Will My HDB Flat Be Worth $0 After 99 Years?
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The Million Dollar Question: Will My HDB Flat Go To ZERO After 99 Years?
Probably one of the biggest questions most HDB buyers have is: what happens when the 99-year lease is up? Does it just go down to zero? Or will you have the option of extending the lease?
A recent discussion on Reddit focused on this very question and on some possible alternatives. It’s an especially pertinent question at this point in 2022, with resale flat prices at record highs, and no less than 259 flats selling for $1 million or more last year. Have Singaporeans truly processed the significance of the 99-year lease limit; and is there a better way?
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Chapters
0:00 - Intro
0:40 - Official stance
1:28 - Ideal solution: SERS
2:13 - Another solution: VERS
3:27 - Problems with VERS
6:27 - Possible solution #1 - Build back denser
6:56 - Possible solution #2 - Involve private developers
8:09 - Possible solution #3 - Changes to lease renewal methods
9:31 - Possible solution #4 (Sort of) - Even more sandwiched generation
11:38 - Outro
Feature image credit: A Time to Dance (1992 local show)
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Stacked is an online editorial aimed at helping Singapore home buyers, sellers, and renters make better decisions. By regularly conducting research and publishing our findings, we hope to give our readers a much better perspective on buying, selling, or renting Singapore real estate.
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@StackedHomes 2 жыл бұрын
Do you think HDB flats will go to $0? Share your thoughts! Store - stackedhomes.com/store/?.com&GQ_3Dl5F9kM Website - www.stackedhomes.com/?.com&GQ_3Dl5F9kM Instagram- instagram.com/stackedhomes Facebook - facebook.com/stackedhomes TikTok - www.tiktok.com/@stacked.homes
@asky368ify 2 жыл бұрын
It's all in the hands of the garment. If they want to suck money from you, they will ask you to top up hugh amount of money when lease run out. To reset to another new 99 Yr lease when it reaches 0 Yr. If they want to support you, they give you SERS. But garment already hinted that SERS will be slowly phased out and replaced by VERS which is useless as little benefit will be given. So therefore I said, whether your property is left to decay and rotten, or whether it is given the chance to re born itself all lies in the hands of our garment.
@contrarian2496 2 жыл бұрын
$0 would be fair only if the value of leasehold properties is directly correlated to the remaining lease. For example at 99 years balance lease the value of the flat should be the highest then at 49 years old its value halves, then $0 when lease expires. If someone buys a 49 years old HDB flat for half the price of a HDB flat with 99 years balance lease then it would be fair, but in reality there's 40 years old HDB flats selling for a million dollars, which means although these HDB flats are ageing their values are still going up for now. This is why $0 is problematic because instead of the value decaying over a period of 99 years, its highest value point often isn't at 99 years balance lease. Pegging the value of leasehold properties directly to its remaining lease may be unrealistic as various factors can negate the price depreciation effects of lease decay like location, inflation, etc, which is why after year 2000 when BTO sizes started shrinking, people started paying higher prices for 1990s or older flats with larger sizes, resulting in the inverse effect of older HDB flats increasing in value.
@asky368ify 2 жыл бұрын
@@contrarian2496 So in the end who control everything? Its the garment. Garment manipulate all the market prices. Then I always get to hear the resale is a free market forces of demand and supply. All bull shit. Garment is the mother suxkers who manipulate everything.
@yuenml Жыл бұрын
Will My 99 year Leasehold Condo Be Worth $0 After 99 Years?
@LonganLee Жыл бұрын
Tay Kheng Soon, renowned sg architect said due to civil engineering constraints, flats 99 years the material degrade requiring demolishment for Safety. Is this true? He said something like this in a speech online
@darrenjjchen2271 2 жыл бұрын
Ryan’s ability to explain in layman terms yet with foresight and non biased opinions .. amazing
@StackedHomes 2 жыл бұрын
Thank you, Darren!! We hope you find it informative! 😊
@yvvonelee5026 2 жыл бұрын
No need to wait until 99 years because when crossing the 50 years mark the value depreciate, the pipes are worn, the flooring crack, the design are out of dated, family unit is getting smaller and Singapore is running out of land to build more HDB. Some dont even want to wait for 99 yrs if given a choice to en bloc.
