Will you buy a old 99LH condo?

[devilplate]

will u consider buying a old 99LH condo which is more den 10yrs or even 20yrs?

[limfc]

will u consider buying a old 99LH condo which is more den 10yrs or even 20yrs? hi devilplate,

i would buy only, if it is a tactical / flip move... i.e. buy at a 15-20% discount to market price and sell it off quickly at 5-10% discount to market price... profit the 5-10% to cover all the fees and pocket a small profit? but then for the time and effort spent, some may not find it worthwhile... :D

to wait for en-bloc is quite scary, coz if dun happen, and when the lease runs own to less than 70-60 years, I was told, that selling it becomes more difficult, because of limited financing... yes / no? :beats-me-man:

fc

[azeoprop]

Something like Hillcrest Arcadia and the Arcadia? Ultra old 99years in prime district? :beats-me-man:

[Rysk]

I would rather pay more to buy an old f'hold unit.. chances for a 99 LH & f'hold to enbloc is like 5:95 respectively.
Even no enbloc.. no problem.. cos is a f'hold

[proud owner]

I would rather pay more to buy an old f'hold unit.. chances for a 99 LH & f'hold to enbloc is like 5:95 respectively.
Even no enbloc.. no problem.. cos is a f'hold


bingo


thats why i only consider FH ... even if the condo collapses after 100 yrs .. you still own the land ... you can still build something on it

99LH .. if it collapses ...too bad .. you own ntg

[sfwoo]

bingo


thats why i only consider FH ... even if the condo collapses after 100 yrs .. you still own the land ... you can still build something on it

99LH .. if it collapses ...too bad .. you own ntg

Very funny, 99LH condo no one wants. 99LH HDB selling higher and higher price. Just saw a Ghim Moh 3 rm flat, bought at $13500 in 1976, sell for more than $300K recently.

[proud owner]

Very funny, 99LH condo no one wants. 99LH HDB selling higher and higher price. Just saw a Ghim Moh 3 rm flat, bought at $13500 in 1976, sell for more than $300K recently.


if i ever buy anything thats 99LH ...it will be a HDB ...

if building collapses .. HDB will compensate

if condo 99 LH collapses .. developer can declare bankrupt and yu still get ntg ...

[sfwoo]

if i ever buy anything thats 99LH ...it will be a HDB ...

if building collapses .. HDB will compensate

if condo 99 LH collapses .. developer can declare bankrupt and yu still get ntg ...

OK.
Old HDB beats old LH condo.
Anyway, it is one of the ways I may choose to retire, in HDB. Cos market, food centre, coffeeshop, provision shop, clinic...all easily reached.

[sfwoo]

I was counting...the Ghim Moh 3 rm flat appreciated 72% p.a. for 34 years.

[proud owner]

I was counting...the Ghim Moh 3 rm flat appreciated 72% p.a. for 34 years.

ghim moh location is good

and i suspect people buy for 'enbloc'

one part of the old ghim moh already enbloc ..and current owners were given choices to take $$, or upograde to newer same size or top up to upgrade to newer bigger units further down the road ...

those remaining un-enbloc HDB may also be enbloc in time to come ..

with or without enbloc, it remains a very good location ..

[new2mondrian]

To me, the following factors matter when deciding whether leasehold or freehold:

1) Pricing is everthing. If the pricing is attractive (ie there must potential upside based on the entry price). Pricing also determines the rental yield. Makes no sense to me to pay through the nose for less than 2% yield.

2) Location. Not just prime (ie Pebble Bay, Marina Bay, Sentosa), but there must be rental demand. And location also extends to the surroundings. Buy a piece of 99LH property amidst 999yrLH/FH properties (eg River Valley are) is as good as asking for trouble.

3) Purpose of purchase. If for self-stay, then other factors such as proximity to ameneties, potential of the area (vs entry price), distance to town are more important than the 99LH/FH debate.

However, after all that is said and done, I'd never ever buy a 99yr LH landed/cluster house. I don't see any potential upside at all, and exiting the investment might be tough.

