Serious Do you have HDB flat? No need go JB, you can retire in Spore now.

[frenchbriefs]

On the contrary, they maybe thinking they are doing everyone a favour, as the thought process could be the longer leasehold properties is, the lower value it get, especially with the fact that bank isn't able to make loans for property that is left with certain number of years of lease, especially for hdb flats.

Straight line depreciation......albeit in descending order.....

have u seen anybodys hdb flat depreciate in price?the entire sg housing market is in a bubble.....if ur hdb is declining in price i think its time to move ur old ass out of there and sell on the market long ago,u must have lived there for more than half a century.

 

[lifeafter41]

have u seen anybodys hdb flat depreciate in price?the entire sg housing market is in a bubble.....if ur hdb is declining in price i think its time to move ur old ass out of there and sell on the market long ago,u must have lived there for more than half a century.

It remains to be seen for those mature estate where the lease is less 60 years old.
I can't recall where is the oldest estate though, could it be tiong bahru or toa payoh.....

 

[ginfreely]

this whole thing is so fishy,after u sold part of the lease back to the government,what is the actual lease life of the hdb flat left?can hdb resell the flat on the market?what determines the lifespan of a hdb flat?

and this sounds like a losing transaction for the flat owner......in exchange for a certain sum,the owner gets to stay in the flat for another X amount of years....lets say the 4 room flat owner decides to keep 20 years of his lease,he gets $1k per month X 12 months X 20 years =$240k,after which the government gets ur flat.....essentially the government will never lose,since they are buying ur flat for cheap below the market price and letting u stay for another 10 or 20 years.......and this 240k does not account for inflation and devaluation of currency and purchasing power......since it is paid over the length of 20 years,and not a lump sum upfront payment of 240k today......$1000 in the future is worth much much less than $1000 today,currency loses approximately 33 percent of its value every 20 years......which is like another discount over time for the PAP.....who knows if u wanted to sell ur 4 room flat 10 years later,4 room flats could be worth 500k by then assuming 5 percent inflation in housing per year.and u lost out on another 150k of value.....thats another 150k into PAP's pockets.

I heard from the news yesterday this 68 year old man chose to retain 35 years of his lease. So it's 1k x 12 months x 35 years = $420k. Not sure whether their children get any balance if they die before that?

 

[ginfreely]

Yes, he should have rent out his place/ or 1 room for the rental.
Why want to go for LBS.

This scheme is for people who don't want to move out of familiar surroundings and want to retire in spore. He can still rent out one room on top of LBS.

 

[frenchbriefs]

I heard from the news yesterday this 68 year old man chose to retain 35 years of his lease. So it's 1k x 12 months x 35 years = $420k. Not sure whether their children get any balance if they die before that?

I think u get lesser if u keep more of ur lease,doesnt make sense if u keep 20 years of ur lease and u get lesser than someone keeping 35 years of the lease.

 

[kkbutterfly]

born nothing die with empty.good lah
majula

only group who benefit from are single without kids.

 

[ginfreely]

He should, after selling part of the lease, collect $1000 from the government and continue to sublet his flat to foreigners, and move to J B.

Seriously don't know is one thing, but if you already know "johoreans especially hate Sporeans", why should he still want to move to JB?

http://sammyboy.com/showthread.php?...t-Johoreans-especially-hate-Singaporeans-quot

 

[KuanTi01]

this whole thing is so fishy,after u sold part of the lease back to the government,what is the actual lease life of the hdb flat left?can hdb resell the flat on the market?what determines the lifespan of a hdb flat?

and this sounds like a losing transaction for the flat owner......in exchange for a certain sum,the owner gets to stay in the flat for another X amount of years....lets say the 4 room flat owner decides to keep 20 years of his lease,he gets $1k per month X 12 months X 20 years =$240k,after which the government gets ur flat.....essentially the government will never lose,since they are buying ur flat for cheap below the market price and letting u stay for another 10 or 20 years.......and this 240k does not account for inflation and devaluation of currency and purchasing power......since it is paid over the length of 20 years,and not a lump sum upfront payment of 240k today......$1000 in the future is worth much much less than $1000 today,currency loses approximately 33 percent of its value every 20 years......which is like another discount over time for the PAP.....who knows if u wanted to sell ur 4 room flat 10 years later,4 room flats could be worth 500k by then assuming 5 percent inflation in housing per year.and u lost out on another 150k of value.....thats another 150k into PAP's pockets.

This is a win-win situation for the PAP! We pay and pay, they profit and profit!

 

[GoldenDragon]

It remains to be seen for those mature estate where the lease is less 60 years old.
I can't recall where is the oldest estate though, could it be tiong bahru or toa payoh.....

should be tiong bahru, built in the 50s by SIT.

 

[ginfreely]

should be tiong bahru, built in the 50s by SIT.

This is definitely prized asset. One unit asking $1.2m. Almost 50 years old and one bedroom only.

http://www.propertyguru.com.sg/prop...0648/1-2-million-tiong-bahru-flat-up-for-sale

 

[lifeafter41]

This is definitely prized asset. One unit asking $1.2m. Almost 50 years old and one bedroom only.

http://www.propertyguru.com.sg/prop...0648/1-2-million-tiong-bahru-flat-up-for-sale

Question is, was it sold?. At 49 years lease, will banks make the loan out. Of course, if d/p at 80%, of course most bank will clamor to make the loan. However, if on conventional case, d/p at 20%, loan at 80% will be different.

 

[ginfreely]

Question is, was it sold?. At 49 years lease, will banks make the loan out. Of course, if d/p at 80%, of course most bank will clamor to make the loan. However, if on conventional case, d/p at 20%, loan at 80% will be different.

I have no idea leh. But the article got say other units going for 900k that area. I never buy HDB flat before so I don't monitor but I know it's a prized asset!