@asky368ify 2 жыл бұрын
One of the best video on lease decay that I've ever watch.
@StackedHomes 2 жыл бұрын
Thank you, Anthony! 😊
@ZhiweiLewis 2 жыл бұрын
Just to add on- from HDB source. Sers is 3-4% of the HDB housing population and only popular areas. To Clarify make it clearer - A replacement flat is just letting you to choose another BTO flat (you still have to pay for it) not free. All can be found black and white in HDB. Past rally, LSH mentioned and states they want HDB to be demolished and rebuilt which cost is cheaper than maintaining and keeping it so chance of gov letting extension happen it’s not possible :) cheers! With Love!
@StackedHomes 2 жыл бұрын
Thanks for sharing!!
@bane1009 2 жыл бұрын
Great content to talk about how our housing will contribute to the societal issue in the long run. Very real issue. Keep it up.
@StackedHomes 2 жыл бұрын
Thank you!!!
@faizaansyed8471 Жыл бұрын
Lovely video, really well-formed opinions and rationalisations. Thanks for making such content and looking forward to more!
@StackedHomes Жыл бұрын
Glad you enjoyed it!
@medialcanthus9681 3 ай бұрын
Nice voice easy on the ears and a comfortable delivery .
@yutacgino 2 жыл бұрын
Loved this. I didn't wanna ask agent as they will tend to hard sell Selling but this video is so objective and info. Thank you heaps!
@StackedHomes 2 жыл бұрын
Glad it was helpful!
@LordBagdanoff 2 жыл бұрын
Especially for central area even if it’s old one should not worry. Easily able to generate high rental or able to get a new house in the same area if SER. It’s only going to be more expensive to own a hdb in central area.
@halfnode6840 2 жыл бұрын
Good sharing as always!
@StackedHomes 2 жыл бұрын
Thanks for watching 😁
@MrBrightside-wq9pg 2 жыл бұрын
Great video with extensive and easy to understand explanations and information on the issue.
@StackedHomes 2 жыл бұрын
Glad it was helpful!
@sereneng5521 2 жыл бұрын
Thank you for your sharing!
@StackedHomes 2 жыл бұрын
It's our pleasure! 😁
@onebigegg1314 2 жыл бұрын
Thank you for the valuable insights!
@StackedHomes 2 жыл бұрын
It's our pleasure!! 😁
@timothyshiying9470 2 жыл бұрын
As such, only 50 HDB flat blocks will be allowed to stay on until the end of the lease. The majority of the HDB flats, will have to be en-bloc and being replaced which involves phasing out of old estates. This is what it has been done in Tampines Court, Tanglin Halt and Florence Regency before. So, if it reaches the end of lifespan, do the procedure of buying the house, moving out, cancellation of power supply and change of NRIC address. Renting a house or stay with others should be done at last resort.
@NPofficer 2 жыл бұрын
I learned about VERS from this video. Didn't know that was possible. Thanks!
@StackedHomes 2 жыл бұрын
Glad we could help! 😁
@bokkenneth Жыл бұрын
Great content! Keep going
@StackedHomes Жыл бұрын
Thank you! Will do!
@yongheng Жыл бұрын
Shoutout to the writer for making this video extremely easy to digest
@twong6531 2 жыл бұрын
Very valuable info
@StackedHomes 2 жыл бұрын
We're glad you find it valuable! 😊
@pheunthai 9 ай бұрын
An excellent explanation!
@StackedHomes 9 ай бұрын
Glad it was helpful!