[Komo]

old doesn't matter, even if LH. Cheap and good location, grab it!

[proud owner]

old doesn't matter, even if LH. Cheap and good location, grab it!

really ??


there must be a cut off age right ?

if a 40 yr old LH selling cheap, say 250k cheaper than a 40 yr FH .. will u buy ?

how old is too old ? how cheap is cheap ?

[Komo]

really ??


there must be a cut off age right ?

if a 40 yr old LH selling cheap, say 250k cheaper than a 40 yr FH .. will u buy ?

how old is too old ? how cheap is cheap ?
well given the 2 choices, I may pick the LH one if can rent out at the same price!

[proud owner]

well given the 2 choices, I may pick the LH one if can rent out at the same price!

if its 35 yo LH lower cost , same rental income as a 35 FH which is more expensive


how long you plan to hold it ? to collect rent ?

there will come a time when its value drop to very low ( and say no one want to enbloc it) .. then how ?

you potentially risk losing the whole investment

[Douk]

When recession hit, old 99LH property price in good location plunged the most, comparing to the FH or newer development in same area. A 99LH with enbloc potential will always have that potential for enbloc (even if it never get enbloc) so price will bounce back. Low quantum with big floor space, the profit can be better than a MM or 1 bedded.. the only downside is.. no progressive payment.. :2cents:

[devilplate]

if old 99LH near MRT? astoria park holding up prices pretty well

going forward, there will be more and more 99LH condos. most likely govt will allow lease top up or else govt no nid to sell 99LH land liao...make sense?

i notice there r some LH landed in geylang with less den 20yrs lease remaining. asking prices 200k...it will be interesting to see wat happens when lease expires:D

some old prime condo like international plaza, ppl park complex, pearl bank etc...still got transactions

[Douk]

if old 99LH near MRT? astoria park holding up prices pretty well

going forward, there will be more and more 99LH condos. most likely govt will allow lease to up or else govt no nid to sell 99LH land liao...make sense?

i notice there r some LH landed in geylang with less den 20yrs lease remaining. asking prices 200k...it will be interesting to see wat happens when lease expires:D

some old prime condo like international plaza, ppl park complex, pearl bank etc...still got transactions


my opinion, dont bet on the OLD properties at geylang. govt will re-develop that place, they need the land back for development.:2cents:

[proud owner]

my opinion, dont bet on the OLD properties at geylang. govt will re-develop that place, they need the land back for development.:2cents:

when that happens ..

and Geylang becomes the next prime location (which i always feel it is ) .. we should all boycott the big banks .. whos been turning down financing that area ..

and we shud all support only Hong leong ..for having been there all these years

a friend of mine bought a conservation there a couple of years back said big boys all didnt want to finance Geylang ...

[devilplate]

my opinion, dont bet on the OLD properties at geylang. govt will re-develop that place, they need the land back for development.:2cents:

but majority r FH in geylang...so how govt gona redevelop tat area?

those CBD ppty/offices got a high chance redeveloping into other use....so too prime a location for 99LH is not a gd idea

[Douk]

but majority r FH in geylang...so how govt gona redevelop tat area?

those CBD ppty/offices got a high chance redeveloping into other use....so too prime a location for 99LH is not a gd idea


oh.. i meant the LH with 20 yrs lease. FH is good :)

[devilplate]

when that happens ..

and Geylang becomes the next prime location (which i always feel it is ) .. we should all boycott the big banks .. whos been turning down financing that area ..

and we shud all support only Hong leong ..for having been there all these years

a friend of mine bought a conservation there a couple of years back said big boys all didnt want to finance Geylang ...

recently got MM projects in geylang...very gd response for 800-1kpsf...the latest one cud be testing 1.2kpsf for the smallest unit (3xxsqft)

so, geylang remains as it is but psf oredi pushed to new high.

to me, those older FH apts in geylang r low in psf ard 600psf now is due to no facilities. new launches, give a small pool and build smaller units can also push up the psf...lol

having said tat, r u daring enuff to buy a old FH apt w/o facilities there for 600psf? i am not interested...r u?

