Is freehold really better than leasehold?

[fulaien]

Some people buy freehold because it is supposed to be "forever" ie. Can pass down generations vs 99 years leasehold which lasts 1-2 generations.

But recently what ho ching has commented this on her facebook:

But that doesn’t mean we don’t own our leasehold property, anymore than we don’t own a freehold property.

Even for freehold property, the future is really too far off, and future govts may nationalise our property, or there could be a war and all properties taken over by a hostile country.

So even for freehold, the right is not absolutely perpetual, much as we hope so.

This makes me realised, actually nothing is permanent and forever.

She is right. Even if you buy freehold, and the govt needs the land for whatever purpose, it will be acquired whether you like it or not.

For leasehold yes it will be gone in 99 years, the value will drop, etc, but if Im staying there and it lasts my lifetime, it will be enough.
My kids can get their own house.

Even the value part is not completely true. I can find some freehold condo cheaper than leasehold condo in similar area.

So is this freehold idea just to trick people to spend more money?

Singapore is not even 99 years and nobody knows what will happen in future...

 

[orhneeorh]

leasehold condo got enbloc to top up lease..

 

[EDMW-Hates-Me]

Freehold got good chance. Even if get acquired, the compensation will likely be quite good.

Leasehold little chance. Even if lease get extended, likely need to top up money.

 

[wwenze]

Then how come the country of Singapore itself is freehold

 

[fulaien]

Freehold got chance. Leasehold no chance.

Freehold got chance to be acquired prematurely.

Leasehold got chance to be extended.

Nobody actually knows the truth because sg is only 57yo. Everything is on paper, if you trust our govt lor.

 

[elimmel]

there is the land acquisition act.
but of cos with FH, the compensation will be higher.
so although FH does not mean perpetual ownership, it is still better than LH.

 

[RedOrion]

Some people buy freehold because it is supposed to be "forever" ie. Can pass down generations vs 99 years leasehold which lasts 1-2 generations.

But recently what ho ching has commented this on her facebook:



This makes me realised, actually nothing is permanent and forever.

She is right. Even if you buy freehold, and the govt needs the land for whatever purpose, it will be acquired whether you like it or not.

For leasehold yes it will be gone in 99 years, the value will drop, etc, but if Im staying there and it lasts my lifetime, it will be enough.
My kids can get their own house.

Even the value part is not completely true. I can find some freehold condo cheaper than leasehold condo in similar area.

So is this freehold idea just to trick people to spend more money?

Singapore is not even 99 years and nobody knows what will happen in future...

This is because for local context.
She say can "nationalize" the land...means gahmen take back.
Only to scare people, you think they will one shot take back all the lands?

If no good, why are the rich sleeping on freehold land?

 

[fulaien]

I tried to search for cheap freehold houses near my area.

The cheaper ones are >30 years old, and really looks so old that you wouldnt want to live there even if give you free.

Yes people say freehold is for landed, not condo. Because landed can tear down and rebuilt.

But seriously how many has money to buy landed and tear down and rebuilt?

Do you know tearing down and rebuild will cost like 3 to 7 million depending on how big the house?

 

[Mecisteus]

Better in what sense ?

Leasehold vs freehold have their own strengths and negatives.

Know what you want.

 

[hachi]

Unless you live 200 y, peasants got 3 bto chances enough for 160 y or when the first 2, sold off at 30 y...

 

[fulaien]

This is because for local context.
She say can "nationalize" the land...means gahmen take back.
Only to scare people, you think they will one shot take back all the lands?

If no good, why are the rich sleeping on freehold land?

That is because of the perception of "good". Perception of permanance and can "pass down generations". Its like patek philip. All marketing.

 

[mewmew]

Some people buy freehold because it is supposed to be "forever" ie. Can pass down generations vs 99 years leasehold which lasts 1-2 generations.

But recently what ho ching has commented this on her facebook:



This makes me realised, actually nothing is permanent and forever.

She is right. Even if you buy freehold, and the govt needs the land for whatever purpose, it will be acquired whether you like it or not.

For leasehold yes it will be gone in 99 years, the value will drop, etc, but if Im staying there and it lasts my lifetime, it will be enough.
My kids can get their own house.

Even the value part is not completely true. I can find some freehold condo cheaper than leasehold condo in similar area.

So is this freehold idea just to trick people to spend more money?

Singapore is not even 99 years and nobody knows what will happen in future...

she hint must vote incumbent party if notch yr freehold also can go jiro

 

[jack-320]

Freehold means house can pass to 999th generation and the house is still theirs

Leasehold means once the lease is finished, and the lease ends at the 2nd or 3rd generation who is beh kan char siew who cannot afford to buy new flat, they can get ready to sleep rough/live in rental HDB for the rest of their life and the same applies to their future generations

 

[EDMW-Hates-Me]

Freehold got chance to be acquired prematurely.

Leasehold got chance to be extended.

Nobody actually knows the truth because sg is only 57yo. Everything is on paper, if you trust our govt lor.

Freehold has much better chance. If they acquire a few, the compensation will likely be enough to buy another freehold in the same area. They are unlikely to acquire all. Many of them own freehold too. If they really acquire all, count yourself suay lor. The compensation will still be enough to buy a leasehold in the same area.

Is like you want to have kids. You marry one with fertility problem vs marry one with no fertility problem. The former might heng heng pop out a kid. The latter no guarantee will confirm plus chop pop out a baby.

 

[Racking2322]

Some people buy freehold because it is supposed to be "forever" ie. Can pass down generations vs 99 years leasehold which lasts 1-2 generations.

But recently what ho ching has commented this on her facebook:



This makes me realised, actually nothing is permanent and forever.

She is right. Even if you buy freehold, and the govt needs the land for whatever purpose, it will be acquired whether you like it or not.

For leasehold yes it will be gone in 99 years, the value will drop, etc, but if Im staying there and it lasts my lifetime, it will be enough.
My kids can get their own house.

Even the value part is not completely true. I can find some freehold condo cheaper than leasehold condo in similar area.

So is this freehold idea just to trick people to spend more money?

Singapore is not even 99 years and nobody knows what will happen in future...

Govt acquire is land value. Leasehold over becomes zero. Still doesn't mean FH is better. Really depends

 

[waterdestiny]

I tried to search for cheap freehold houses near my area.

The cheaper ones are >30 years old, and really looks so old that you wouldnt want to live there even if give you free.

Yes people say freehold is for landed, not condo. Because landed can tear down and rebuilt.

But seriously how many has money to buy landed and tear down and rebuilt?

Do you know tearing down and rebuild will cost like 3 to 7 million depending on how big the house?

Freehold condo can renovate to make it new

 

[mp4005 help]

freehold , government can still pay you market rate and force you out.

doesn't matter what lease , government owns everything.

 

[Racking2322]

Freehold has much better chance. If they acquire a few, the compensation will likely be enough to buy another freehold in the same area. They are unlikely to acquire all. Many of them own freehold too. If they really do, then count yourself suay lor.

Is like you want to have kids. You marry one with fertility problem vs marry one with no fertility problem. The former might heng heng pop out a kid. The latter no guarantee will confirm plus chop pop out a baby.

General guideline is avoid those near the road FH

 

[fulaien]

there is the land acquisition act.
but of cos with FH, the compensation will be higher.
so although FH does not mean perpetual ownership, it is still better than LH.

That is the supposed advantage.

But even "compensation" is up to them. The govt will decide and there is nothing stopping them to compensate what they deemed fit, regardless of the lease status

 

[tankgunner]

If BBFA forget about FH lah