@aphraelk6214 2 жыл бұрын
Great video & thanks for discussing this very important issue. I wish the govt is leading the discussion about solutions etc instead of keeping quiet about it. One of the govt's claims for their successful leadership is their ability to provide home ownership to the majority of the population. When the lease runs out for many blocks / estates built in the 1970s or 1980s, if the govt is going to displace a part of the population without offering alternative solutions, they're going to either have a riot on their hands or the homeless on the streets, so I hope they're thinking hard and working hard on it.
@bldbld3697 Жыл бұрын
Most people purchase their HDB at 30 years old + 99 Years (HDB) = 129 Years old. The oldest verified person is 122 years old. Few people will outlive their HDB.
@user-dw3od3jo6m 4 ай бұрын
@@bldbld3697 Oversimplified and unrealistic. That math doesn't add up when you factor in property flipping every 5 years. If a 30 year old buys a 60 year old flat because it only starts becoming affordable for him at that age, he would absolutely outlive it.
@liamporter1137 Жыл бұрын
Fair comments.
@user-xh4zd6bf9m 2 жыл бұрын
Pay and pay using cpf for your HDB till the end no savings for retirement and flat become 0
@StackedHomes 2 жыл бұрын
Well to be fair the payments should end in 25 years. So you'll be debt-free (housing-wise) if you bought even a 30 year old flat today! 😀
@user-dw3od3jo6m 4 ай бұрын
@@StackedHomes Lets say you're single, so you can only buy at 35. (Which basically means resale because you ain't getting a BTO at 35). Definitely will take the full 30 years repayment if its resale. because prices are ridiculous and as a single, you will get minimal grants. You'd be 65 with an empty retirement fund that didn't get to compound interest. Huat ah.. But ah, prices start depreciating drastically after 50 years... which is where you're at if you bought resale. So if you sell, you lose money and won't be able to afford a new house. And if you don't sell your house, you'd need to keep working past 70 to live out your final 5 years. 4G leadership: Not my problem. I'll be gone by then. 🤣
@franciscody9622 Жыл бұрын
Yes, it will be worth zero to the "owner" (actually, lesser) when the lease expires because it has no value (can no longer be used) and has to be returned to HDB without compensation. This is a mathematical certainty.
@tesbackul3621 2 жыл бұрын
Purpose of living: Work forever to pay leasing rights for place to live.
@ryanwong2778 2 жыл бұрын
Another solution is the lease buy back where resident got the “enbloc” compensation while still able to stay on.
@StackedHomes 2 жыл бұрын
Thanks for sharing your thoughts!
@ongsteve4726 2 жыл бұрын
LKY said our HDB is an asset an it ends to zero so sad.
@ongsteve4726 2 жыл бұрын
Private property owners enblock become rich but HDB owners enblock is very sad. Someone responsible must wake up.
@bigno1900 2 жыл бұрын
Very difficult to get the old folk to move. I talk to my parent about his lease decay flat. He bo chup .....just want to see his friends who are downstairs everyday.
@CSB-pu9mc 11 ай бұрын
When one gets old and money is no longer the priority, friends and time spent with family outweigh all other factors. There are times in life that we follow our heart while letting what is sensible and logical overwhelms us. When we close our eyes, all is nothing but just experiences.
@zhen86 10 ай бұрын
It is his house, his decision to stay at his forever home. lease decay? it will still have at least 40 years left when he pass on, so lease decay will not affect him and the unit he bought must be less than 15k.
@domimatrix 2 жыл бұрын
Very informative. HDB should pay attention to this old flats. Growing old in older estates with not much savings / high cost of living seems to be a growing problem in Singapore. We need help!
@StackedHomes 2 жыл бұрын
Thanks for sharing your thoughts!
@mynameisusedz 2 жыл бұрын
Maybe a good middle ground is at the 0 year mark, give a final +20/30 year lease top up scheme where existing owners will pay upfront additional lease but can no longer resell the flat or resell the flat to new owners who also get the additional lease top up but also can no longer resell the flat. Upon passing, balance lease will be returned to the NOK and HDB can use as rental flats. This way there is some price discovery in the cost of the additional lease, an option for the residents and certainty to the people, all while ensuring our land isn't under utilised.