[august]

as long as good location FH or LH dun matter to me, of cos i expect the LH price to be lower ~

[proud owner]

recently got MM projects in geylang...very gd response for 800-1kpsf...the latest one cud be testing 1.2kpsf for the smallest unit (3xxsqft)

so, geylang remains as it is but psf oredi pushed to new high.

to me, those older FH apts in geylang r low in psf ard 600psf now is due to no facilities. new launches, give a small pool and build smaller units can also push up the psf...lol

having said tat, r u daring enuff to buy a old FH apt w/o facilities there for 600psf? i am not interested...r u?



i would pay 600 psf for a big unit in geylang .. FH not keen MM unit

[devilplate]

i would pay 600 psf for a big unit in geylang .. FH not keen MM unit

there r many such 600psf FH apt with only parking lots selling now...did u bot any during this trip?

how about this one: pic show a pool too!
http://www.propertyguru.com.sg/listing/1440385/for-sale-wing-fong-mansions

[proud owner]

there r many such 600psf FH apt with only parking lots selling now...did u bot any during this trip?

how about this one: pic show a pool too!
http://www.propertyguru.com.sg/listing/1440385/for-sale-wing-fong-mansions

went to view a 2200 sqft but alot of useless space like roof terrace

i want big unit pure usable space

so didnt find anything good

too many MM units around i like space and i see the demand for big units in time to come

[devilplate]

went to view a 2200 sqft but alot of useless space like roof terrace

i want big unit pure usable space

so didnt find anything good

too many MM units around i like space and i see the demand for big units in time to come

or u went to see atrium? tat one cannot get 600psf for normal units oredi...

600psf only those much older...ard 10yo or more

i realise asking prices inch up slightly for those older apts in geylang now....cud be due to the MM projects

[proud owner]

or u went to see atrium? tat one cannot get 600psf for normal units oredi...

600psf only those much older...ard 10yo or more

i realise asking prices inch up slightly for those older apts in geylang now....cud be due to the MM projects

hahha indeed Atrium

so which are you referring to ?

[mcmlxxvi]

there r many such 600psf FH apt with only parking lots selling now...did u bot any during this trip?

how about this one: pic show a pool too!
http://www.propertyguru.com.sg/listing/1440385/for-sale-wing-fong-mansions
aiyo wing fong cannot touch. chicken nest!

[maisonjai]

aiyo wing fong cannot touch. chicken nest!

devilplate looking for front door amenities :D, this one superb night view 2nd to none. haha

[Property_Owner]

aiyo wing fong cannot touch. chicken nest!


free chicken breast...:D :D :D

[proud owner]

free chicken breast...:D :D :D

would you buy any porperty if you know someone died, murdered , drowned in that unit ?

[Property_Owner]

would you buy any porperty if you know someone died, murdered , drowned in that unit ?

never, ever...there's more then 1 property in singapore....

[proud owner]

never, ever...there's more then 1 property in singapore....


are agents obligated to inform buyers of past history ?

i know in the States ..they dont ...

so i wonder ...
who now owns the unit on the 3rd floor at Viz @ holland where the dead body of a girl was found ?

the bungalow (which is on sale now) at sentosa where the china bird drowned ?

[devilplate]

all the old old HDBs cfm got ppl passed away b4 leh

[proud owner]

all the old old HDBs cfm got ppl passed away b4 leh

well ... theres a difference between natural and unnatural death

i personally would avoid ..COMPLETELY

[Wild Falcon]

I like Geylang. Lots of potential. Those with carpark lots sure got chance to enbloc. Developer can build smaller units n build some bathtub pool at rooftop and market as lifestyle area in a vibrant and colourful district :)

[Wild Falcon]

One of the reasons why Geylang's price is a laggard is due to difficulty in securing financing. So only those with very strong balance sheet dares to buy. But I believe banks are opening up, gg by the success of recent MM launch in the area. With the issue of inability to secure financing out of the window, properties there should adjust upwards to catch up with the rest of the market. It is after all an area that generates attractive yields due to the low quantum.
when that happens ..

and Geylang becomes the next prime location (which i always feel it is ) .. we should all boycott the big banks .. whos been turning down financing that area ..

and we shud all support only Hong leong ..for having been there all these years

a friend of mine bought a conservation there a couple of years back said big boys all didnt want to finance Geylang ...

