[Bigiron]

🫠 An Ang Mo Kio 5-room HDB flat was resold for a record-breaking S$1.268 million.

➡️ https://bit.ly/3PaJA7r

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[EvertonDiehard]

🫠 An Ang Mo Kio 5-room HDB flat was resold for a record-breaking S$1.268 million.

This is uniquely S'porean! Paying $1.268 million on the remaining lease on an apt owned by the HDB who is the lessee while the buyer is a mere lessor. A sucker is born everyday in S'pore.

[Blasterlord2]

Quite an old flat with 55 years of lease left. I wonder who's the buyer.

[WhatDoYouThink!]

1.268m, 1292sf, $981psf, 86y left, near nyp, ite, schs, market, eateries, not far from mrt station. Can lah, not too bad

[EvertonDiehard]

1.268m, 1292sf, $981psf, 86y left, near nyp, ite, schs, market, eateries, not far from mrt station. Can lah, not too bad

That is far too expensive for a lease.

[WhatDoYouThink!]

That is far too expensive for a lease.

New Private leasehold at lousy locations are asking 2000 psf, good locations 2700 psf. Freehold 3000, 3300 psf

The trend is up, now dun grab later will be worse

[EvertonDiehard]

New Private leasehold at lousy locations are asking 2000 psf, good locations 2700 psf. Freehold 3000, 3300 psf  The trend is up, now dun grab later will be worse

All private condo units - whether they are on 99 or 999-year leases - possess a strata title, which stipulates the size of each apartment, including its undivided share of the land - including the swimming pool, tennis courts, gym, carpark etc. - which the development occupies. Owners of condos may form their own committee to initiate a collective sale to a new developer whenever they wish to. If an agreement for an en bloc sale goes through, the buyer indemnifies the Singapore Land Authority to return the lease to its original 99-year tenure.

[EvertonDiehard]

That is far too expensive for a lease.

Buyers of HDB units have only purchased a 99-year lease, they have no share of the land where their blocks stand on and no strata title. As such, the HDB is not being fair to its tenants by calculating the land cost when evaluating the price of its flats.

[mikotan]

Still a good 15 mins walk to AMK town center!

[WhatDoYouThink!]

Buyers of HDB units have only purchased a 99-year lease, they have no share of the land where their blocks stand on and no strata title. As such, the HDB is not being fair to its tenants by calculating the land cost when evaluating the price of its flats.

Any solution to that?

[EvertonDiehard]

Any solution to that?

I am glad that I sold off my HDB flat more than 20 years ago to purchase my condo. On hindsight, I should have rented it out for the past 2 decades and sold it off now when the resale prices are sky high. It is a centrally located HDB unit.