What Difference? HDB 99 years and Private Condo 99 years?

[xebay11]

40 years of HDB con and swindle and still no one on this forum can answer this TS's question. Sinkies are damn pathetic, they deserved to get fucked by the PAP.

The answer to the TS question is that one is a form of ownership and the other is a long term rental agreement.

A leasehold 99 year private condo means that the improvements on the land (the whole building itself) belongs to the owners of the individual units but the land belongs to someone else. In singapore's case, some private condo land is owned by the govt. and some are owned by the various private land development companies. At the expiration of the 99 year lease, the land reverts back to the landowner, with or without the improvements, depending on how the lease is written. If the land reverts back without improvements, the owners of the units have to demolish the building and give the land back to the owner in the condition it was first leased out. This will all be negotiated in the lease. The advantage with the leasehold is that owners actually own the physical unit they live in. If all the owners decide to do a self-enbloc, they can in theory tear the building down and build a higher density (taller) building with more units and sell it. The new buyers will have the balance of the 99 years original lease.

For a HDB flat, the 99 years refer to lease agreement, not a leasehold. Its no different that if you lease a car for 5 years. You don't own it, you are just renting it for the long term. Except in the case of the HDB lease, the HDB requires you to prepay for rent 99 years in advance. normally when you rent a flat, it is usually for a 1 year term and each month's rent is paid when its due. You would never agree to pay a flat rental 1 year in advance, yet people willingly pay for their HDB flat 99 years in advance.

The difference lies in other areas too. For example, HDB has no intention of honouring their 99 year lease. The quality of the construction does not allow it to last for 99 years. Also, HDB has so many clauses in their lease agreement that they can easily move you out before 99 years on the pretext that they are tearing down your block and move you into more expensive newer "upgraded" flats through SERS. This is usually not possible in a leasehold private condo because the law is quite specific on this part, and since the landowner does not own the building, he cannot force the owners to move out and tear it down for a higher density building.

I hope this clears up the TS's question.

In this case HDB is better, since they keep "upgrading you" it becomes as good as freehold isn't it? And who says construction quality is no good? These days materials used for construction of HDB go through much more stringent QC checks than private property.

 

[Papsmearer]

In this case HDB is better, since they keep "upgrading you" it becomes as good as freehold isn't it? And who says construction quality is no good? These days materials used for construction of HDB go through much more stringent QC checks than private property.

Are u a fucking retard or something? The "upgrade' is free, is it? Must pay, ok? They take your flat back, and say they will upgrade you to new flat in another new estate, they ask you for top up money. You think they give you one flat for one flat exchange basis?

 

[Papsmearer]

Sir, you are a very intelligent man to be able to figure out correctly, ups you.

thank you very much.

 

[Papsmearer]

The difference between a 99 years condo and HDB are quite clear-and mostly lies in the managing and use of the estate.


[/B] ?

.

Obviously, you still don't know what the difference is, if you think it lies in the managing and use of the estate.

 

[Papsmearer]

they can even demolished the whole estate as the like if you voted opposition, take Hillview Ave Estate for example.

Cant believe the Hillview Ave voters gave them a chance to repent but they betrayed them. PAP are sick people.

that's right, and with a leasehold 99 year condo, they cannot do that as there is no provision in the leasehold agreement for such an action. whereas in the HDB lease agreement, it says that as the landlord, they can move you out into another unit somewhere else and do what they want to your old flat. remember a couple of years ago, they threw out the HDB dwellers of 2 blocks of flats and than rented them out to FT workers? All this cannot be done with a 99 year leasehold condo, hence, this form of ownership is more valuable, and you pay more for it.

 

[Debonerman]

Obviously, you still don't know what the difference is, if you think it lies in the managing and use of the estate.

Can you recalled what retort Bill Gates gave to the high level PAP government official when he tried to bullshit Gates that Sinkies own their flats?

 

[Papsmearer]

Everyone know's this lah.
At least most do.

It's just that no one can be bothered to type out such a long response over an annonymous sex forum like this.

Nobody ask you to read it. If the post is too long and is hurting your brain, don't read it than.

 

[xebay11]

Are u a fucking retard or something? The "upgrade' is free, is it? Must pay, ok? They take your flat back, and say they will upgrade you to new flat in another new estate, they ask you for top up money. You think they give you one flat for one flat exchange basis?

Usually the upgrade is very low cost and for another 99 years, why the hell not? Cannot afford? Sell it to some youngster who can. You think PC owners even have the chance to extend the lease?