[tkc2263]

To me, freehold never ever means forever in today's context.

The rule of 80% (for projects more than 10 years old ) and 90% yes votes by residents (for projects less than 10 years) nullify any freehold status.

Just my :2cents: worth..

[Property_Owner]

the bungalow (which is on sale now) at sentosa where the china bird drowned ?


Can propertyguru link? How much is it selling? Market price or below?

[august]

Can propertyguru link? How much is it selling? Market price or below?
so-called below bank valuation, asking 15.8m, ard 19xx psf
an offer of 15m was rejected

[Wild Falcon]

That's strata-titled but still freehold. Even if you are forced to sell due to enbloc, there is no need to pay for the lease topup for the land which is substantial. That is why the majority of enblocs are freehold.

Freehold is never meant to mean "forever" - people move house all the time. It's just the land value will always hold as there is no time decay on the lease.


To me, freehold never ever means forever in today's context.

The rule of 80% (for projects more than 10 years old ) and 90% yes votes by residents (for projects less than 10 years) nullify any freehold status.

Just my :2cents: worth..

[condoinvestor]

FH vs LH

FH better, but over-riding it is, LOCATION, LOCATION, LOCATION.

Price differential also important, if the spread is huge, go for LH, if not FH is better

Last but not least, age of building and state of maintenance.My answer YES I would, In fact all properties in my portfolio now is LH.

[proud owner]

FH vs LH

FH better, but over-riding it is, LOCATION, LOCATION, LOCATION.

Price differential also important, if the spread is huge, go for LH, if not FH is better

Last but not least, age of building and state of maintenance.My answer YES I would, In fact all properties in my portfolio now is LH.

would you buy the Horizon ?

old , enbloc failed , committee kana sued , location good, and LH

[Douk]

really ??


there must be a cut off age right ?

if a 40 yr old LH selling cheap, say 250k cheaper than a 40 yr FH .. will u buy ?

how old is too old ? how cheap is cheap ?

you are right. there must be a cut off age for 99LH with enbloc potential.. wonder what is that number to put off a developer..

[jlrx]

would you buy the Horizon ?

old , enbloc failed , committee kana sued , location good, and LH

Obviously the market feels that Horizon Towers is now worth more than its 2007 en bloc price!


In an unprecedented move, the Court of Appeal has ruled in favour of owners who objected to the S$500 million en bloc sale of Horizon Towers.

The Leonie Road condominium was to have been sold in 2007 to Hotel Properties and its partners.

Had the en bloc sale gone through, owners of its 199 units would have earned S$2.3 million each.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/HorizonTower11-04.jpg

[jlrx]

While going through some past transactions, I discovered something ...

The price of en-blocable properties have surpassed the all-time market high of May 1996 by between 25% to 100% !!! :scared-4:

http://i305.photobucket.com/albums/nn211/jlrx_bucket/HorizonTower12-01.jpg

[proud owner]

While going through some past transactions, I discovered something ...

The price of en-blocable properties have surpassed the all-time market high of May 1996 by between 25% to 100% !!! :scared-4:

http://i305.photobucket.com/albums/nn211/jlrx_bucket/HorizonTower12-01.jpg

want to give you tips also cannot ...

[condoinvestor]

would you buy the Horizon ?

old , enbloc failed , committee kana sued , location good, and LH

Hi, I have not looked too closely at Horizon, but if it fits my criteria, why not.....cheers