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PR soon, buying condo, advice needed

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Old 16-02-2020, 09:45 AM   #46
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Answer to qn
1) itís 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 thereís 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.
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Old 16-02-2020, 09:47 AM   #47
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Correct. Yup, hopefully there won’t be delay in the opening of these stations. Tj Rhu enclave is nice to live in.

I pass by the area almost daily. There’s 2 buses servicing the enclave. Bus 11 that takes you to Stadium MRT or Bus 158 to Mountbatten Station.

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.
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Last edited by 1993newbie; 16-02-2020 at 09:54 AM..
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Old 16-02-2020, 10:05 AM   #48
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Costa rhu is a very nice condo if you get those facing the sea or sports hub, but itís just alittle old 22 years old, itís 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. Itís 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.
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Last edited by bolster; 16-02-2020 at 10:08 AM..
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Old 16-02-2020, 10:11 AM   #49
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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. Itís 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.
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.
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Old 16-02-2020, 10:15 AM   #50
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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.



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/list...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.
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Last edited by 1993newbie; 16-02-2020 at 10:17 AM..
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Old 16-02-2020, 10:21 AM   #51
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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. Itís about 1.3k psf. For that location and price, it is a steal!

https://www.propertyguru.com.sg/list...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.
Again, my question as a future PR, is leasehold really bad, in the sense that the government will take away the property come expiration?
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Old 16-02-2020, 10:21 AM   #52
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Iím 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.

Looks nice!
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Old 16-02-2020, 10:25 AM   #53
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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.
Of course the committee thought of that, but As of now, the plot ratio max out. The rumour future plan is either sell to developer for hotel or resort. But the $ will not be good.

Rental is good but because of the age, capital appreciation for Long term is limited.
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Old 16-02-2020, 10:26 AM   #54
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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 whatís the oldest condo/private apartment is for now.
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Old 16-02-2020, 01:52 PM   #55
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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.
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?
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Old 16-02-2020, 03:16 PM   #56
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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

http://www.99.co/blog/singapore/leas...perty-99-years
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Last edited by vinz; 16-02-2020 at 03:23 PM..
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Old 16-02-2020, 06:11 PM   #57
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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 whatís the oldest condo/private apartment is for now.
I believe lar.......if 99YL condo don't get to enbloc by 66th yr mark hor then the building gets older older lease run out no one wants to topup gar lar
it'll just return to gov for redevelopment lor
really not worth topping up to live in an old flat where no developer keen to enbloc for the past 99 yrs already,who will enbloc it in another 99 yrs time?
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Old 17-02-2020, 08:39 AM   #58
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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

http://www.99.co/blog/singapore/leas...perty-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.
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Old 17-02-2020, 08:56 AM   #59
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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.
there's an equal chance that a FH condo would NOT get enbloc for >66/99/111 yrs also.......what will happen to the maintainence fee by then?

if you buy a FH condo for $2M,if developers offer a low price to enbloc it for $2.5M 50yrs later will you accept? is it still a 25% profit on paper?
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Old 17-02-2020, 09:05 AM   #60
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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?
Well, certain part of old rifle range road and railway mail, I think both no developer want to TOP up the lease.

Can any expert why? Not worth to TOP up as the lease is less than 50yrs?
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