Singapore Property Scene Discussion

[therock]

2 hours ago, golden_eagle said:

Thank you. It's HWZ Homeseeker section where I got that statement but I am a reader there only. I bought the SLA land title with a section saying Lessee is Hong realty but doesnt say land owner. Confused. CP seems to be 10 yrs old when it finishes.

Where else can I read or get a clue? From what I know FH 103 is an arrangement like that. 

The lawyer who handled your transaction will be a good place to start.. and I wonder why you didn't check this with your agent prior to the purchase? 

[golden_eagle]

1 minute ago, therock said:

The lawyer who handled your transaction will be a good place to start.. and I wonder why you didn't check this with your agent prior to the purchase? 

I havent got a transaction yet. Doing research only so not many agent knows that either it seems. 

[Mkl22]

2 hours ago, golden_eagle said:

Thank you. It's HWZ Homeseeker section where I got that statement but I am a reader there only. I bought the SLA land title with a section saying Lessee is Hong realty but doesnt say land owner. Confused. CP seems to be 10 yrs old when it finishes.

Where else can I read or get a clue? From what I know FH 103 is an arrangement like that. 

Check for The shore residences. This one is confirmed FH to leasehold. see if the SLA title deed is any different. 
https://www.todayonline.com/singapore/residents-leasehold-properties-sitting-freehold-land-face-extra-poser-seeking-collective

[AgentG]

8 hours ago, golden_eagle said:

I read somewhere that the 5 CDL plots at Pasir Ris Grove, coco Palm, D'nest, etc are "LH99 tenure carved out of FH land". It's said such LH99 may run into enbloc issues down the road. 

Want to check whether that is true. The following is what I get from the SLA land title, but not sure how to interpret that. 

--------------------------------- STATE TITLE ---------------------------------
STATE TITLE : LEASE No. 26650
ISSUE DATE : 27/2/2008
LEASE TERM : 99 Yrs
COMMENCEMENT DATE : 7/1/2008
EXPIRY DATE : 6/1/2107
SUPPLEMENTAL DEED DATE : 10/11/2014
GRANTEE/LESSEE NAME : HONG REALTY (PRIVATE) LIMITED
MANNER OF HOLDING : SINGLE PROPRIETORSHIP

i think it used to be 999 years argi land. CDL paid to covert 3 plots to residential land (99 yrs lease) in 2008 and 2 plots to residential land (99 yrs lease) in 2010. you can check out CDL past annual reports. 

[therock]

https://www.straitstimes.com/singapore/court-gives-lentor-condo-management-corporation-3-months-to-get-90-nod-or-remove-awnings

Quote

SINGAPORE - The owners of a 15th-storey unit at Bullion Park condo in Lentor Loop objected when their neighbours one floor below erected an awning over their balcony that collected dust and caused excessive glare. This first happened in 2011.

They took the condo management to the High Court when the Strata Titles Board (STB) declined their application last year to have the 14th-storey unit owner remove the installation.

The court last month reversed the STB's decision and ordered the awnings removed unless the management corporation can, within three months, get 90 per cent approval from unit owners to keep existing awnings over balconies on the 14th-floor units.

The issue involved only 14th units which were unique in having balconies in the tower blocks of the condo development.

The court allowed the appeal of 15th floor unit owner Mu Qi and her husband, who had sought an order to remove the awning over the balcony of the unit below their apartment.

Justice Ang Cheng Hock ruled that the condo's management corporation (MC) had not obtained the requisite 90 per cent approval of the condo development's unit owners as required under the Building Maintenance and Strata Management Act for the alterations.

 

[Wind30]

….

Edited August 9, 2021 by Wind30

[Wt_know]

thank you all GURU .... go go go 

please clock another $30B for 2H of 2021

no $50B no talk ... huat ah!

[Throttle2]

Listen to guru, dont make mistakes, idiots!

[therock]

The Queenstown ARC looks interesting 

https://www.tnp.sg/news/singapore/hdb-launches-4989-bto-flats-sale-across-five-estates?fbclid=IwAR1x-5s_1fPqgIqpeVPT0_hmuxN4w4OB_ba3Wfun9Co0IHGta5rCJOn_EwE

[Victor68]

Of late the new condo launches has gone crazy. 99 LH no $1.5 k and above no talk. 80% sold within a week is no more news. What is actually happening? Since this is property chit chat, good if people in the know can share the best deal still available now and see if MCF members want to join in the fun?