@StackedHomes 2 жыл бұрын
Thanks for sharing your thoughts! Quite an interesting one!
@prime8krish 2 жыл бұрын
Really love the suggestion, hope you can send it to HDB for consideration.
@sgcitizen1063 2 жыл бұрын
Lease renewal is not a good option as the building and interior would have age. A better scheme is for HDB to use rent per month to compensate the owners. For eg 20yrs remaining for a 4room HDB which can command a rental of $1200, the payout would be $288K, owner(s) can use the money and leave with kids to retire or buy a HDB studio flat. HDB then takes back the land and redevelop with another new lease of 99yrs to sell to new couples....
@StackedHomes 2 жыл бұрын
This is quite similar to VERS then, if the area as a whole votes for it. Details on the compensation isn't out though!
@rocketsteel 2 жыл бұрын
You must include CPF in the HDB lease discussion. Both are part of retirement planning.
@mikey3672 2 жыл бұрын
In my opinion we are going to have a property crash in about 10 to 20years. Just like what he said, there will be too many people who will inherit their parent's houses and since you cant own two property (in which one is a HDB), we going to have a wave of people trying to get rid of the houses as quickly as they can.
@StackedHomes 2 жыл бұрын
Yes. Perhaps this was factored in by the Singapore government but the timing could've been off, partially explaining the run up in property prices.
@gnohzgnohz3578 2 жыл бұрын
There is always privatisation! and given Singapore attractiveness as a stable economic hub attracting talent and wealth all over the world, I think a crash is unlikely, provided Singapore economy and employment is manage well perpeatually!
@prime8krish 2 жыл бұрын
The crash is unlikely, as the both the population numbers and the rules for not allowing to own more than one HDB can be changed. So, all can be controlled, and nothing can be predicted upfront.
@babibrain 11 ай бұрын
No one ask you to own 2 HDBs, just keep the best HDB and you are good to go.
@jironghuang4895 2 жыл бұрын
Yes
@tancolvis5240 2 жыл бұрын
Then it be a depricating asset not gain
@douglaskaicong131 Жыл бұрын
No private please , price is too dam high already , every singaporean be unable to afford house will become like hongkong.
@kevinlim7974 2 жыл бұрын
Great analysis listing the different possibilities! I think whichever way the government decides, it is going to be a politically charged topic.
@StackedHomes 2 жыл бұрын
It will be very politically charged!
@ifuknjk 2 жыл бұрын
like 100 years lease of cheap water from johor...it is zero...or 50 years one country 2 system..or 999 year lease or 30 year lease.
@Humorousguy64 4 ай бұрын
Gov ties some of our hands n legs with many rules that forbids many to able change or apply now homes ...what can we do?
@cybergod77 Жыл бұрын
Interesting point on the possibility of housing your parents when their property lease expires
@jameslaiong Жыл бұрын
If hdb flat ownership can be considered as long term rental. Is it prudent to use cpf savings to pay for the flat ?
@Jason-pp9go Жыл бұрын
Singapore got HDB goes into 99 years?😮
@gohck9440 2 жыл бұрын
could this be a possibility - HDB top up its head lease with the relevant authorities, and then the top-up premium is shared equally by all flat owners? This way you get an extension of lease.
@prime8krish 2 жыл бұрын
what happens if the porperty itself ages that that it need to be reconstructed?
@liamporter1137 Жыл бұрын
It's not fair. Imaging that family who paid more than one million and then become zero when 99 year is reached.
@beautifulphoenix Жыл бұрын
If the family had money to burn paying so much for a property with a low remaining leasehold, then they shouldn't complain. They should have done their homework first and not have been swayed by sweet sales talk. I doubt they'd have bought the property with their eyes closed.
