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Thread: Is freehold property better than 99-year?

  1. #21

    Default 99 and freehold

    I have very old 99 and freehold projects, both near Orchard road( less than 10 mins walk). Both 50 years old, in 1995, the first owner bought the 99LH @ 850k and the freehold cost around 500k. Now both going for enbloc, the enbloc value of the freehold is 3.48M while the 99LH is only 1.89M. In resale market, the freehold cost 1.9M while the LH cost 1.5-1.6M. If possible, go for freehold.

    Just for your info.

  2. #22
    Join Date
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    Quote Originally Posted by oldfreehold View Post
    I have very old 99 and freehold projects, both near Orchard road( less than 10 mins walk). Both 50 years old, in 1995, the first owner bought the 99LH @ 850k and the freehold cost around 500k. Now both going for enbloc, the enbloc value of the freehold is 3.48M while the 99LH is only 1.89M. In resale market, the freehold cost 1.9M while the LH cost 1.5-1.6M. If possible, go for freehold.

    Just for your info.
    Thanks for sharing.

  3. #23
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  4. #24
    Join Date
    May 2012
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    Quote Originally Posted by oldfreehold View Post
    I have very old 99 and freehold projects, both near Orchard road( less than 10 mins walk). Both 50 years old, in 1995, the first owner bought the 99LH @ 850k and the freehold cost around 500k. Now both going for enbloc, the enbloc value of the freehold is 3.48M while the 99LH is only 1.89M. In resale market, the freehold cost 1.9M while the LH cost 1.5-1.6M. If possible, go for freehold.

    Just for your info.
    Why was it that 20 years ago (when both properties were about 30 years old), the FH cost much less than the LH? Location attributes?

    In this example, surely buying the lower priced property made more sense. Supposing in 1995, the LH costed 500K and the FH costed 850K, it may still make sense to opt for the LH? In this case of course, the FH wins hands down.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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