awhtc 6th Gear February 13, 2022 Author Share February 13, 2022 6 minutes ago, Karoon said: Nah... Its a game of musical chairs + kick the can down the road. 20 years back while looking for my first flat people were saying govt sure give money back after 99 years. After 10 years its 'prices will drop after 30 years mark' Now its 'prices will drop after 50 years mark' In the meantime everyone and their uncle try to sell their flat at $1m. The problem is the bank loan and use of CPF aspects when a house has only 30-40 years of lease left. It becomes very difficult for the owner to sell, especially when it is a HDB since nobody can own more than one HDB. ↡ Advertisement 2 Link to post Share on other sites More sharing options...
Mkl22 Twincharged February 13, 2022 Share February 13, 2022 (edited) 6 minutes ago, awhtc said: The problem is the bank loan and use of CPF aspects when a house has only 30-40 years of lease left. It becomes very difficult for the owner to sell, especially when it is a HDB since nobody can own more than one HDB. You think only Malaysia will do “ at a stroke of a pen”? 🤣 Rules are made by men. Can be changed or broken. CPF rules can easily be changed at the stroke of a pen to suit whatever needs when the time comes. Edited February 13, 2022 by Mkl22 2 2 Link to post Share on other sites More sharing options...
Fitvip Supersonic February 13, 2022 Share February 13, 2022 3 hours ago, Macrosszero said: That’s exactly what the G has actually been warning the people, in a feeble attempt to rein in soaring prices, but it is falling on deaf ears with brains between them hoping they would get the en-bloc windfall like many before them. As the Chinese saying goes, you don’t drop tears till you see the coffin, and when the first of the 99 year flats goes, and occupants (rightfully) evicted, that people will realize it is very real. HDB flats can en-bloc? Link to post Share on other sites More sharing options...
macrosszero Turbocharged February 13, 2022 Share February 13, 2022 4 minutes ago, Fitvip said: HDB flats can en-bloc? Slip of tongue/finger, I meant SERS 1 Link to post Share on other sites More sharing options...
Karoon Turbocharged February 13, 2022 Share February 13, 2022 13 minutes ago, Macrosszero said: Slip of tongue/finger, I meant SERS Surely compensation for sers flat today and sers for flats with less than 10 years left will be very different. 1 Link to post Share on other sites More sharing options...
Fitvip Supersonic February 13, 2022 Share February 13, 2022 14 minutes ago, Macrosszero said: Slip of tongue/finger, I meant SERS SERS no windfall leh. Got to pay for the replacement flat! 1 Link to post Share on other sites More sharing options...
yishunite Turbocharged February 13, 2022 Share February 13, 2022 As long as got rental yield price is actually quite secure... just need to calculate ROI accurately on last 10-15 years 2 Link to post Share on other sites More sharing options...
Albeniz Turbocharged February 13, 2022 Share February 13, 2022 My HDB flat's 99 year lease will expire in the year 2085. I bought it mainly to stay. Already an old man, I don't think I will still be alive by then. Whether it has any value left after 99 years don't really matter to me. The youngest of my children will be 67 years old by that time. They should have their own houses way before that. So I don't want to dwell too much about it. I just treat buying a flat like buying a car. 5 Link to post Share on other sites More sharing options...
Old-driver 5th Gear February 13, 2022 Share February 13, 2022 The mentality of singaporean is that the house you bought must make $$, and staying in it becomes secondary. Of course its a bonus if it does, but regardless you need a roof over your heads. 99-years can certainly last till one die unless you live to 130 years. So yes, why worry so much until your flat left 10 years. 4 Link to post Share on other sites More sharing options...
awhtc 6th Gear February 13, 2022 Author Share February 13, 2022 56 minutes ago, Old-driver said: The mentality of singaporean is that the house you bought must make $$, and staying in it becomes secondary. Of course its a bonus if it does, but regardless you need a roof over your heads. 99-years can certainly last till one die unless you live to 130 years. So yes, why worry so much until your flat left 10 years. First BTO owner is definitely fine. It is more risky for resale HDB buyers, particularly if the remaining lease is 60 to 70 years. https://www.straitstimes.com/singapore/housing/record-261-million-dollar-hdb-flats-in-2021-resale-prices-rise-in-december-as-volume-dips Link to post Share on other sites More sharing options...
Jamesc Hypersonic February 13, 2022 Share February 13, 2022 Always buy freehold or 999 to avoid this problem. 4 2 Link to post Share on other sites More sharing options...
yishunite Turbocharged February 13, 2022 Share February 13, 2022 Most ppl need to live to 100+ to worry about whether 99 year lease expire... 😆 all these shitty articles designed as clickbait unless in your 20s you went and bought 60-years remaining 2nd hand flat ... this may be the only group that needs to care. Frankly if u live to 100+ it would be a sensational story for gahmen to kick u out ... confirm plus chop they will help just wont make a fortune on your next residence 1 Link to post Share on other sites More sharing options...
