both are right.
asset enhancement for the wooden and his gang
asset depreciation for the brainless.
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Khaw confirms HDB flats worth ZERO DOLLARS at end of 99-yr lease
- Thread starter Confuseous
- Start date
both are right.
asset enhancement for the wooden and his gang
asset depreciation for the brainless.
That's what a lease means. There has never been any ambiguity. It's the same if you lease a car or a piece of industrial machinery.
The advantage of a lease is you know the cost of the 99 year tenure up front so you can budget accordingly. If you rent accommodation, you sign a fixed term agreement and the landlord can redefine the terms after a couple of years and if you can't afford it, you have to move out.
many hdb owners think they wouldnt live until so long lor, never think for their next generation. Get brainwashed by gov and unwise too.
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Are you sure or not? Which bank will give you a loan if there is less than 65 years on the lease? If these people are buying 40 years old flat, they are likely paying cash. Doubly stupid.
Its like these people think no matter the number of years lease left when they are selling it, they confirm can sell it for a profit.
It depends on who owns the lease for the land. If a developer owns the land and it is a freehold, they can choose to give the condo buyers a 99 year lease instead of a freehold condo. Its done quite a bit here. than when another developer buys the whole land from the first developer, they are buying the actual freehold land, but they assume residual balance of the lease from the first developer. After that, the new owners can choose to wait out the leaseholders and eventually when the lease expires, all improvements on the land must be either removed or revert to the land owner. Usually, by a certain point, no banks will finance any of these condos because they are too old, in which case, the condos will devalue sharply. the owner of the land can at this time choose to make an offer to the owners and buy them all out. Than demolish the whole building and build a new one.
U are right. they don't realize that the value of their flat is closely linked to financing. If the bank's policy is that the flat is too old to be financed, than the value will fall sharply. No one can afford a high price for a flat if they have to pay cash. People don't realize that there are 3 timelines that dictate the value of their flat, and they have to look at all of them to decide whether to stay on sell.
First timeline is the residual period left on the lease - This is the calendar date of the age of the lease, and the clock starts ticking when you buy the flat and and counts down to 99 years.
Second is the financial timeline - If the flat is too old, prospective buyers cannot get a loan and hence the flat will lose value. It has nothing to do with whether the flat is in a poor condition, bad location, or anything like that. Its a purely financing issue. U will wake up one day, and guess what, its been 30 years already, and no banks will give a loan to allow people to buy your flat, even though nothing has changed and your flat is in pristine condition.
Third is the structural timeline - These flats were all designed with the cheapest materials and ease of construction. They are simply not build to last 99 years. There has been no history in Asia of any high rise like the type of HDB flats lasting 99 years. They are not build like the Empire state building in New York which is already 83 years old and still going strong. that was a well build building, and anchored on solid bedrock. we are basically sitting on top of a huge extinct volcano, and to build here, u have to pile drive like crazy. I would guess that The structural life of the older HDB flats are probably no more than 60 years. So, when choosing to whether to sell or not, you have to consider that if you stay too long, it may be unsafe. As a side note to this, HDB commits fraud with every flat they sell. they have no intention to honour the 99 year lease given to you simply because the flat is not designed to last that long.
wahahahha..see sinkies...
that is what i have been saying all these times..
the flat that you use 20 to 30 years to pay for mortgages, stress so hard at work to pay for the monthly mortgeges, die die cannot lose your job or else... and all other bullshits.
in the end, the whole time that you stress for it, the flat is not own by you.. sinkie, your ass pain or not...
that is what i have been saying all these times..
the flat that you use 20 to 30 years to pay for mortgages, stress so hard at work to pay for the monthly mortgeges, die die cannot lose your job or else... and all other bullshits.
in the end, the whole time that you stress for it, the flat is not own by you.. sinkie, your ass pain or not...
exactly, that is why it is better to move to another country ( such as Malaysia, just a causeway away) where you can buy real , free hold , respectable residence that you call it a place of your OWN
by the way, for the hard truth, many of my unsinkified friends has done so , getting a place in Malaysia..wahahhahah...
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FUCKTARD,
you think mudland no leasehold property is it? what an ignorant frog. :oIo:
http://www.propertyguru.com.my/resources/buy-property-guide/property-types-in-malaysia/14
There are three main types of land in Malaysia: freehold land, leasehold land and Malay Reserve land.
Freehold land: You can enjoy ownership in perpetuity. Perpetuity means that there is no time limit for the owner and the freehold land lies with the title holder until he transfers it to someone else. The owner of the land owns the land, the building and anything that is on the land. After which the land owner (which could be the state government or another enterprise) will take legal possession of it. Freehold is more preferable and fetches a higher price.
Leasehold Land: Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time. This type of land also belongs to the government and the least last up to 99 years. At the expiry of the term, the land reverts back to the government. The lesser the number of years left on the lease, the less valuable the land becomes.
Malay Reserve Land: Malay Reserve Land is land that cannot be sold to other races, even foreigners except for Malays or Bumiputras. In conventional sense, it is generally considered that all Malays are Bumiputras and that all Bumiputras are Malay. It is land exclusively meant for Malays and Bumiputras. This type of land posted lower investment return as compared to freehold and leasehold property as it can only be transfer among Malays and Bumiputras and limit its marketing prospects.
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There is a choice if you can choose leasehold property or not..but for most who wanted to have families, they would prefer free hold and it is in abundance in Malaysia.
leasehold property is not a popular choice as resale value is not good. are freehold property in abundance in sinkieland...face the hard truth sinkies..
Life is about choices,, when you dun have choices, like the pathetic sinkies, you can only raise up your ass to be screwed.
FUCKTARD,
Lan cheow to you. Singapore no FH property to buy is it? :oIo:
Poor fucks like you can only own property be it LH or FH after your death. That is the paper version. :oIo:
How now? Have to admit you are fucking wrong is it? Mudland got LH or not
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