@MED-fe1qt 5 ай бұрын
Why is it not fair? The terms are clear. You enter into the agreement when you purchase it. No one has forced the buyer to pay that price. You’re not forced to buy it, you can walk away and pay for something else. It’s ridiculous to cry that it’s “not fair”. What are you? 5 years old?
@emiliaason Жыл бұрын
Can ask will tanjong pagar Plaza get en bloc?
@wenhailoke5510 2 жыл бұрын
perhaps will adopt the COE scheme. Pay a sum to top up 10 more years
@StackedHomes 2 жыл бұрын
Perhaps! Thanks for sharing your thoughts!
@lisamayching3552 2 ай бұрын
Any leasehold property around the world does not go back to zero after 99 years. Spore private 99 leasehold property also go back to zero , what more for public housing. SERs / VERs is akin to private sector Enbloc - the difference being one is initiated by the estate residents viz a vis HDB solely at the discretion of authorities.
@gladysloy5780 2 жыл бұрын
Future generations, a possibility many will inherit housing and insurance payout from their parents too esp those with just 1 or 2 kids. Will this drive up the property prices with future generations inheritance
@gnohzgnohz3578 2 жыл бұрын
Either that or they maybe a capital flight
@terence3908 2 жыл бұрын
leasehold is a scam
@pingping9410 2 жыл бұрын
As sentiments of some AMK residents have shown SERS is no longer viewed positively. The issues, of VERS, highlighted by you, are actually happening to the AMK SERS. The future VERS may divide the residents (similar to incidents which had happened to some condo being en-bloc). Whether VERS or extension of lease beyond the 99 years (provided the infrastructure holds up), it will always be politically charged because of the promise of an asset enhancement scheme by the ruling Govt. What is your opinion of a public housing cum retirement village model? Not only are we experiencing an aging population but also increasing number of elderly with no relatives to take care of them during their final years. Hence, a scheme to exchange existing HDB flat for a govt managed retirement apartment / room with amenities such as health care (physiotherapy, dialysis etc) and activity centres located within the "village" yet with some element of "independent living" / active aging. Will this be a better option for the aging population to exchange their bigger flat for better facilities?
@StackedHomes 2 жыл бұрын
You raise a really valid point to think more about! The recent AMK SERS has highlighted that not everyone is pleased with it. Now as the lease difference increases since flats only get older, the topic of "topping up" will rear its ugly head again and again. The HDB has to think of ways to push for nation building while not putting Singaporeans at such hardship. Perhaps this would be a topic we'll explore - the idea on facilities does make sense and is worth exploring, but in the end we think it just boils down to space and location.
@zhen86 10 ай бұрын
Lets compare with woodland SERS then. Marsiling HDB flats' acquisition: Little to no top-ups for new replacement flats.
@AAA-vu3dq 2 ай бұрын
Can I consider the Lease Buy Back Scheme, please? Thanks
@suivzmoi 2 жыл бұрын
can you provide Bala's curve in data table format?
@StackedHomes 2 жыл бұрын
Hey hey! Drop us an email at hello@stackedhomes.com and we can provide it to you. Thanks!
@wongkokkiong4847 3 ай бұрын
Not just simply a problem for house after 99years , how about money that we borrowed from CPF for house load?
@user-dw3od3jo6m 4 ай бұрын
The only real solution is for the lease to never appreciate, and only depreciate in line with the remaining lease. A BTO price should be it's peak price in a flat's lifetime. That covers literally everyone except speculators.
@babibrain Жыл бұрын
The price will depreate at the end of the least. Anyway btw when the time comes, we are not around. So just enjoy and don't worry so much
@CSB-pu9mc 11 ай бұрын
I inherited my parent's flat and it has a remaining lease of 43 years. I would be almost 100yrs old by then. Let the living worry while I stretch my pair of legs and enjoy watching how heaven looks like in the ground 🤣
@firefly4326 6 күн бұрын
When you say there are some degree of involvement in private developer; how accurate is this? At 100% rate? What are the sort of the percentage that 99 years old will be converted? And which area? These are not proven theories. As a fact, it is net $0 dollar for a 99 year hdb.
