.
I’m literally here at Costa rhu.
The other side of costa rhu faces stadium and the riverside. Yea most of the good facing unit are the 2 bedders.
Why do u feel it has no enbloc potential?
I beg to differ given that it sits on prime site and that area is gg to undergo development to accommodate founders memorial. I jus ran there this morning and felt that the people whom had hold out for 22 years deserve the profit given that I think 22 years ago it should be pretty ulu w no sports hub.
Again, my question as a future PR, is leasehold really bad, in the sense that the government will take away the property come expiration?
The concern is more for HDB than private,
For private property, I believe if it happens to go to 99years they can actually opt to top up the lease, I am not sure what’s the oldest condo/private apartment is for now.
The concern is more for HDB than private,
For private property, I believe if it happens to go to 99years they can actually opt to top up the lease, I am not sure what’s the oldest condo/private apartment is for now.
Pls do not go and think the other 99% of owner in the same condo will agree to a lease top up.
The prices charges by government are sky high, and most likely only the developers who enbloc the project will have the ability to pay.
Why would anyone top up a few hundred k each out of their own pocket, just to stay in a old condo development?
And yes it's up to government discretion whether to approve or not, whether they need the land for other purpose or not etc.
For some leisure reading, pls click
www.99.co/blog/singapore/leasehold-property-99-years
From your description, there is a small but real risk that 99 year condo value will go down come their 70th year onwards, as the risk of going to zero at 99 year is real.
Is a right to (collectively) top up the lease, or it is based on government's approval (mercy). If the government disapprove condo owners will not have the right to top up?