Kopites Supersonic July 1, 2022 Share July 1, 2022 (edited) 1 hour ago, inlinesix said: Condo of the same size is looking at $1.6m and up. Across the road highline single bed going at about 1.1 to 1.3 now.😁 During 2018 launches me and wife were there on invite. Definitely less than 1 mil for a single bed (high floor) if remembered correctly. Who know a frog can turn into a prince. Haiz ...😓 Edited July 1, 2022 by Kopites ↡ Advertisement Link to post Share on other sites More sharing options...
therock Supersonic July 2, 2022 Author Share July 2, 2022 https://www.straitstimes.com/singapore/housing/owners-of-sers-flats-in-ang-mo-kio-to-get-option-of-replacement-flats-with-shorter-50-year-lease now that there are shorter leases let’s see if those complaints stop… My prediction? There will be few takers… those guys were probably hoping the government will give them money for a bigger unit … let’s see if I’m wrong… 1 1 Link to post Share on other sites More sharing options...
Dafansu Turbocharged July 2, 2022 Share July 2, 2022 1 minute ago, therock said: https://www.straitstimes.com/singapore/housing/owners-of-sers-flats-in-ang-mo-kio-to-get-option-of-replacement-flats-with-shorter-50-year-lease now that there are shorter leases let’s see if those complaints stop… My prediction? There will be few takers… those guys were probably hoping the government will give them money for a bigger unit … let’s see if I’m wrong… yes agreed it makes more sense to take the full 99 lease, when selling definitely will profit more. Those takers for these shorter lease likely will be very minimal and maybe due to certain personal circumstances. Link to post Share on other sites More sharing options...
therock Supersonic July 2, 2022 Author Share July 2, 2022 There is another thing which is cemented with this shorter lease development… the government will take back the flat… I suspect some owners are hoping for a reprieve or cash back when the lease ends at 99 years or 50 in this case, but it truly define it as a lease.. the term Mr Ku Swee Yong used a few years back… https://www.straitstimes.com/singapore/housing/new-rehousing-options-for-owners-of-sers-flats-starting-with-those-in-ang-mo-kio 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic July 2, 2022 Share July 2, 2022 (edited) aiya ... the resident just want 1-to-1 replacement with "cash profit" or apple-to-apple swap (similar floor, similar size, no less) simi lease buyback or 50 years lease for new flat will not work la resident complain ... this is not fair ... i never ask for this ... why i have to move ... HDB rule once kena SERS = compulsory walao ehh ... life is never fair ... will he complain when HDB = $0 after 99 years that he paid $1M for it? if i have to move why i must accept the shortchange that i have to top up for moving to a "worse off" area than my current place (see where is this going?) but the resident never take into consideration it's a brand NEW flat vs a laopok OLD flat but again ... resident complain .... location location location ... who don't want a sibei old flat in AMK vs new flat in CCK ... lol the solution to the matter is $$$ $$$ $$$ ... not what is fair or what are the options available in the system resident playing "not fair" knowing there are rules clearly stated in the the game ... even you don't know ... everyone follow the same rules ... nobody is shortchanged ... Edited July 3, 2022 by Wt_know Link to post Share on other sites More sharing options...
Wt_know Supersonic July 3, 2022 Share July 3, 2022 can we have the cake and eat it? if not ... no point ... Link to post Share on other sites More sharing options...
Volvobrick Supersonic July 3, 2022 Share July 3, 2022 2 hours ago, therock said: There is another thing which is cemented with this shorter lease development… the government will take back the flat… I suspect some owners are hoping for a reprieve or cash back when the lease ends at 99 years or 50 in this case, but it truly define it as a lease.. the term Mr Ku Swee Yong used a few years back… https://www.straitstimes.com/singapore/housing/new-rehousing-options-for-owners-of-sers-flats-starting-with-those-in-ang-mo-kio I bet when some of those with 50 yr lease want to sell their flats in a few years, cannot fetch normal market prices, they will KPKB say short changed lah and will demand to be allowed to top up to 99 years again.... Link to post Share on other sites More sharing options...
therock Supersonic July 3, 2022 Author Share July 3, 2022 2 minutes ago, Volvobrick said: I bet when some of those with 50 yr lease want to sell their flats in a few years, cannot fetch normal market prices, they will KPKB say short changed lah and will demand to be allowed to top up to 99 years again.... Blame the government lor… usual SOP this will be a warning for those who are still holding out for value after the lease expires.. Link to post Share on other sites More sharing options...
Wt_know Supersonic July 3, 2022 Share July 3, 2022 (edited) 15 minutes ago, Volvobrick said: I bet when some of those with 50 yr lease want to sell their flats in a few years, cannot fetch normal market prices, they will KPKB say short changed lah and will demand to be allowed to top up to 99 years again.... actually, my thinking is those opt for 50 years lease ... then assume the flat is like an equity home owner = 50/99 years = 50.5% hdb = 49/99 years = 49.5% all the flat should be priced at market price for resale ... so when the unit is sold ... 49.5% of the proceeds goes to HDB ... fair? easily done and it's totally transparent to the "resale buyer" as he will buy with 99 years lease so ... every unit is 99 years old valued and resale ... nothing change ... all units from the SERS replacement flats treated the same as 99 years hopefully this does not open a pandora box that HDB now start owning HDB flats as home owners ... but with lease buyback programme ... HDB already owning flats ... LOL Edited July 3, 2022 by Wt_know Link to post Share on other sites More sharing options...
