Serious Price Collapse For 40 Years-Old HDB Flats! Buy!

[Papsmearer]

99 year condo enbloc is a possibility.

99 year en bloc is possible, but if u look at the stats, less then 50% of attempted enblocs have succeeded. Prominent failures include Horizon Towers.

 

[Papsmearer]

Papsmearer will say it is a CERTAINTY. I beg to differ.

I see u are still putting words in my mouth, you dumb cunt.

 

[Truth_Hurts]

99 year en bloc is possible, but if u look at the stats, less then 50% of attempted enblocs have succeeded. Prominent failures include Horizon Towers.

Guess property price going up is a risk....if enbloc..lucky.
No enbloc..than it becomes a coffin..but all in all..if buy a property for living and pay it off...and got employment half the battle for finan freedom is won...to me a house is to live in and expenses minimal..

 

[ginfreely]

And the gahmen sure will extend the lease for the developer..so big connected boys always win

Ya as long as can find a developer to buy enbloc, govt sure will extend the 99 year condo lease. No reason to not extend at all.

 

[Truth_Hurts]

Ya as long as can find a developer to buy enbloc, govt sure will extend the 99 year condo lease. No reason to not extend at all.

Looks like a 10million popn is what the Pappies needs to keep prices up

 

[Papsmearer]

Ya as long as can find a developer to buy enbloc, govt sure will extend the 99 year condo lease. No reason to not extend at all.

This is where the developer has to be careful. They are in a balancing act. On one hand, they have to negotiate the lowest possible price with the owners for the enbloc. And at the same time, they have to get a good feeling of what the govt will charge to top up the 99 year lease. If either one of the 2 is too expensive, they cannot do the deal and will walk away. And at the same time, they have have to do a price and demand projection for their completed units in 5 years or more. And hope that the market will be strong when they sell it. The problem is that the big China developers don't necessarily look at the ability to sell when its completed. They can wait out a market downturn and pay the QC fees. their main objective is to get their money out of china. If they make good profit after that, its a bonus.

 

[Papsmearer]

Looks like a 10million popn is what the Pappies needs to keep prices up

My read on this is that the 10 million will happen whether we like it or not. But I can see only 1 million more quality type rich people or educated people with money. The rest will be leeches and 3rd world country dorm workers and people of that ilk. Ask yourself, if you were one of the wealthy, why would u come to over crowded singapore with 10 million people, very expensive, and filled with 3rd world FTs? U might as well stay in china or where ever u are. Singapore is barely livable as it is, and with 10 million, it will be unlivable. If rich people want to stay in crowded place, they might as well go to NYC or Beijing. This relates to the property market here because they are the ones that can afford to buy the private condos, those that have build from an enbloc. The rest cannot even afford a HDB flat.

 

[JohnTan]

My read on this is that the 10 million will happen whether we like it or not. But I can see only 1 million more quality type rich people or educated people with money. The rest will be leeches and 3rd world country dorm workers and people of that ilk. Ask yourself, if you were one of the wealthy, why would u come to over crowded singapore with 10 million people, very expensive, and filled with 3rd world FTs? U might as well stay in china or where ever u are. Singapore is barely livable as it is, and with 10 million, it will be unlivable. If rich people want to stay in crowded place, they might as well go to NYC or Beijing. This relates to the property market here because they are the ones that can afford to buy the private condos, those that have build from an enbloc. The rest cannot even afford a HDB flat.

What the fuck are you talking about?

There is a healthy demand for HDB resale flat with leases of around 70 years left. People are willing to up over $1 million for a flat in a central location like Queenstown.

A HDB resale executive apartment at Block 148 Mei Ling Street in Queenstown, which has a balance lease of about 76 years, was sold this month for an eye-popping $1.08 million, which works out to about $669 psf on the built-up area.

The 1,615 sq ft corner unit located on the 13th floor is close to Queenstown MRT station and Anchorpoint mall.

More: Geylang HDB Flat With City Views Sold For $910,000

It is understood that the sellers have been staying there since 1995 and plan to upgrade to a nearby condominium.

ERA Realty property agent Mohamed Ameen helped broker the sale. He revealed that the unit was listed on PropertyGuru with an asking price of $1.1 million for less than two weeks.

More than five groups of buyers viewed the flat during this period before it was sold to a Singaporean woman who was looking to downgrade after her house went en bloc.

https://www.propertyguru.com.sg/pro...for-1-08m-more-record-breaking-deals-expected

 

[ginfreely]

This is where the developer has to be careful. They are in a balancing act. On one hand, they have to negotiate the lowest possible price with the owners for the enbloc. And at the same time, they have to get a good feeling of what the govt will charge to top up the 99 year lease. If either one of the 2 is too expensive, they cannot do the deal and will walk away. And at the same time, they have have to do a price and demand projection for their completed units in 5 years or more. And hope that the market will be strong when they sell it. The problem is that the big China developers don't necessarily look at the ability to sell when its completed. They can wait out a market downturn and pay the QC fees. their main objective is to get their money out of china. If they make good profit after that, its a bonus.

If China developers have money to buy water space in JB to reclaim land to build condo there, they definitely have money to buy enbloc land here. Small deal to their deep pockets!

 

[ginfreely]

My read on this is that the 10 million will happen whether we like it or not. But I can see only 1 million more quality type rich people or educated people with money. The rest will be leeches and 3rd world country dorm workers and people of that ilk. Ask yourself, if you were one of the wealthy, why would u come to over crowded singapore with 10 million people, very expensive, and filled with 3rd world FTs? U might as well stay in china or where ever u are. Singapore is barely livable as it is, and with 10 million, it will be unlivable. If rich people want to stay in crowded place, they might as well go to NYC or Beijing. This relates to the property market here because they are the ones that can afford to buy the private condos, those that have build from an enbloc. The rest cannot even afford a HDB flat.

No you are wrong. Many PRC will still like to buy house and stay in crowded Singapore just to escape air pollution in China.

 

[nayr69sg]

Welcome back papsmearer. Good to see you here posting.

Can Singapore sustain this high property price?