When HDB flats were first build, the flats were sold at very low prices. In subsequent years, under the Asset Enhancement Policy of the government, the prices of the flats appreciated many times. The people who bought their flats earlier enjoyed a large gain. Those who bought the flats at the higher prices were still able to enjoy the appreciation as long as the flats continue to increase in price.
The government leaders also advised the citizens to buy a flat and enjoy the appreciation in the value.
However, most people do not realize that the HDB flats are sold on 99 year leases and that the flats will have no value at the end of the lease.
What can be done?
https://tklcloud.com/Feedback/feedback2.aspx?id=1126
The government leaders also advised the citizens to buy a flat and enjoy the appreciation in the value.
However, most people do not realize that the HDB flats are sold on 99 year leases and that the flats will have no value at the end of the lease.
What can be done?
https://tklcloud.com/Feedback/feedback2.aspx?id=1126
1 comment:
All leasehold properties, whether private or public face this sharply depreciating value of their homes.
HDB flats have one advantage, Govt let them buy another flat at end of lease, private home owners are left on their own. People thought they could sell their properties en bloc, but not all private properties can get to top up their lease, if compulsory acquisition on the way.
Take the 99 yr leasehold Arcadia, off Adam Road, which is an Indian expats enclave. New arrivals rush in to buy, unaware Govt refused the present owners to top up lease 2 times.
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