[Bigiron]

Ang Mo Kio Sers: New options of replacement flats with shorter leases of 50 years or less, says HDB letter to residents
https://www.todayonline.com/singapore/an...ts-1934871

[sgbuffett]

They are better off taking original deal.

I think many people complain about having to fork out cash $100K that is for the extra 50yrs of lease ....$2K for each year which is a good deal if they want to pass the property down to children and grand children.

Since they say they cannot come up with the $100K they get a 50yr leasehold which is same as they existing flat but place is newer. Which is fair.

[Sticw]

Having mixed lease term is going to complicate things. Unless HDB builds a specific block for 50 yr lease while other blocks at 99 yr lease...

Just to add, anything that is less than 60 yr lease should technically see no price increase potential... Leasehold property typically appreciate within the 99 to 60 yr lease period. Thereafter it starts dropping based on Bala table..

[theold]

However, Mr Nicholas Mak, the head of research and consultancy at ERA Realty, said that residents who opt for up the 50-year lease may face some issue when they try to sell the flats after meeting the minimum occupancy period.

"Their flats would have a shorter lease than their neighbours, which means that in the years ahead, their flats' value could depreciate faster than their neighbours on a 99-year lease."

[theold]

When reaching 0 while their neighbors have the balance number of years, likely they have to top up or move out.

[sgbuffett]

The govt gave a more than fair deal. ..people complain they don't like to fork out cash or don't have cash.

The govt comes back with another deal...with no cash.

As for complexity ...what complexity? They have database to track the leases of each flat once lease end you move out.

As for shorter lease depreciating faster than neighbor. Yes, to begin with today they own old flats with short remaining leases and will be no worse off.

I think problem solved. It wasn't a complex issue all along.

[Huliwang]

The govt gave a more than fair deal. ..people complain they don't like to fork out cash or don't have cash.

The govt comes back with another deal...with no cash.

As for complexity ...what complexity? They have database to track the leases of each flat once lease end you move out.

As for shorter lease depreciating faster than neighbor. Yes, to begin with today they own old flats with short remaining leases and will be no worse off.

I think problem solved. It wasn't a complex issue all along.

I think it is a complex issue because the leasee might be still alive when the lease runs out. Say he buy the flat at 30 years old and when expired he is 80 and could be still alive, retired with no income. Where is he going to live?.....

[[[ForeverAlone]]]

actually Some resident is NOT HAPPY come this. Same for those at woodlands been affected.

[Bigiron]

HDB Offers 50-Year Lease To SERS Residents In Ang Mo Kio & Marsiling, For Owners Above 45 🏘

https://mustsharenews.com/amk-marsiling-...e=telegram

For more news you must share, follow us at @mustsharenews

[[[ForeverAlone]]]

Instead Govt should make our life easy , now a days like to always give us more " things " to headache.

[p1acebo]

I think it is a complex issue because the leasee might be still alive when the lease runs out. Say he buy the flat at 30 years old and when expired he is 80 and could be still alive, retired with no income. Where is he going to live?.....

Bro, this option only available to those 45 yrs and above I think.

[Huliwang]

Bro, this option only available to those 45 yrs and above I think.

Oh like that ah. ....

[Levin]

50-year lease is good for those who have no descendants to pass their assets to. Or for those who do not want to bequeath assets to their descendants.

[starbugs]

No matter what, people will complain. The original deal is better if folks have cash or CPF to pay for it. At most sell after five years MOP. It's an up to 200k windfall for a five room unit.

Otherwise, sell now on open market with rehousing benefits and get an equivalent older unit. Probably 100k+ windfall.

Taking 50 year lease is the worse of the three options. Hard to sell and zero windfall.

[Levin]

No matter what, people will complain. The original deal is better if folks have cash or CPF to pay for it. At most sell after five years MOP. It's an up to 200k windfall for a five room unit.

Otherwise, sell now on open market with rehousing benefits and get an equivalent older unit. Probably 100k+ windfall.

Taking 50 year lease is the worse of the three options. Hard to sell and zero windfall.

I think the 50-year-lease is good for those aged 80 and above. I don't think they are thinking of selling 5 years later and then spend time and energy to find a place and then move there. If the lease is shorter even better for these old folks who do not intend to bequeath the flat to anyone.

[maddog]

News said stupidporeans welcome the move

Discount $55k for 50 years less

[Sline]

Why not offer AMK SERS resident cheaper option replacement flats at Woodlands ( non mature) 99 leasehold? So they need not top up & have some cash back?.

Or priority in sales of balance flats at cheaper non mature towns as replacement?

[[[ForeverAlone]]]

lol to those claim " HDB housing is YOU own "

[Huliwang]

lol to those claim " HDB housing is YOU own "

Own or no own so important meh? .....

[drgn]

However, Mr Nicholas Mak, the head of research and consultancy at ERA Realty, said that residents who opt for up the 50-year lease may face some issue when they try to sell the flats after meeting the minimum occupancy period.

"Their flats would have a shorter lease than their neighbours, which means that in the years ahead, their flats' value could depreciate faster than their neighbours on a 99-year lease."

hdb should give an option for the new buyer to top up $55,000 for another 50 years, so that all units expired at the same time.

this option will make the unit easier to sell.