The ticking time bomb of the 99-year-leasehold HDB flats

[Johnrambo]

About 70,000 flats (of the 1-million HDB flats) are more than 40 years old, and almost 10 percent of flats will face lease expiry in 50 years. The Minister’s announcement essentially means that such flats will have zero value once it reaches 99 years and owners will have to vacate their homes. Most owners will see the land their flat was on being returned to the State at the end of the 99-year-leasehold.


The letter writer said that “many seniors who want to downgrade to Built-To-Order studio apartments for the elderly are in a fix as they are unable to sell their old flats”, and that many such seniors “stand to lose their deposits on their new flat if they cannot sell their old flat.”

More at https://shrtcô.de/5eNJUH

 

[syed putra]

Gomen can easily announce extension of lease for a fee. Even more money to be made as no need to build anything.

 

[borom]

This is a problem where they keep on ' kicking the can down the road"
I am not even sure the structure can last 90 years esp with constant hacking and renovation by resale buyers -any civil engineers can enlighten us ?

 

[laksaboy]

If you don't own the land, you own nothing.

Your land = you can build and grow anything you want, you decide who gets to enter your land.

 

[Hypocrite-The]

All hdb flats should be en-bloc when lease is up...simple reason In another 20 years etc those flats will be unsafe n the maintenance cost will be too uneconomical for HDB to continue maintaining.

 

[Hypocrite-The]

Landed hdb seems to be doing well..

https://mothership.sg/2021/06/whampoa-hdb-terraced-house-sold/

 

[mahjongking]

50 years later all of us not here already
the immediate problem is those flats too old, above lets say 60 years may collapse

 

[laksaboy]

50 years later all of us not here already
the immediate problem is those flats too old, above lets say 60 years may collapse

It'll be quite a laugh when the newer flats show defects and are crumbling while the older ones (built in 1970-80s) still stand strong.

 

[gingerlyn]

Foreigners such as CECA need new homes and how can they own homes if we own our homes forever ?

 

[millim6868]

Hdb now 10 yrs plus are already facing wall leaking during rain, take s look around ,u will see but town council all act blur cos contract company also own kaki, many still blur blur how things run,lol

 

[laksaboy]

Hdb now 10 yrs plus are already facing wall leaking during rain, take s look around ,u will see but town council all act blur cos contract company also own kaki, many still blur blur how things run,lol

Those must be the shitty newer flats, heavily outsourced to Tiong companies during their construction.

Flats can be categorized into two groups: before bomb shelter or after bomb shelter.

 

[Hypocrite-The]

It'll be quite a laugh when the newer flats show defects and are crumbling while the older ones (built in 1970-80s) still stand strong.

Which means the owners of the older flats will have less chance of en-bloc

 

[zhihau]

It'll be quite a laugh when the newer flats show defects and are crumbling while the older ones (built in 1970-80s) still stand strong.

Spallings are a common sight in old buildings.

 

[Cottonmouth]

Foreigners such as CECA need new homes and how can they own homes if we own our homes forever ?

Fuck these shitskin indians, they belong in the sewage Filthy animals.

 

[hbk75]

Sinkies now buying 500-600k hdb. Then drained out. Next time old think no money retire. confirm worst than current boomer generation

 

[JohnTan]

About 70,000 flats (of the 1-million HDB flats) are more than 40 years old, and almost 10 percent of flats will face lease expiry in 50 years. The Minister’s announcement essentially means that such flats will have zero value once it reaches 99 years and owners will have to vacate their homes. Most owners will see the land their flat was on being returned to the State at the end of the 99-year-leasehold.


The letter writer said that “many seniors who want to downgrade to Built-To-Order studio apartments for the elderly are in a fix as they are unable to sell their old flats”, and that many such seniors “stand to lose their deposits on their new flat if they cannot sell their old flat.”

More at https://shrtcô.de/5eNJUH

The ticking time bomb will go off in 99 years, as promised in the contract. Don't you read contracts before signing them?