andycui 0 Report post Posted March 2, 2008 Dear everyone, I am a first timer looking for a flat currently. I saw some 30 or 40 years old flats in resale markets. So I wonder if I buy these flats, then 99-40= only 54 years for me rite? But why these flats are still that expensive, how much does the lease commencemetn date affect the choice of the flat? If these blocks are chosen to be en Block, we still have 99 years for the comsensated new flat? I am glad to hear your advice. Thanks. Share this post Link to post Share on other sites
keltong 4 Report post Posted March 2, 2008 Dear everyone, I am a first timer looking for a flat currently. I saw some 30 or 40 years old flats in resale markets. So I wonder if I buy these flats, then 99-40= only 54 years for me rite? But why these flats are still that expensive, how much does the lease commencemetn date affect the choice of the flat? If these blocks are chosen to be en Block, we still have 99 years for the comsensated new flat? I am glad to hear your advice. Thanks.* below are just my personal opinion *Usually flat start to lost their value more quickly when they cross 30years. However, some estate are so popular that even those 30-40 years flat are still selling at crazy (at least that's how I feel) prices. The older the flat, the higher chances it will get en-bloc since Singapore is constantly on renewal. But it does not guarantee it will be anytime soon. Much also depends on the location, the surrounding, and how much land area it can yield. My personal feel is that if it's an exclusive area with very few blocks the chances of getting en-bloc soon will be less likely (but doesn't mean it will not) than those bigger estate with similar old flats. Reason is it gives more room for redevelopment.If you are the lucky one that your old flat got redevelop, you will not only get a new flat at better prices, what I understand it will not count as 1 chance of getting direct HDB flat since you are in a way 'force' to move. !! Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted March 2, 2008 Dear everyone, I am a first timer looking for a flat currently. I saw some 30 or 40 years old flats in resale markets. So I wonder if I buy these flats, then 99-40= only 54 years for me rite? But why these flats are still that expensive, how much does the lease commencemetn date affect the choice of the flat?HDB flat will never be standing for the full 99 years lah. The price of the flat is determined by many factors and the remaining lease is only one of them. A key factor to determine the valuation price is the comparison of the surrounding flats' transacted prices + currently-selling prices.If these blocks are chosen to be en Block, we still have 99 years for the comsensated new flat? I am glad to hear your advice. Thanks.Yes, the replacement flat will have another 99 years. HDB will acquire your flat under SERS (enbloc) and compensate you accordingly, then you will go choose a new flat; its considered two separate transactions, although some regulations like number of HDB loans, income cap, pricing, etc will be tweaked to assist the owners of SERS flats.---Although most people who own SERS flats do not lose out after the annoucement, there are cases where some become worse off. And you are toeing the line here because usually people who suffered after their flats are announced for SERS are those who bought very near to the annoucement date at high prices, then spend a bomb to renovate it. Speaking of reno, say for two similiar units, one with nice reno and one original condition, the SERS valuation does not varies alot, at most a few thousand dollars.So my personal opinion is this: If you really suspect the flats are going to be announced for SERS, but still asking for high prices, better stay away. Share this post Link to post Share on other sites
