atans1

Older HDB flats: How much value is lost in under 2 yrs

In Property, Public Administration on 03/06/2019 at 7:27 am

Windbag Tan Kin Lian who lost his deposit in 2011 PE but who helped the PAP’s preferred candidate become president has provided some interesting data on how fast a flat can lose value.

A Miss X, he reports, has a HDB flat in Telok Blangah … with a market valuation price of $322,000 as at Dec 2017. The property agent told her that the market price had dropped as her flat had passed the 40 year mark. Later, the market became worse after Lawrence Wong (Fixing Sabo King minister) announced that HDB flat will have no value at the end of 99 year lease.

Miss X could not sell her Telok Blangah flat within 6 months. She had bot another flat nearer her place of work. But HDB did not press her to sell the flat.

She was finally (In late 2018 or early 2019, we are not told) able to get a buyer willing to pay $292,000. HDB gave a lower valuation of $275,000 for the flat. The buyer opted out.

Worse, an agent she had used) is marketing her neighbours’ flats at around $250,000.

From $322,000 to $250,000 within one and a half yrs: a 23% fall. Vote PAP?

The ground is not sweet for the PAP: Double confirm, ground not sweet for PAP and Will resale flat owners still vote for PAP in next GE? contd.

How to get 65% of the popular vote liddat?

Answer: How PAP can win 65% plus of the vote.

Vote wisely.

 

  1. No worries for the PAPies.

    As I’ve said many times … Resale HDB won’t be a large enough issue until after 2030.

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