Renting vs Buying a property!

[LPPL]

There are more locations than these 3 location. Like Geylang Baru, Boon Keng, Circuit Rd, Havelock Rd etc. Think in toa payoh alone, there are already lots of old flats.

 

Think the flat which transacted for a million is not old flat. Those flat should be built in the 90s. Should those flats next to Queenstown MRT. Those are not old flats. Old flats are those further up at the food centre and market area.

Even then it is absolute madness to pay this kind of money for an hdb flat.

[Enye]

I posted this way back and really looking at how things are moving, time to revisit

 

 

https://www.channelnewsasia.com/news/singapore/big-read-hdb-lease-decay-public-mindset-change-homeownership-10361572

so what changed since you started the thread?

 

 

[RadX]

so what changed since you started the thread?

 

ð¬ð¤

If you fail to see, then too bloody bad

 

I hv no time to explain to peasants

[inlinesix]

Even then it is absolute madness to pay this kind of money for an hdb flat.

Only ppl cash out of existing condo will pay

[RadX]

ok now to revisit this

 

 

looks like we ALL are renting hahahahahaahah for 99 years

that said, i rather keep my cash, CPF and let it grow in the bank rather than fork out for a eh dee-bee

[Kusje]

wah lau.

 

sentosa cove resident talking down to hdb holder again...

[cmdsea]

There's still some time before the 99 year leasehold period runs out for HDB flats.  Quite a lot of time. So why is it that all of a sudden, people are all being told  that they will be cut off?  What's the rationale for such a move?

 

 

 

The problem is that when you go to a bank for a mortgage to buy the property, the bank want at least a 50-60 year balance AFTER the loan has been fully paid. So you actually need at least 75-80 years at the time of purchase... if people are unable to get a mortgage then you can only sell to cash buyers who are few and far between and will drive a hard bargain (there is a reason they have that much money in the first place.!) so basically the property value does not depreciate slowly as the lease remaining dwindles, its value suddenly "falls of a cliff" once people are no longer able to get a mortgage on it...

 

For historical reasons, Singapore is following the UK flat ownership and leasehold system where 99 year leases are also common. The UK had the same problem and this was solved by new legislation around 25 years ago that means any flat owner after they have owned a property for more than 2 years, has the legal right to add an additional 90 years to their lease if they want to. However this is not free, there is a valuation process and below about 70 years remaining, the premium to extend can be hefty. However it then allows the flat to be sold with a new long lease. As more and more flats age, I forsee that Singapore will eventually adopt a similar solution... https://www.lease-advice.org/advice-guide/lease-extension-getting-started/

[RadX]

wah lau.

 

sentosa cove resident talking down to hdb holder again...

So says the condom owner

[13177]

In sg many one of us rent house and car lo. Unless you full cash if not all are renting. Lol.

[Ash2017]

wah lau.

 

sentosa cove resident talking down to hdb holder again...

 

kena influenced by T2

 

soon he will take up tablewiping job for exercise

 

 

then go svenson for hair transplant on this arm to take picture with lolex

[pegasi]

you mean fh or lh99

if lh99 fully paid, is still just renting

just that you paid the 99yr rental in full

 

In sg many one of us rent house and car lo. Unless you full cash if not all are renting. Lol.

[Wt_know]

stay in LUXURY hotels around the world and WFH is better than renting a mickey mouse condo in spore

$1200 cant even get a 1-room studio?

limpeh likes this idea  

https://mothership.sg/2021/11/covid-19-luxury-travel/

Edited November 21, 2021 by Wt_know

[Ho2786]

if you are young than buy

if you are old don't buy

because you  may not live to see any price appreciation

and if it falls you may not have the time to see a recovery.

 

 

[Windwaver]

Who wants to rent? 

https://www.propertyguru.com.sg/listing/hdb-for-rent-224-bukit-batok-street-21-21342955

[Volvobrick]

2 hours ago, Windwaver said:

Who wants to rent? 

https://www.propertyguru.com.sg/listing/hdb-for-rent-224-bukit-batok-street-21-21342955

Can cook in the room. Or is it can sleep in the kitchen? 

[Windwaver]

12 minutes ago, Volvobrick said:

Can cook in the room. Or is it can sleep in the kitchen? 

I think it's both 

[13177]

3 hours ago, Windwaver said:

Who wants to rent? 

https://www.propertyguru.com.sg/listing/hdb-for-rent-224-bukit-batok-street-21-21342955

Link no longer available liao? 😅

[shrjun]

9 hours ago, 13177 said:

Link no longer available liao? 😅

can still see it when clicked on a laptop