Chitchat Tiong Bahru 4-room flat with 51-year lease left sold for $1.1m

[bushtucker]

guess the race of the buyer?

 

[whoami]

If no lifts and live 3rd or 4th, can be very tiring. My friend used to live on 4th storey. One of those units facing Jln Besar stadium. Very siong.

Correct. Wait they thet start havg knees problem. On tis matter MIW have no foresight when they first built pigeon holes without havg lifts at all floors. Oh ya i forgot. Million dollar ministers stayed in landed. No nid lift even when they r in their twilight yrs.

 

[JohnTan]

guess the race of the buyer?

Not m&d coz not rich enough.

 

[nayr69sg]

HDB will have zero value @ end of its leasehold but not condo n EC. That's the difference.

I hear that all the time. Isnt a lease a lease?

 

[JohnTan]

I hear that all the time. Isnt a lease a lease?

Yes, but people are paying for the amount of good times they can get out of the time they spent living at a particular leasehold. It's at a great location with lots of amenities and the apartment is great too!

 

[nayr69sg]

End of condo 99yrs u still have the strata title which is worth a lot of $$$ if it's in prime location.
Even not in prime location it is still worth a sum of $.
If it's HDB it becomes zero dollar cos the gahmen is taking the land back for redevelopment n owners get nothing.
In 51 years, these retro walk up HDBs in Tiong Bahru will be taken back by the gahmen @ $0.

Wrong.

Strata title is supposed to let apartment owners own part of the land the building is on.

However as a strata title owner of a 99 year leasehold it just means you "own" part of that leasehold.

The difference is that if all the strata title owners can agree to sell their title to a developer BEFORE the 99 year lease is up they can get money. But it has to be before the lease is up.

If after the lease is over they get nothing.

The developer who is buying will have to negotiate a new lease with the owner of the land ie the govt.

If you ask me the difference is there but dependent on the blessings of the land owner ie the sg govt.

Has sg govt ever come out to say for sure will always approve new lease for a developer willing to buy enbloc? Always? Likely yes.

But as we have seen with HDB they used to think the same. Then later now they say not necessarily.

When the time comes we will see.

@Papsmearer any thoughts on this? Is there value for strata title owners AFTER leasehold has expired?

 

[countryman]

What u mean wrong? That's what I said! Of coz the land area of the condo is owned collectively by the condo owners!

 

[rocket]

Buyer hoping for enbloc.

 

[eatshitndie]

because these 4-storey blocks seem like "heritage" buildings, most likely hdb will preserve them until 69 years then enbloc the whole cluster when these structures begin to crumble and or concrete begin to spall.

 

[nayr69sg]

What u mean wrong? That's what I said! Of coz the land area of the condo is owned collectively by the condo owners!

You said

End of condo 99yrs u still have the strata title which is worth a lot of $$$ if it's in prime location.

Wrong. END of 99 years it is WORTHLESS.

BEFORE 99 years is up ok got value. But dependent on govt giving developer lease renewal.

 

[bobby]

I would like to see this idiot walk into any bank and ask for an overdraft to be secured by the title on his property.....

 

[Hypocrite-The]

Correct. Wait they thet start havg knees problem. On tis matter MIW have no foresight when they first built pigeon holes without havg lifts at all floors. Oh ya i forgot. Million dollar ministers stayed in landed. No nid lift even when they r iesen their twilight yrs.

U r wrong. These ministars stay in landed properties with lifts. Their houses are double or triple stories.U think they cannot afford it?

 

[Scrooball (clone)]

Its still cheaper than renting the whole house over a period of 51 years.

Assuming u rented the whole place for $2,500 per month, which is likely to be higher.

$2,500 x 12 months = $30,000 per year
$30,000 x 51 years = $1,530,000

And that’s not including the fact that you pretty much have freedom to do what you want without restrictions from a landlord.

 

[eatshitndie]

Its still cheaper than renting the whole house over a period of 51 years.

Assuming u rented the whole place for $2,500 per month, which is likely to be higher.

$2,500 x 12 months = $30,000 per year
$30,000 x 51 years = $1,530,000

And that’s not including the fact that you pretty much have freedom to do what you want without restrictions from a landlord.

yalor, moreover in that location, can churn flat into chicken coop and recoop, oops recoup, mortgage and sexpenses that will pale in comparison to (chicken) cummission and collections.

 

[Hypocrite-The]

Its still cheaper than renting the whole house over a period of 51 years.

Assuming u rented the whole place for $2,500 per month, which is likely to be higher.

$2,500 x 12 months = $30,000 per year
$30,000 x 51 years = $1,530,000

And that’s not including the fact that you pretty much have freedom to do what you want without restrictions from a landlord.

That is why there are buyers for such property as it's cheaper than renting. Every one needs a place to live

 

[sweetiepie]

KNN my uncle used to stay in similar structure in Stirling Road KNN the inside very cramp gai KNN

 

[rushifa666]

I pr i also take first. Anytime can run road without paying

 

[whoami]

U r wrong. These ministars stay in landed properties with lifts. Their houses are double or triple stories.U think they cannot afford it?

Those days the 70s or 80s if tere were double storeys bungalow or terrace/semiD i doubt they have lifts. Nowadays they do. Like those 3 storeys detached bungalow at trevose crescent. Only 8 units. Ev unit have lift n swimming pool!

 

[countryman]

You said

Wrong. END of 99 years it is WORTHLESS.

BEFORE 99 years is up ok got value. But dependent on govt giving developer lease renewal.

Who doesn't know that? Of course it has to be before 99yrs leasehold is up.
Wrong choice of words used that's all but meaning is the same.

 

[GoldenDragon]

Who doesn't know that? Of course it has to be before 99yrs leasehold is up.
Wrong choice of words used that's all but meaning is the same.

Mee Kia ta and ta mee Kia?