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Serious Marine Parade HDB Flat With 51-Year Lease Sold For S$1.01 M, COV nearly $100k!! Got 3 Interested Buyers! HDB Flats Really Appreciate Forever!

syed putra

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China PR will buy only freehold properties. Its something they can never imagine. A house that belongs to owner forever.
I heard they are flooding Bangkok buying up whatever homes they can get as bangkok is such a welcoming place for foreigners.
 

eatshitndie

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China PR will buy only freehold properties. Its something they can never imagine. A house that belongs to owner forever.
I heard they are flooding Bangkok buying up whatever homes they can get as bangkok is such a welcoming place for foreigners.
are they neighbors with @Froggy now?
 

Peace Maker

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Everything we do in life is taking risk, marrying, buying a house / flat , getting a car, keeping a pet, hiring a maid. It is up to our own ability & judgement so long we enjoy what we do. Risk taking is part of our lives, nobody knows how long we can live, so make the best use of it while we can as long as don't leave the burden to others.
 

eatshitndie

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Asset
Everything we do in life is taking risk, marrying, buying a house / flat , getting a car, keeping a pet, hiring a maid. It is up to our own ability & judgement so long we enjoy what we do. Risk taking is part of our lives, nobody knows how long we can live, so make the best use of it while we can as long as don't leave the burden to others.
that’s why when chiobu milf likes you must pump. can eat don’t waste.
 

Loofydralb

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Stupid idiots never learn. Those flats are built on reclaimed land with piles going deep into saltwater saturated seabed.

Have they not heard of the condo collapse in Florida?
 

LordElrond

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Generous Asset
Must be some Honkie morons. Something similar would have costs more in HK with 35 years lease left.
 

Boliao

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Wrong comparison bro.

Marine Parade point block is a standard 5-room unit; not a jumbo 5 bedroom unit. Meaning: it has only 3 bedrooms and a living room. There is a whole list of condo (with facilities and security) you can choose from along East Coast for less than $4,500. 5-room units are abundant around Singapore and none of them rents for more $3,000. Anyone who thinks $4,800 is a fair price to rent a standard 5-room HDB (especially in Yishun) is as smart and financially trained as the buyers *facepalm*

FYI. There are very few jumbo units in Singapore - those with 5 bedrooms. They can only be found in Yishun and Tampinese. For the same price, they could have bought a similar unit at Neptune court, just 1-2km farther towards Bedok. It's not as close to amenities but it's privatised and has a high chance to be en-block.
 
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eatshitndie

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Stupid idiots never learn. Those flats are built on reclaimed land with piles going deep into saltwater saturated seabed.

Have they not heard of the condo collapse in Florida?
moreover, concrete structures these days are built with portland cement with lower c2s content and higher specific surface. older concrete structures were built with portland cement that had high c2s content and low specific surface, and their strength and durability were rated proportional to logarithm of age up to 50 years. latter builds with newer cement reach peak strength at 25 to 30 years, and thereafter undergo retrogression of strength. the water-cement ratio in the concrete mix also plays a factor during construction. modern concrete buildings in u.s. are subject to structural inspection and safety tests at 40 years old. there’s a scientific and engineering reason why. the collapsed condo in florida was overdue for evaluation when it failed. good luck to modern concrete highrises after 50 years.
8C63890D-C612-457F-B9BF-634C1AA1923A.png
 
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sweetiepie

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moreover, concrete structures these days are built with portland cement with lower c2s content and higher specific surface. older concrete structures were built with portland cement that had high c2s content and low specific surface, and their strength and durability were rated proportional to logarithm of age up to 50 years. latter builds with newer cement reach peak strength at 25 to 30 years, and thereafter undergo retrogression of strength. the water-cement ratio in the concrete mix also plays a factor during construction. modern concrete buildings in u.s. are subject to structural inspection and safety tests at 40 years old. there’s a scientific and engineering reason why. the collapsed condo in florida was overdue for evaluation when it failed. good luck to modern concrete buildings after 50 years.
View attachment 151768
Portland cement ?
They should build with portland timber
Screenshot_20220709-084456_Chrome.jpg
 

Boliao

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China PR will buy only freehold properties. Its something they can never imagine. A house that belongs to owner forever.
I heard they are flooding Bangkok buying up whatever homes they can get as bangkok is such a welcoming place for foreigners.

Don't think they can buy land in Thailand but yes, many are moving to Chiangmai area but it's a part of the larger group of Chinese running away from China after making tonnes of money from properties. Chinese digital currency and many monetary policies is making it much harder for corruption and those who have done so need to run road with their money or risk getting caught and unable to explain the origin of their wealth.
 

Boliao

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Loyal
it would be double jeopardy (and comedy) if so called “retiree” couple who bought the flat were told a few years down the road that the marine parade block would be up for sers en bloc and they must pack up and move to somewhere else without the sea view. worse if they have to cough up a few hundred grands for a new flat. and if offered another 50-year old flat it may be in an undesirable area. at least with older private condos by the sea, there’s profit to be made with an en bloc sale. and buy another private condo by the sea.

This is actually very probable! Point blocks are deemed to be a luxury and a waste of land and space in Singapore; very likely to be selected for SERS. I wonder what will happen if 2-3 years down the road, they are told to move. Based on the latest example/ calculation (from the gov), their unit is worth less than $500,000. Will the banks asked them to pay up in full?

:roflmao: Looking at this again, I wonder how the buyer will feel when they realised this. It's like buying a car, you lose 50% of the value the day you sign the deal.
 

eatshitndie

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Asset
This is actually very probable! Point blocks are deemed to be a luxury and a waste of land and space in Singapore; very likely to be selected for SERS. I wonder what will happen if 2-3 years down the road, they are told to move. Based on the latest example/ calculation (from the gov), their unit is worth less than $500,000. Will the banks asked them to pay up in full?

:roflmao: Looking at this again, I wonder how the buyer will feel when they realised this. It's like buying a car, you lose 50% of the value the day you sign the deal.
that's why i think it's a red herring to mention the couple as "retirees" who they infer as willing to live out their lives with a shorter lease. it just doesn't pass mustard for old property hacks like us. for a tiong buyer with cash to park, a shorter lease but with a sea view is understandable as leases in prc are 70 years. by the time their kids go to university leases are already down to 50 years. moreover, tiongs prefer to park their cash in hard assets like properties than stash cash in the bank. the real buyer may be hongkie too, trying to evade foreigner stamp duty.
 

JohnTan

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Generous Asset
you change occupation to property agent?.........

I'm a property investor. Oppies wanted to grow their wealth by investing in the stock market, bitcoin or ostrich farms. I recommended investing in CPF or the local property market instead. On both counts, I was proven right. Their wealth would have appreciated if they followed my advice.
 

myfoot123

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Asset
The buyers understand the lease concept?
It's like marrying a 50 year old LCB with no much mileage left and you threw in a 100 table dinner.
The proposed party is a 70yo lao uncle. If you give him Zoe Tay, for the rest of his life, he sure grab lah. Money no issue if he is rich.
 

myfoot123

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Asset
I'm a property investor. Oppies wanted to grow their wealth by investing in the stock market, bitcoin or ostrich farms. I recommended investing in CPF or the local property market instead. On both counts, I was proven right. Their wealth would have appreciated if they followed my advice.
You should invest in oppie, I forsee WP will be the next government in the forseeable future. Lian Po Po is the final nail to PAPPY coffin.
 
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