hdb 99yr lease

**marktkt22** · 05-01-12, 06:49

Will there ever be a hdb with lease fully run down...say 50yr down the road.
Government didnt enbloc, just let it expires...?

**ikan bilis** · 05-01-12, 07:58

haha... hdb type of concrete structure cannot last 100yrs...
govt will have to keep upgrade toilet, upgrade kitchen, finally cannot do small patches then knock down whole building... they got no choice but to ser your hdb, else lost votes...

**samsara** · 05-01-12, 09:27

Effectively HDB 99LH = Freehold... at least while the current government policies apply.

Originally Posted by ikan bilis

haha... hdb type of concrete structure cannot last 100yrs...
govt will have to keep upgrade toilet, upgrade kitchen, finally cannot do small patches then knock down whole building... they got no choice but to ser your hdb, else lost votes...

**teddybear** · 05-01-12, 09:43

Dream dream!
If govt poor no money gone means no more enbloc!

Originally Posted by samsara

Effectively HDB 99LH = Freehold... at least while the current government policies apply.

**marktkt22** · 05-01-12, 10:13

Agreed with teddybear.
If hdb = fh, who bear the cost ? Government ?
Budget from where ?
Raised tax ?

**Regulators** · 05-01-12, 10:37

If location is good, govt can enbloc and sell to developers and also sell you sers at slight discount. Govt can make money both ways. For hdb blocks with lousy location, I sometimes think the govt may just let the lease expire

Originally Posted by marktkt22

Agreed with teddybear.
If hdb = fh, who bear the cost ? Government ?
Budget from where ?
Raised tax ?

**ikan bilis** · 05-01-12, 10:38

Originally Posted by marktkt22

Agreed with teddybear.
If hdb = fh, who bear the cost ? Government ?
Budget from where ?
Raised tax ?

heya.... everytime ser got need to do some "top up" 1....
the replacement is not giving you a new LH99 free of charge... the new flat is usually more expensive... but they do give you some subsidised price like bto like that...

one taxi driver told me this before,....
- he drove taxi for 20-30yrs, no cpf
- got a 3rm flat fully paid up
- now he damn old liow, only waiting for "days" and wanna stay at his old 3rm flat until the very last day
- now his flat kena ser, and new 3rm flat more expensive need some top up
- so ended he die die got to drive taxi for more years.... damn cham...

**samsara** · 05-01-12, 10:49

What happens if the flat owner is unable to pay for the top-up?

Originally Posted by ikan bilis

heya.... everytime ser got need to do some "top up" 1....
the replacement is not giving you a new LH99 free of charge... the new flat is usually more expensive... but they do give you some subsidised price like bto like that...

one taxi driver told me this before,....
- he drove taxi for 20-30yrs, no cpf
- got a 3rm flat fully paid up
- now he damn old liow, only waiting for "days" and wanna stay at his old 3rm flat until the very last day
- now his flat kena ser, and new 3rm flat more expensive need some top up
- so ended he die die got to drive taxi for more years.... damn cham...

**rattydrama** · 05-01-12, 10:49

sers to damn good locations will subject to CASH top-up? or choose lousy location with 1 for 1 exchange with min loan thru cpf, just like lift upgrading, all residents can pay thru CPF slowly.

policy can be twisted and changed to meet the demand and expectation of the people.

**jeaprp** · 05-01-12, 10:51

Originally Posted by marktkt22

Will there ever be a hdb with lease fully run down...say 50yr down the road.
Government didnt enbloc, just let it expires...?

In a way , Sers is for Govt to unlock value

**rattydrama** · 05-01-12, 10:51

Originally Posted by samsara

What happens if the flat owner is unable to pay for the top-up?

use cpf and pay slowly or deferr it or ask son to pay or hdb arrange buy-back progrome after the death of the person, ie flat will return to hdb after the person died.

**jeaprp** · 05-01-12, 10:54

Originally Posted by samsara

What happens if the flat owner is unable to pay for the top-up?

Usually if existing owner choose similar size flat, no top up needed.
but reno part , may have to come out yr own.

**samsara** · 05-01-12, 11:11

All tax-payers will be paying for it?

I believe that is the case now?

Originally Posted by marktkt22

Agreed with teddybear.
If hdb = fh, who bear the cost ? Government ?
Budget from where ?
Raised tax ?

**ikan bilis** · 05-01-12, 11:14

Originally Posted by jeaprp

Usually if existing owner choose similar size flat, no top up needed.
but reno part , may have to come out yr own.

clementi ave 1 ser given ~24K cash for relocating/renovation...

