atans1

Not afraid of 99-yr lease ending

In Property on 27/02/2016 at 9:46 am

Afraid of redeveloment

I refer to this http://mothership.sg/2014/04/the-99-year-time-bomb-some-singaporeans-are-sitting-on/ which was recirculated again in mid Feb.

This reminded me of the Bras Basah Complex HDB flat I tot of buying.

In 2014, I heard they were going “cheap” because the tenure left meant that only cash could be used. They were value for money (I can’t remember the asking prices): roomy and juz round the corner from Taffles City etc, and with nearby facilities for oldies like my mum and me (in time to come). I wasn’t too concerned  about the remaining tenure as I calculated that I wasn’t going to be around to see the expiry. I considered the putchase price as “rent” paid in advance.

What stopped me from buying one was simple. What if the govr bought back the flats to redevelop the area? I’d lose serious money. It happened at the nearny Rochor Centre.

 

 

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  1. Lose serious money only if you pay at or above valuation, and/or spend a bomb on renovations. SERS compensate “owners” at current market valuation. As you said, cheap coz no bank loans possible i.e. large discount versus valuation. Only question is whether got any “owner” willing to sell at your offer price.

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