Chitchat HDB Resale Price Affected - Not all older flats eligible for en bloc (SERS)

[Kakamora]

Minister for National Development Lawrence Wong said on Friday (Mar 24) that he was "concerned" over the idea that some home buyers in Singapore were forking out high prices for older public flats expecting to benefit from the Selective En bloc Redevelopment Scheme (SERS).

"So please do not assume that all old HDB flats will be automatically eligible for SERS."

Mr Wong said only four per cent of HDB flats have been identified for SERS since it was launched in 1995 and authorities continue to maintain strict selection criteria for the scheme.

He also pointed out that when the leases for HDB flats run out, they have to be returned to the state eventually and that as flats near the end of their lease periods, their prices come down correspondingly.

 

[Kakamora]

Re: HDB Selective En bloc Redevelopment Scheme - Not all older flats eligible for en

The Singapore Dream is broken.

HDB resale price going crash because of this clarification.

 

[AhNehs]

property agents are the bastards spreading rumours that chenghu will enbloc old HDB flats. now let's wait for those old flats that are 30 years old and above to crash.. altogether just ah!

 

[Kakamora]

property agents are the bastards spreading rumours that chenghu will enbloc old HDB flats. now let's wait for those old flats that are 30 years old and above to crash.. altogether just ah!

It has always been implied that HDB flats will not be zero value at Year 99 and without a specific sinking management fund like condo MSCT (not town council), many flats cannot last until Year 70 without substantial A&A.

 

[JohnTan]

Who cares? The first buyers of the HDB flat often sell within the first 10 years of occupancy and laugh their way to the bank louder than the PAP government. The second round buyer has another chance to sell off at a huge profit in the 11th - 25th year of occupancy. The third round buyer should get a chance to buy low but probably has to be prepared to buy the apartment to stay until the lease runs out.

 

[Kakamora]

Who cares? The first buyers of the HDB flat often sell within the first 10 years of occupancy and laugh their way to the bank louder than the PAP government. The second round buyer has another chance to sell off at a huge profit in the 11th - 25th year of occupancy. The third round buyer should get a chance to buy low but probably has to be prepared to buy the apartment to stay until the lease runs out.

Towkays like Mr John Tan also vested in HDB??

 

[JohnTan]

Towkays like Mr John Tan also vested in HDB??

I used to be. My family wasn't always rich. My wife and I once bought HDB flats too. We sold it off at a huge profit within the first ten years of staying in one.

 

[Kakamora]

I used to be. My family wasn't always rich. My wife and I once bought HDB flats too. We sold it off at a huge profit within the first ten years of staying in one.

You so rich now, will you still let your children buy HDB slums? Got preferential balloting number for your undying participation at grassroots?

 

[frenchbriefs]

what is the average age of hdb flats nowadays,the average age of hdb flats cant be getting younger and younger.what percentage of hdb flats are older than 10?30?40?

99 year lease is a joke,there should be a serious degradation in the flat value after 40 or 50 years.who the hell wants to stay in a hdb flat thats 50 years old,not like its made of victorian architecture,tudor or renaissance.its just a rusty lump of spalling concrete and rusty metal like a aircraft thats 50 years old.

 

[JohnTan]

You so rich now, will you still let your children buy HDB slums? Got preferential balloting number for your undying participation at grassroots?

I would. Buying cheap HDB BTO flats and selling them off at a huge profit is a sinkie national right. Besides, if my children want to upgrade to condo or private housing like I did, the huge profits from selling off their HDB BTO would come in handy.

 

[frenchbriefs]

Who cares? The first buyers of the HDB flat often sell within the first 10 years of occupancy and laugh their way to the bank louder than the PAP government. The second round buyer has another chance to sell off at a huge profit in the 11th - 25th year of occupancy. The third round buyer should get a chance to buy low but probably has to be prepared to buy the apartment to stay until the lease runs out.

i want my bite of the cherry pie too,this priviledge should be accorded only to first time buyers.i will proudly serve my NS if PAP grants me a BTO before 35.

 

[Bonut]

If Chenghu going to enblock your old HDB block, who decides on the compensation? With private or semi-private, at least the co-owners can bargain with developers. But this is HDB vs HDB leh. No ?

 

[nayr69sg]

Eventually this SERS will become an election issue. I predicted this back in 2004. When election time comes PAP will say vote for PAP and you get SERS. Vote opposition, your flats run out the lease and you get big fat ZERO.

And that papsmearer was trying to educate me about how 99 years lease property investments are as good as freehold because it will ALWAYS be redeveloped en bloc.