[Throttle2]

19 hours ago, Victor68 said:

Of late the new condo launches has gone crazy. 99 LH no $1.5 k and above no talk. 80% sold within a week is no more news. What is actually happening? Since this is property chit chat, good if people in the know can share the best deal still available now and see if MCF members want to join in the fun?

Loans are still easy peasy.  Everybody YOLO.  Economy holding up well for People who are Employees.  Govt inject Supplements.

the Fun was over long ago.   These new buyers wont make much extraordinary gains like we used to.   Just wealth preserving at best.

Edited August 18, 2021 by Throttle2

[Victor68]

1 hour ago, Throttle2 said:

Loans are still easy peasy.  Everybody YOLO.  Economy holding up well for People who are Employees.  Govt inject Supplements.

the Fun was over long ago.   These new buyers wont make much extraordinary gains like we used to.   Just wealth preserving at best.

So all sitting waiting for the sun to raise from the west someday? Would inflation makes today psf looks OK in the next 5 years assuming nobody goes bankrupt, I mean these buyers? Or maybe outside forces will snap up whatever people need to throw later? 

[Throttle2]

51 minutes ago, Victor68 said:

So all sitting waiting for the sun to raise from the west someday? Would inflation makes today psf looks OK in the next 5 years assuming nobody goes bankrupt, I mean these buyers? Or maybe outside forces will snap up whatever people need to throw later? 

More are buying to stay.  "Upgrading" from bigger public unit to smaller private unit. 

Bankruptcy in SG is always fairly low but with higher usage of leverage, it will go up.  
Financial stress will be greater on these families who bite more than they can chew.  Dont need to be bankrupt to feel the stress

Outside forces will take up some as they always do.   But certainly not all the lousy mass market condo in suburbs 😁😂

[Victor68]

28 minutes ago, Throttle2 said:

More are buying to stay.  "Upgrading" from bigger public unit to smaller private unit. 

Bankruptcy in SG is always fairly low but with higher usage of leverage, it will go up.  
Financial stress will be greater on these families who bite more than they can chew.  Dont need to be bankrupt to feel the stress

Outside forces will take up some as they always do.   But certainly not all the lousy mass market condo in suburbs 😁😂

I am actually seeing this trend "Upgrading" from bigger public unit to smaller private unit. Selling their 1,500 sq ft for $600k and moving into a 900 sq ft for $1.4 m or smaller. Even with this, the gap is still $800k to be paid over 30 years? Hopefully when the time come to retire, this $1.4 m apartment will turn into $3 m for downgrade and happy after.

 

 

[therock]

IMO

whatever you do : live within your means

dont overextend and live perpetually in debt

maybe prices will go up but it’s ok to be content too

the gulf in prices between a HDB, even a million dollar one and a basic condo is still very significant 

that money can buy a nice car, pay for many holidays and more

so where you put your money is less important than whether it really makes you happy..

[Throttle2]

5 minutes ago, therock said:

IMO

whatever you do : live within your means

dont overextend and live perpetually in debt

maybe prices will go up but it’s ok to be content too

the gulf in prices between a HDB, even a million dollar one and a basic condo is still very significant 

that money can buy a nice car, pay for many holidays and more

so where you put your money is less important than whether it really makes you happy..

Exactly that.  
No point having most of your networth in a property.  If can cut into several smaller ones still not so bad. Easier to liquidatejust in case.  
contented can liao

the race is always against yourself

[therock]

Loans for asset rich seniors…

https://www.asiaone.com/money/new-dbs-reverse-mortgage-loan-good-asset-rich-cash-poor-retirees

but I wonder how many will bite… they want free money and still hang onto their private property… and get angry with the government for not giving them that… 

[Throttle2]

13 hours ago, therock said:

Loans for asset rich seniors…

https://www.asiaone.com/money/new-dbs-reverse-mortgage-loan-good-asset-rich-cash-poor-retirees

but I wonder how many will bite… they want free money and still hang onto their private property… and get angry with the government for not giving them that… 

Those who want others to pay them to hold their assets is lanjiao lang of the lowest class. 
 

They have no right to get angry for that reason.  Sell the asset first then talk.  
 

anyway all these reverse mortgage plans is like the banks acquiring properties while charging interest. i wouldnt mind doing it to a developer.

eg. I pay developer a fixed sum every month for which i charge them interest, then 20yrs later, i sarpoot the property under my name since they owe me big money (P+I)  basically like a rental guaranteed property purchase.   Song song gao jurong.  
muayhahhahhahhhahah