Volvobrick Supersonic July 3, 2022 Share July 3, 2022 32 minutes ago, Wt_know said: actually, my thinking is those opt for 50 years lease ... then assume the flat is like an equity home owner = 50/99 years = 50.5% hdb = 49/99 years = 49.5% all the flat should be priced at market price for resale ... so when the unit is sold ... 49.5% of the proceeds goes to HDB ... fair? easily done and it's totally transparent to the "resale buyer" as he will buy with 99 years lease so ... every unit is 99 years old valued and resale ... nothing change ... all units from the SERS replacement flats treated the same as 99 years hopefully this does not open a pandora box that HDB now start owning HDB flats as home owners ... but with lease buyback programme ... HDB already owning flats ... LOL This deal is too good - free financing from HDB for 50% of the value meanwhile owners use it 100% until it is sold. Like we co-own 50-50 pay for a car but you can't use it. 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic July 3, 2022 Share July 3, 2022 (edited) 6 minutes ago, Volvobrick said: This deal is too good - free financing from HDB for 50% of the value meanwhile owners use it 100% until it is sold. Like we co-own 50-50 pay for a car but you can't use it. ok la ... ah gong wont use it but after MOP sell no $1M no talk ... ah gong also win ... the home owner is paying the mortgage of the 50 years lease to get going like angel investor ... i pump 1st tranche of money into a business ... the other partner run the business + all the headache + make profit ... then i can resell the business that i own 49% ... huat ah! Edited July 3, 2022 by Wt_know Link to post Share on other sites More sharing options...
Wt_know Supersonic July 3, 2022 Share July 3, 2022 (edited) 20 hours ago, therock said: https://www.straitstimes.com/singapore/housing/owners-of-sers-flats-in-ang-mo-kio-to-get-option-of-replacement-flats-with-shorter-50-year-lease now that there are shorter leases let’s see if those complaints stop… My prediction? There will be few takers… those guys were probably hoping the government will give them money for a bigger unit … let’s see if I’m wrong… Edited July 3, 2022 by Wt_know Link to post Share on other sites More sharing options...
therock Supersonic July 3, 2022 Author Share July 3, 2022 https://www.channelnewsasia.com/asia/china-developers-farmers-pay-homes-watermelon-peach-garlic-2787421 Wah, how many apples and oranges will it cost to pay for a condo... Maybe the government will let the SERS folks pay for the different in chickens... 1 Link to post Share on other sites More sharing options...
therock Supersonic July 4, 2022 Author Share July 4, 2022 https://www.straitstimes.com/singapore/prices-of-new-leasehold-condos-in-suburbs-set-to-rise OCR for 2000 psf... phew... Link to post Share on other sites More sharing options...
Wt_know Supersonic July 4, 2022 Share July 4, 2022 awesome … when i can sell my cck $2500/psf i will move to jb … huat ah! 1 Link to post Share on other sites More sharing options...
therock Supersonic July 4, 2022 Author Share July 4, 2022 https://www.channelnewsasia.com/singapore/sers-ang-moh-kio-rehousing-options-future-projects-desmond-lee-2788946 More on SERS... Link to post Share on other sites More sharing options...
therock Supersonic July 5, 2022 Author Share July 5, 2022 On 7/3/2022 at 9:54 AM, Volvobrick said: I bet when some of those with 50 yr lease want to sell their flats in a few years, cannot fetch normal market prices, they will KPKB say short changed lah and will demand to be allowed to top up to 99 years again.... This is why: https://www.straitstimes.com/singapore/housing/five-room-hdb-flat-in-marine-parade-sold-for-101-million-in-one-week-first-million-dollar-hdb-in-the-estate The news of the million dollar fifty year old flats are plastered all over the papers, and they feel they should become millionaires instead of paying for the new flats.. So on one hand there are people getting rich, and on the other side, the government is telling them their lease is expiring and the flat isn't worth as much.. So here in lies the great divide.. 1 Link to post Share on other sites More sharing options...
Volvobrick Supersonic July 6, 2022 Share July 6, 2022 1 hour ago, therock said: This is why: https://www.straitstimes.com/singapore/housing/five-room-hdb-flat-in-marine-parade-sold-for-101-million-in-one-week-first-million-dollar-hdb-in-the-estate The news of the million dollar fifty year old flats are plastered all over the papers, and they feel they should become millionaires instead of paying for the new flats.. So on one hand there are people getting rich, and on the other side, the government is telling them their lease is expiring and the flat isn't worth as much.. So here in lies the great divide.. Can't blame the sellers. If the buyers are willing to pay 1m for 50 year old HDB, that's the free market. It's like crypto but at least these million dollar flats have intrinsic values and can generate cash flow. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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