~Buyers who pay high prices for old flats face reality check

Zildjian

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we were never OWNERS of HDB flats.. pls wake up n read HDB letters properly.. they will never call u “owners”
 

lazysundae

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Last year, Ms Siah Yuet Whey bought a Housing Board flat that is older than she is.

She is 28 years old. It is 44.

This means that she will most likely outlive its lease - which runs out in 55 years. She will be 83 then.

That did not stop her and her husband, 31, from paying more than $700,000 for the three-room unit in Jalan Ma'mor, in Whampoa.

"It is a rare terraced unit in an area with a lot of character, and it does not feel like it is very old at all. We think it is a fair price," said Ms Wong. :s22::s22:

sauce:http://www.straitstimes.com/singapo...-high-prices-for-old-flats-face-reality-check
So the buyer already said fair price
Nothing to see here

Sent from Anfield YNWA using GAGT
 
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She got it for a steal. It’s better than a fair price.

Two things can happen.

First, her house gets SERed, so no loss to her.

Second, the lease on her house will run out and HDB will take it back in 55 yers time.

Between now and 55, nothing stops her from buying a condo and renting out this 3-room TERRACED UNIT, Given the size of the flat and that it is landed, I’m sure it can easily be rented for $3000, if not more. AMDK in particular love to rent these landed properties

Without taking into account inflation, she can collect $3000/mth for 50 years. Good deal? Hell yeah.

actually why so hype about SERed....in the end they also need to pay high for another flat if they choose New BTO flat at central area


to me HDB price , etc is people ownself push the price....buy , rent , sell ...

whereas Those seriously is Buy to stay get affected .
 

lifeafter41

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Was wondering how they get the loan for a 31 and 28 years old and the leases is left only 55 years.......
 

AcIenTz

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Lol I am surprised ppl only finally realized what 99 year lease meant. How can a property with depreciating years left on its lease keep appreciating in value? It will come to a point the property price start to go down de mah simple math. Pls rem ur hdb flat u bought is leased not freehold. End of lease means the flat need to return to hdb. U need house pls lease again.
 

PlayDough

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Jalan Ma'mor is a damn nice place. I will buy for 700K without thinking if I can qualify to buy HDB. No joke. That is a landed HDB.
 

NoSouL

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Last year, Ms Siah Yuet Whey bought a Housing Board flat that is older than she is.

She is 28 years old. It is 44.

This means that she will most likely outlive its lease - which runs out in 55 years. She will be 83 then.

That did not stop her and her husband, 31, from paying more than $700,000 for the three-room unit in Jalan Ma'mor, in Whampoa.

"It is a rare terraced unit in an area with a lot of character, and it does not feel like it is very old at all. We think it is a fair price," said Ms Wong. :s22::s22:

sauce:http://www.straitstimes.com/singapo...-high-prices-for-old-flats-face-reality-check

$700k already ok liao.

that area all the owners still want to ask for $800k and above. some of them the valuation is as low as $700k - $720k, depending on land size. I know 1 guy who stays at blk 59. valuation only $710k but instead of coming down the price, they increase another 10+k to $798k.
 
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no need wait until she is 83 yrs old.

re-interview her in 10 yrs time and both will be crying:s13::s13::s13:

:s11:

why they should cry ? " unless they though will get en block ? I already mention en block is actually not a good thing either "

perhaps they buy is to Stay till they RIP ...since these type of public housing is rare now .

so is ok


700k for this

compare to new BTO flat mature area ..is different thing as I have mention is a public terrance house.

similar for Jumbo flat .
 

cannotliao

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Edmw really many salty amd jelly
Go look at how much people willing to pay to own a car in this island.
Many people in this island got the money can afford and willing to pay.
Those bo lui no money keep ggww non base on own judgement.
 

roz_sid

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:s11:

why they should cry ? " unless they though will get en block ? I already mention en block is actually not a good thing either "

perhaps they buy is to Stay till they RIP ...since these type of public housing is rare now .

so is ok


700k for this

compare to new BTO flat mature area ..is different thing as I have mention is a public terrance house.

similar for Jumbo flat .
forever bro the meimei only 28yo, lease bal 55. 83yo, she go wher stay? :(
 
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forever bro the meimei only 28yo, lease bal 55. 83yo, she go wher stay? :(

:s22: funny you all use your brain ...will the PAP presently ruling party will let the people no where to live when their HDB lease no more?

You don't need to worry no place to sleep..Gov will ensure it ..or else PAP can forget to be ruling party

even the Opposition party take over as ruling party they also will ensure every Singaporean at least got a place to sleep

or help at least.

this is the BASIC job and needs for the Gov to do.
 
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