Question about Prime HDB flat price

[Greygrey]

Assume there are two flats available in the same town. One Standard and one Prime. Both next to mrt. Standard flat is 15 years old. Prime flat 10 years old.

If the standard flat is transacting at 1M. How much would the Prime flat be transacting at in your view
Assume nearby condo 15 years is 2M and above.

Toa Payoh standard.
Mount Pleasant prime.
Both less than 8 storeys.
............
I have made some changes to above details.

 

[coyote]

Assume there are two flats available side by side. Both 10 to 12 years old. One Standard and one Prime.

If the standard flat is transacting at 1M. How much would the Prime flat be transacting at in your view.
Assume nearby condo same age is 2M and above.

There are no such thing as prime and plus units before Oct 2024. You had better engage a property agent to help explain to you. This official classification has huge impact on your resale values and should not be mixed with resale flat before Oct 2024.

 

[Greygrey]

There are no such thing as prime and plus units before Oct 2024. You had better engage a property agent to help explain to you. This official classification has huge impact on your resale values and should not be mixed with resale flat before Oct 2024.

I'm talking about this scenario in 15 years time. There will be lots of this scenario

 

[coyote]

I'm talking about this scenario in 15 years time. There will be lots of this scenario

You never specify in 15 years time in your original post.

 

[Greygrey]

You never specify in 15 years time in your original post.

Sorry me bad. Cos I have option to choose a prime flat in a few months time.

 

[mooseolly]

What district is that? If both same age is impossible to have one standard one prime in the same district. Either both standard or both prime.

 

[coyote]

Already reviewed by many before.

Oct 2024 onwards, hdb will be subjected to all the new restrictions below. So, the chance of person paying $1M for your hdb will be much lower. Because your next buyer's loan will be capped by their income of $14,000. To buy $1M from you, he has to fork out lots of cash. If he buys $2 from you, he'll have to fork out much more than $800-$900k. If he has $900K cash today, he can get a condo today, not hdb. The profit will be subjected to claw back, recently surfed to 12%...plus if you made $450,000 by flipping at the 15th year, it's divided by 15 years and divided by 2 names. So each person only made $15,000 per year. Factoring in 12% claw back, it will be even less. You want be locked in a BTO for 15 years for $15,000 profit per year? There are better ways to make money. Assuming you apply at age 35, you patiently wait for your mop to meet at your 50th birthday... You missed the golden age for you to make money flipping properties. Meanwhile, you saw your friend flipped ec at 8th year and flip at least 3 times with private condos and made much more money.

So, go for old resale hdb is better. Next best is go for EC, next is go for private condos.

Nobody can answer you if your prime and plus will fetch 2M in 15 years time. Simply it's not worth to spend 15 years of your prime time waiting for MOP of BTO.

 

[Greygrey]

Not possible to have Standard exactly the same age as Prime in 15 years time. So the former likely older by 2 years to 3 years.
I'm ok to stay more than 10 years.
So my question is if that 17-18 year old standard flat is 1M ... Would there be lots of people willing to buy the 10 year Prime flat at around the same price?

 

[BlackStar00]

Ur the guinea pig lor..... frankly, no one can predict

 

[buttbERry]

buy condo more huat ah

 

[Greygrey]

What district is that? If both same age is impossible to have one standard one prime in the same district. Either both standard or both prime.

Mount Pleasant. Queue not good so at best maybe 7-8 floor I think.

7 year old standard 4 room on lower floors in Toa Payoh about 1M now.
15 years time I reckon 1.5m onwards. Low floor Mount Pleasant can get around 600k.

Already my second bto.... Long term or stay 10 years at Toa Payoh also ok to me. Not looking at private route going forward.
But 4rm is 89m. Only 86m after deducting air con ledge. 5 pax staying so a bit cramp.

 

[grevq80o]

Assume there are two flats available side by side. Both 10 to 12 years old. One Standard and one Prime.

If the standard flat is transacting at 1M. How much would the Prime flat be transacting at in your view.
Assume nearby condo same age is 2M and above.

Lol side by side? Please ask a real question

 

[mooseolly]

Mount Pleasant. Queue not good so at best maybe 7-8 floor I think.

7 year old standard 4 room on lower floors in Toa Payoh about 1M now.
15 years time I reckon 1.5m onwards. Low floor Mount Pleasant can get around 600k.

Already my second bto.... Long term or stay 10 years at Toa Payoh also ok to me. Not looking at private route going forward.
But 4rm is 89m. Only 86m after deducting air con ledge. 5 pax staying so a bit cramp.

You very lucky got a second BTO as PLH. Only 5% of available flat for second timer. I think you don’t have to worry about the resale value because the first PLH at rochor haven’t even build finished yet not to mention MOP. So no one know what will happen.

 

[Bumblebee Man]

Your buyers have salary cap, unlikely you can sell it too high.

 

[TakKiu]

The potential buyers will have alot to think about, before buying it.

 

[Greygrey]

Lol side by side? Please ask a real question

Ya.... Such a scenario not possible.

I think 15 years later it is a choice of 15 year Standard flat in Toa Payoh vs a 10 year old Prime flat at Mount Pleasant.

If the Toa Payoh flat is 1.5m how much you think the Prime flat should fetch? 100k cheaper? Even lower? Or about the same?

Just asking ..... Cos nobody can tell for certain.

 

[TakKiu]

Need to wait for the first batch of prime bto to hit the market then you will get a clearer picture.

 

[toolbox03]

Mount Pleasant. Queue not good so at best maybe 7-8 floor I think.

7 year old standard 4 room on lower floors in Toa Payoh about 1M now.
15 years time I reckon 1.5m onwards. Low floor Mount Pleasant can get around 600k.

Already my second bto.... Long term or stay 10 years at Toa Payoh also ok to me. Not looking at private route going forward.
But 4rm is 89m. Only 86m after deducting air con ledge. 5 pax staying so a bit cramp.

Why are you thinking of selling since it is for long term stay? HDB not for flipping as you seem like a serial flipper, somemore 2nd timer bto

hope HDB penalise and blacklist you for flipping so many times at the expense of genuine buyers

 

[Greygrey]

Why are you thinking of selling since it is for long term stay? HDB not for flipping as you seem like a serial flipper, somemore 2nd timer bto

hope HDB penalise and blacklist you for flipping so many times at the expense of genuine buyers

Cos I'm already in my 50s.
Long term is 10-15 years to me.

 

[pentium_f]

Dont forget you have resale levy. 2nd time BTO very difficult to get, plus no more loan due to your age. Must pay in full. When you sell, most money may go in RA liao as you retire