Properties info

[Volvobrick]

On 4/1/2024 at 11:00 PM, 13177 said:

I think for real rich people, don't think they need to downgrade to HDB to get more cash on hand. Either they have already have lots of cash on hand or they have others income source to get more cash, and yet still able to stay put in their private house. If they want really to so called 'downgrade', they would move from their existing big private, example 4 bedder or landed to a 1 bedder or 2 bedder private. Afterall still a private lo. 😂 

"Private" property for the sake of saying staying in private! 

There is a group of people with GCB bought cheap/inherited but now with the huge increase in property tax (32% of annual value) they are struggling to pay. They also have to downgrade eventually. After that true millionaire or not? 

[13177]

On 4/1/2024 at 10:43 PM, Throttle2 said:

He said a bit extreme to bring home the point lah.  

i didnt say it isnt a wise move.   
but they are not real true millionaires lor.  Real true millionaires dont have to live in hdb so as to free up cash leh….

Having a few million dollars in networth doesnt make you a real true millionaire, just a technical millionaire, like the thousands of hdb dwellers / owners.   Heh heh. 

Like i have already mentioned, it is a wise move for millionaires to downgrade their home to another smaller private, when they do not need such a big private house liao. Mainly no point living such a big house when only left 1-2 persons staying, same time indeed can get some more cash on hand when they sell their existing private, but not due to they want to get more cash to spend, since they should already have lots of money in their bank to sustain their current lifestyle liao, whether or not they are selling their existing private house. This is indeed wise move. 😂

[Volvobrick]

On 4/1/2024 at 11:09 PM, 13177 said:

Like i have already mentioned, it is a wise move for millionaires to downgrade their home to another smaller private, when they do not need such a big private house liao. Mainly no point living such a big house when only left 1-2 persons staying, same time indeed can get some more cash on hand when they sell their existing private, but not due to they want to get more cash to spend, since they should already have lots of money in their bank to sustain their current lifestyle liao, whether or not they are selling their existing private house. This is indeed wise move. 😂

Quite true. Many Sg landed are over built with so too many bedrooms often never occupied. Or GCB with only one old folk plus helper. 

Me lucky no big house to worry.... 😆

[13177]

On 4/1/2024 at 11:15 PM, Volvobrick said:

Quite true. Many Sg landed are over built with so too many bedrooms often never occupied. Or GCB with only one old folk plus helper. 

Me lucky no big house to worry.... 😆

Actually no need say must stay in landed or GCB then consider big house wor. If one old folk staying in a 4 room or 5 room HDB, i find it is consider big liao. Esp the cleaning part. For one or even two old folk, i find staying in a 2 or 3 rm HDB good enough liao.

Edited April 1, 2024 by 13177

[Mkl22]

On 4/1/2024 at 11:15 PM, Volvobrick said:

Quite true. Many Sg landed are over built with so too many bedrooms often never occupied. Or GCB with only one old folk plus helper. 

Me lucky no big house to worry.... 😆

GCB how to have only 1 helper…. Want helper to die of over work?

but know of some of such cases. All downgrade into smaller places cause husband passed on and kids abroad. One big fat house also sian. Then non stop of stuff to fix as the property ages but yet not willing to dump lots of money to fix as not much point, so sell off in the end. 

[Throttle2]

On 4/1/2024 at 11:09 PM, 13177 said:

Like i have already mentioned, it is a wise move for millionaires to downgrade their home to another smaller private, when they do not need such a big private house liao. Mainly no point living such a big house when only left 1-2 persons staying, same time indeed can get some more cash on hand when they sell their existing private, but not due to they want to get more cash to spend, since they should already have lots of money in their bank to sustain their current lifestyle liao, whether or not they are selling their existing private house. This is indeed wise move. 😂

Yeah, next time i old already i also may sell my landed but certainly not to fight with the larger population to buy a hdb lor…..

[Throttle2]

On 4/1/2024 at 11:06 PM, Volvobrick said:

"Private" property for the sake of saying staying in private! 

There is a group of people with GCB bought cheap/inherited but now with the huge increase in property tax (32% of annual value) they are struggling to pay. They also have to downgrade eventually. After that true millionaire or not? 

If they sell the GCB and pocket $40mil then buy a condo for $4mil with $36mil in the pocket, you say leh?  true mllionaire or not ?  Come on, its very clear isnt it?

but a fella who sells his condo for $3m and then buys an hdb for $1.2m so that he has $1.8m left to retire, true millionaire or not? You say leh?
 

its not for the sake of staying in private, when you truly can, you truly can, but when you cant, then well you cant. 