13177 Supersonic February 13, 2022 Share February 13, 2022 2 hours ago, Old-driver said: The mentality of singaporean is that the house you bought must make $$, and staying in it becomes secondary. Of course its a bonus if it does, but regardless you need a roof over your heads. 99-years can certainly last till one die unless you live to 130 years. So yes, why worry so much until your flat left 10 years. People worry that their flat when sell cannot profit and lose money. So if they buy the flat at $400k, when they sell later they must sell the flat above $400k. 4 1 Link to post Share on other sites More sharing options...
awhtc 6th Gear February 13, 2022 Author Share February 13, 2022 20 minutes ago, 13177 said: People worry that their flat when sell cannot profit and lose money. So if they buy the flat at $400k, when they sell later they must sell the flat above $400k. Also the impact on the CPF part... we might only start seeing the problem in about 10-20 years... More people couldn't fully repay CPF after selling property in 2020 [SINGAPORE] More people who used their Central Provident Fund (CPF) monies to pay their housing loans were unable to fully refund the amount after selling their properties in 2020, compared with the previous 2 years, data published by the CPF Board showed. However, not a single person who was unable to do a full refund was required to top up their CPF in cash that year, as the vast majority of these cases sold their property at market value, the CPF Board told The Straits Times. Home owners who sell their property at market value are not required to top up in cash if their selling price was not enough to fully refund the CPF monies used plus accrued interest. But this means that this group would have less CPF monies to tap for their next property or for retirement purposes, said the CPF Board. When home owners sell their property that was paid with CPF savings, they are required to refund the principal amount withdrawn, along with interest calculated at a rate of 2.5 per cent a year. In 2020, around 4,580 people were unable to fully refund the CPF monies used after selling their properties, compared with around 3,960 people in 2019 and 3,380 in 2018. https://www.businesstimes.com.sg/real-estate/more-people-couldnt-fully-repay-cpf-after-selling-property-in-2020 3 Link to post Share on other sites More sharing options...
Arogab Turbocharged February 14, 2022 Share February 14, 2022 13 hours ago, Jamesc said: Always buy freehold or 999 to avoid this problem. MIL is a freehold property😄 1 Link to post Share on other sites More sharing options...
Arogab Turbocharged February 14, 2022 Share February 14, 2022 Has anyone's flat got to 99 years lease yet? How many flats are now left with only 40 years lease? If you are 50 and lease got 40 years left. just live till 90 lor😁 1 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic February 14, 2022 Share February 14, 2022 20 hours ago, awhtc said: Will my HDB flat be worth $0 when the lease expires? Probably one of the biggest questions most HDB buyers have is: What happens when the 99-year lease is up? Does it just go down to zero? Or will you have an option of extending the lease? A recent discussion on Reddit focused on this very question and on some possible alternatives. It's an especially pertinent question at this point in 2022, with resale flat prices at record highs, and no less than 259 flats selling for $1 million or more last year. Have Singaporeans truly processed the significance of the 99-year lease limit; and is there a better way? https://www.asiaone.com/money/will-my-hdb-flat-be-worth-0-when-lease-expires Will my COE be worth zero when it expires? muayhahahahahaha option of extending lease if available, pay the market at that point in time. No different from COE lah. 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic February 14, 2022 Share February 14, 2022 12 hours ago, awhtc said: Also the impact on the CPF part... we might only start seeing the problem in about 10-20 years... More people couldn't fully repay CPF after selling property in 2020 [SINGAPORE] More people who used their Central Provident Fund (CPF) monies to pay their housing loans were unable to fully refund the amount after selling their properties in 2020, compared with the previous 2 years, data published by the CPF Board showed. However, not a single person who was unable to do a full refund was required to top up their CPF in cash that year, as the vast majority of these cases sold their property at market value, the CPF Board told The Straits Times. Home owners who sell their property at market value are not required to top up in cash if their selling price was not enough to fully refund the CPF monies used plus accrued interest. But this means that this group would have less CPF monies to tap for their next property or for retirement purposes, said the CPF Board. When home owners sell their property that was paid with CPF savings, they are required to refund the principal amount withdrawn, along with interest calculated at a rate of 2.5 per cent a year. In 2020, around 4,580 people were unable to fully refund the CPF monies used after selling their properties, compared with around 3,960 people in 2019 and 3,380 in 2018. https://www.businesstimes.com.sg/real-estate/more-people-couldnt-fully-repay-cpf-after-selling-property-in-2020 Aiyah for these people no need to top up lah, they already so fu(ked up by not being able to even cover CPF with the sale of property. Ha ↡ Advertisement Link to post Share on other sites More sharing options...
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