**radha08** · 05-01-12, 13:39

Originally Posted by ikan bilis

heya.... everytime ser got need to do some "top up" 1....
the replacement is not giving you a new LH99 free of charge... the new flat is usually more expensive... but they do give you some subsidised price like bto like that...

one taxi driver told me this before,....
- he drove taxi for 20-30yrs, no cpf
- got a 3rm flat fully paid up
- now he damn old liow, only waiting for "days" and wanna stay at his old 3rm flat until the very last day
- now his flat kena ser, and new 3rm flat more expensive need some top up
- so ended he die die got to drive taxi for more years.... damn cham...

moral of story better be bus driver than a taxi driver..

**Lovelle** · 05-01-12, 13:47

gov lose billions to lehman is nothing..but take peanuts back from taxi driver ...just like that

**Arcachon** · 05-01-12, 19:07

3 Room Circuit Road sold for $ 277,000 in May 2011.

Geylang 50 06 to 10 56.00
Standard 1969 $277,000.00 May 2011

Lease commence 1969, balance 57 years.

Rent out per month $2,000, per year $ 24000, 57 years $1,368,000.

Premium Listing

For Rent - 50 Circuit Road (D13)
HDB Apartment (3STD (Standard))
50 Circuit Road
Marketed by Linus Wai 韦健荣 - Call (+65) 91431104
Listed on Jan 3, 2012

S$

(Guide Price)
S$ 3.41 psf (built-in)
645 sqft / 59.92 sqm (built-in)

CPF money can pay property 30 years and above.

Sell 27 years later $24000 x 27 = $648,000.

Why need to sell and lease back??????????

**Arcachon** · 05-01-12, 19:16

Sell all my private property and 5 room HDB, buy a 3 room HDB $300,000 pay 20% $60,000.

Rent out after 3 years collected rental @ 8% yield. $24,000/300,000.

Buy private condo.

**ysyap** · 05-01-12, 19:23

Originally Posted by ikan bilis

heya.... everytime ser got need to do some "top up" 1....
the replacement is not giving you a new LH99 free of charge... the new flat is usually more expensive... but they do give you some subsidised price like bto like that...

one taxi driver told me this before,....
- he drove taxi for 20-30yrs, no cpf
- got a 3rm flat fully paid up
- now he damn old liow, only waiting for "days" and wanna stay at his old 3rm flat until the very last day
- now his flat kena ser, and new 3rm flat more expensive need some top up
- so ended he die die got to drive taxi for more years.... damn cham...

Oh yes... my uncle's family had a similar story. Need to top up. This is really sad!

**ysyap** · 05-01-12, 19:26

Originally Posted by jeaprp

Usually if existing owner choose similar size flat, no top up needed.
but reno part , may have to come out yr own.

Is that true or just for some cases only lah... my uncle like have to top up leh!

**ysyap** · 05-01-12, 19:27

Originally Posted by Arcachon

Sell all my private property and 5 room HDB, buy a 3 room HDB $300,000 pay 20% $60,000.

Rent out after 3 years collected rental @ 8% yield. $24,000/300,000.

Buy private condo.

Someone who's used to staying in condo will find it very difficult to settle into a 3 room hdb.

**radha08** · 05-01-12, 21:52

Originally Posted by ysyap

Someone who's used to staying in condo will find it very difficult to settle into a 3 room hdb.

yup and someone stay landed will find it very difficult to stay condo...

**fclim** · 05-01-12, 22:42

Originally Posted by radha08

yup and someone stay landed will find it very difficult to stay condo...

No leh. I have lived in landed for more than 10 years. I don't find the transition to condo difficult. In fact, having got used to living in landed for so long, I personally don't find anything special living in landed.

In fact, I don't mind living in HDB with loads of cash in the bank and retire early. But just can't stand paying $100K or more in COV. Feel like a sucker.

**Regulators** · 05-01-12, 23:34

i dont think the govt is obligated to en bloc old hdb flats, but it is increasingly becoming a common practice for govt to do so. Firstly, it is to help renew the estate with newer looking buildings, secondly, it is a avenue for goverment to maximise land use to build taller hdb blocks with more flats and thridly, it serves as an avenue for the govt to earn more money their the maximisation of land or a sale to developer.

**rattydrama** · 06-01-12, 16:36

Originally Posted by Arcachon

Sell all my private property and 5 room HDB, buy a 3 room HDB $300,000 pay 20% $60,000.

Rent out after 3 years collected rental @ 8% yield. $24,000/300,000.

Buy private condo.

I heard of people doing this before and earned handful of profits. But with the CMs, my not be possible with all the CMs.....

replacement cost is 15%. if market shot up ...erm.....

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