RUBBISH!

 

[JohnTan]

Eventually this SERS will become an election issue. I predicted this back in 2004. When election time comes PAP will say vote for PAP and you get SERS. Vote opposition, your flats run out the lease and you get big fat ZERO.

And that papsmearer was trying to educate me about how 99 years lease property investments are as good as freehold because it will ALWAYS be redeveloped en bloc.

RUBBISH!

It would only be an election issue for a small group of sinkies whose lease has run out or will run out in the following GE. That will happen in around 2050 or 2060 onwards. We still got many years to go.

 

[frenchbriefs]

It would only be an election issue for a small group of sinkies whose lease has run out or will run out in the following GE. That will happen in around 2050 or 2060 onwards. We still got many years to go.

well for you maybe,theres still got a many years to go,the future's not ours to see....que sera sera.

but what happens during our children or grandchildren generation,and all those hdb flats that were build during the 70s,80s and 90s are now rotting and dilapidated,will the government be en blocing them all?will the housing market bottom fall out?

 

[JohnTan]

well for you maybe,theres still got a many years to go,the future's not ours to see....que sera sera.

but what happens during our children or grandchildren generation,and all those hdb flats that were build during the 70s,80s and 90s are now rotting and dilapidated,will the government be en blocing them all?will the housing market bottom fall out?

Something would only happen to the losers who inherited the first generation of HDB flats. They are our version of sinkie losers, pretty much like the American version of the losers who stay in their parent's basement instead of moving out when they reach adulthood.

When my kids grow up and get married, I expect them to fuck off from my bungalow and start their own life in their BTO flats. If they continue to succeed in their professional lives, they can sell off the BTO and move up a more luxurious home. Otherwise, be content to stay in their BTO until they pass on. And the cycle repeats itself for their own kids.

Even for singleton losers, most of them I know aspire to buy their own HDB apartments once they are above 35 years old. They too don't wish to remain forever with their parents unless they are underachievers. In most societies, voters don't have much patience for underachievers. We expect voting adults to be able to take care of themselves.

 

[bushtucker]

oh please. gone are the glory days of getting a huge profit from en-bloc CONDO sales.

HDB SERS program uses the "en-bloc sales" in name to attract ignorant buyers but the profit is pittance for these recent buyers.

The real profiteers would be those who bought HDB in the late 70s/early 80s for $30k-$60k and stayed on for 30+ years until fortunately HDB has chosen their estate for SERS.

 

[JohnTan]

oh please. gone are the glory days of getting a huge profit from en-bloc CONDO sales.

HDB SERS program uses the "en-bloc sales" in name to attract ignorant buyers but the profit is pittance for these recent buyers.

The real profiteers would be those who bought HDB in the late 70s/early 80s for $30k-$60k and stayed on for 30+ years until fortunately HDB has chosen their estate for SERS.

You can make good money from selling off your BTO on the resale market. No need to wait for en-bloc.

 

[frenchbriefs]

Something would only happen to the losers who inherited the first generation of HDB flats. They are our version of sinkie losers, pretty much like the American version of the losers who stay in their parent's basement instead of moving out when they reach adulthood.

When my kids grow up and get married, I expect them to fuck off from my bungalow and start their own life in their BTO flats. If they continue to succeed in their professional lives, they can sell off the BTO and move up a more luxurious home. Otherwise, be content to stay in their BTO until they pass on. And the cycle repeats itself for their own kids.

Even for singleton losers, most of them I know aspire to buy their own HDB apartments once they are above 35 years old. They too don't wish to remain forever with their parents unless they are underachievers. In most societies, voters don't have much patience for underachievers. We expect voting adults to be able to take care of themselves.

thats not my point though,my point is what will happen to the market value of all these hdb flats that have reached close to the end of their physical lifespans?right now most of our hdb flats are still relatively young in their 20s and 30s and 40s.what happens in 2047 when a large percentage of hdb flats are in their 40s and 50s and 60s.and their physical lifespan are even shorter,what part of the bell curve are we playing with then?what prices will these hdb flats be trading at.who would want to buy these junk?and if there are no buyers will the market collapse?

 

[kryonlight]

what happens in 2047 when a large percentage of hdb flats are in their 40s and 50s and 60s.and their physical lifespan are even shorter,what part of the bell curve are we playing with then?what prices will these hdb flats be trading at.who would want to buy these junk?and if there are no buyers will the market collapse?

Singapore will cease to exist in 2047 when I take my last breath. All these questions will be inconsequential.