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Brand-new bungalow in Pasir Ris sold for $7 million. Only 57 years lease remaining.

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Old 28-06-2020, 02:53 PM   #1
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Brand-new bungalow in Pasir Ris sold for $7 million. Only 57 years lease remaining.

“Even though I could not view in person because it was during the circuit breaker, I immediately consulted my feng shui master,” said Thomas, who’s a strong believer in feng shui.

“He told me that, to benefit from my 42-year ‘big luck’ cycle, I needed to live in a house that faces a water body, either a sea or river, and with trees in between.”


57 years left on the lease only... worth it or not?

https://www.99.co/blog/singapore/lea...ngalows-buyer/
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Old 28-06-2020, 03:11 PM   #2
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57 years left on the lease only... worth it or not?

https://www.99.co/blog/singapore/lea...ngalows-buyer/
PAsir Ris ar Pasir Ris
why you so cruel cheat others $7M?
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Old 28-06-2020, 05:25 PM   #3
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He must be very rich And pay in full. Left 57yrs, will the bank will loan him $?
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Old 28-06-2020, 05:28 PM   #4
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He must be very rich And pay in full. Left 57yrs, will the bank will loan him $?
bank loan money based on risk assessment
Uncle Dyson comes to buy also can get loan no problem
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Old 28-06-2020, 11:10 PM   #5
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I find it ex even for 3-mil.
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Old 28-06-2020, 11:31 PM   #6
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i think it's 2 bungalows for 7mil, so about 3.5mil each.
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Old 28-06-2020, 11:54 PM   #7
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At $3.5m, the price appears reasonable. The built-up area is 6500sf. With such a large built-up, it may cost about $2m-$3m just to build the house. So, the land cost is actually very low. He is just mainly paying for the building. How many house can last 50 years anyway.
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Old 29-06-2020, 12:43 AM   #8
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I was just looking at it today as my children were at the playground across.....

I wouldn't pay so much for a leasehold landed.... Too risky.
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Old 29-06-2020, 09:04 AM   #9
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I was just looking at it today as my children were at the playground across.....

I wouldn't pay so much for a leasehold landed.... Too risky.
The buyer is not looking to make any money out of it. He just wants the perfect fengshui.
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Old 29-06-2020, 10:16 AM   #10
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57 years left on the lease only... worth it or not?

https://www.99.co/blog/singapore/lea...ngalows-buyer/
superstitious
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Old 29-06-2020, 10:35 AM   #11
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He happy cos he say fengshui suit him
Fengshui master happy cos got paid
seller happy, buyer happy, everyone happy
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Old 29-06-2020, 02:44 PM   #12
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one big, happy family.
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Old 29-06-2020, 02:52 PM   #13
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Agent happy, lawyer happy and government also happy because can collect ABSD.
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Old 29-06-2020, 02:54 PM   #14
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At $3.5m, the price appears reasonable. The built-up area is 6500sf. With such a large built-up, it may cost about $2m-$3m just to build the house. So, the land cost is actually very low. He is just mainly paying for the building. How many house can last 50 years anyway.
this post makes the most sense.....

a rebuild 3.5 detached with swimming pool, lift at 6500sqft will cost 2.2m to 2.6m depending on finishing...

he effectively paid 1m to rent the land there for 57 years.....

compared to a freehold, which u rebuilt the house every 57years... its about the same depreciation la....
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Old 01-07-2020, 10:38 AM   #15
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Wash money is it..
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