Edited April 2, 2024 by Throttle2

[Dp26]

Some have more than a few properties therefore sell their landed and maybe move to their condo?

 

I also do know of a few that have this plan but not sure whether they will execute it in the end…

[Throttle2]

On 4/2/2024 at 10:51 PM, Dp26 said:

Some have more than a few properties therefore sell their landed and maybe move to their condo?

 

I also do know of a few that have this plan but not sure whether they will execute it in the end…

Yes they usually do, thats why to sell and move into HDB is not real true millionaire 

😁😎

[lukeber]

Before ABSD, TDSR came in about 10 years ago, property investors that have holding power, will have a few properties on hand as investment....

[Wt_know]

no sell no scare 

ah gong show hand liao

huat ah!

https://www.straitstimes.com/singapore/politics/44-residential-projects-granted-absd-deadline-extension-to-clear-unsold-units-dpm-wong

Edited April 4, 2024 by Wt_know

[Throttle2]

On 4/4/2024 at 10:38 AM, Wt_know said:

no sell no scare 

ah gong show hand liao

huat ah!

https://www.straitstimes.com/singapore/politics/44-residential-projects-granted-absd-deadline-extension-to-clear-unsold-units-dpm-wong

and therein lies the problem today 

Mr LKY said whoever governs Singapore needs to hv the iron in them……. I dont see enough iron leh

Edited April 4, 2024 by Throttle2

[ccc888]

On 3/11/2024 at 5:48 PM, lukeber said:

EC owners exit after reaching MOP
Source: Zaobao, 11 March 2024
From the statistics, it showed ave of 25% EC owners will exit 2 years after reaching MOP.

After they exit, they will then realised they need to top up and/or take bigger loan or downgrade to HDB

[Krieger]

Well, most of the time when selling landed and move for older folks is to have more ease to facilities. 

I will sell my landed for a town condo to have access to malls and hospi care. Midtown is an ideal development where my wife and I can fo suntec walkwalk and go raffles hospi for treatments. 

Landed most of the time need to walk (15-20mins) to reach food places or drive out. Darn ma fan. TO be frank, I do not really like my landed as its darn far from everywhere. If not for the space for my children, I rather stay in town or near bukit timah reserve area (monkey issues) 

 

[mersaylee]

On 4/4/2024 at 12:20 PM, Krieger said:

Well, most of the time when selling landed and move for older folks is to have more ease to facilities. 

I will sell my landed for a town condo to have access to malls and hospi care. Midtown is an ideal development where my wife and I can fo suntec walkwalk and go raffles hospi for treatments. 

Landed most of the time need to walk (15-20mins) to reach food places or drive out. Darn ma fan. TO be frank, I do not really like my landed as its darn far from everywhere. If not for the space for my children, I rather stay in town or near bukit timah reserve area (monkey issues) 

 

Even new town also not spared...monkey buffet...😂

[Lala81]

On 4/4/2024 at 12:20 PM, Krieger said:

Well, most of the time when selling landed and move for older folks is to have more ease to facilities. 

I will sell my landed for a town condo to have access to malls and hospi care. Midtown is an ideal development where my wife and I can fo suntec walkwalk and go raffles hospi for treatments. 

Landed most of the time need to walk (15-20mins) to reach food places or drive out. Darn ma fan. TO be frank, I do not really like my landed as its darn far from everywhere. If not for the space for my children, I rather stay in town or near bukit timah reserve area (monkey issues) 

 

actually my friends who own landed, don't like to go malls or outside one leh. 

accessibility to food of course is a major issue. But they rather have the space at their home to do their hobbies etc. 

But of course now spending time at home is ok cos the fledglings still in the nest. 

I think once all the kids fly the coop, that's the impetus lol. though hopefully replaced by grandchildren.

Edited April 4, 2024 by Lala81

[Lala81]

On 4/4/2024 at 11:48 AM, ccc888 said:

After they exit, they will then realised they need to top up and/or take bigger loan or downgrade to HDB

I would say yeah. EC is good for entering the market if u like the location (close to family or your hood), as it's definitely cheaper than PC and same living conditions. 

my BILs both bought EC. 

But exit to PC is also very difficult now with the price jump over last few years. 

Edited April 4, 2024 by Lala81

[13177]

On 4/4/2024 at 12:27 PM, mersaylee said:

Even new town also not spared...monkey buffet...😂

This is why staying near to forest area no good. Can have monkeys problem in your estate no matter it is new town or old town or atas town.

Edited April 4, 2024 by 13177