@Humorousguy64 4 ай бұрын
Hope gov watch yr clips n plan something good for average and low income home owners
@EventH 2 жыл бұрын
My HDB lease will expire if I live to >115 ... should I be concerned about lease decay if I don't intend to move? (aka this will be my last home)
@StackedHomes 2 жыл бұрын
Not really actually!
@keenkeenli5683 Жыл бұрын
Vers compensation is very little $😅
@bldbld3697 Жыл бұрын
Lease Renewal will not happen because most HDBs were designed to last 100 years. The amount of renovation damage, wear, and tear makes a 100-year-old HDB too risky to stay in.
@StackedHomes Жыл бұрын
Great point. There'd be a need to at least ensure the structural integrity of the building.
@elianeangie6747 2 жыл бұрын
I wonder why property tax amount don't fall yearly if the property value drops by the year. 🤔
@StackedHomes 2 жыл бұрын
Hey! The tax goes by rental value which doesn't fall as the lease falls. Smart way to charge tax huh 😂
@dorreenang9867 2 жыл бұрын
Hello, how about private condo, can do one video for private condo !
@StackedHomes 2 жыл бұрын
Hey! For private condos, generally there's only 2 routes. En bloc or let the lease run to 0. We'll see how we can churn this into a video!
@user-xh4zd6bf9m 2 жыл бұрын
A HDB is no longer an investment. It will depreciate. Growing old one cant depend on your flat for retirement
@StackedHomes 2 жыл бұрын
Yup! HDB should never have been seen as one, though it pretty much was!
@justfair7399 2 жыл бұрын
@Ben, who is forcing you to buy one? You are too self entitled. Who owes you anything? Grow up if you are old...maybe too late.
@zhen86 10 ай бұрын
HDB is no longer an investment when you bought one less than 80 years old. look at the BTO being build and how much they sell for second hand? a DBSS at Boon keng is $400k++ when it was brand new, and now it has been sold at $800+k.
@LonganLee Жыл бұрын
Many in their 30,40s i talked to believe without evidence the old flats will all get EnBloc , free house to replace old one f.o.c. I asked them, where did you get that info? Where will the billions come from. Then they kept quiet. Education system . Sigh😅
@et8633 2 жыл бұрын
No one really owns hdb. You're just renting it.
@Humorousguy64 4 ай бұрын
3 and 4 room flats especially should let them move to new flats with at least help of deposite non cash payments or sure downpayment loan as this will ease owners with stresses of finding cash .. owners still needs lots of money when move in to new homes . I pity those owners that had never been able to move house cos of many restrictions abt moving to new homes or change to smaller ones cos of bank loans for senior ... only 3 to 4 rooms low and average income home owners gov should forcast .. many reall are force to rent their rooms out for survival....not for extra cash for enjoyment
@williamwong5627 17 сағат бұрын
Why I worth nothing when I die? Same same.
@mrtienphysics666 Жыл бұрын
"We intend to keep the value of these homes up, it will never go down. Because it will be renewed, the surroundings will improve, and as Singapore prospers, GDP goes up, the value of homes will go up." Lee Kuan Yew 2013
@mcube719 7 ай бұрын
🤣🤣🤣.....son u've been scammed
@saigo1718 Жыл бұрын
So many condo.. some cannot get enblock
@StackedHomes Жыл бұрын
Yes there are a lot of condos in Singapore!
@Humorousguy64 4 ай бұрын
Flat fully paid ...still need pay property tax? ...logical?
@thomastan7511 Жыл бұрын
SER will take over by then.
@mindful47 Жыл бұрын
There is no security living in Singapore.
@JehoiachinReleased 2 жыл бұрын
In regards to your point on private developers unable to en-bloc HDB flats, could you explain how the flats at Kampong Silat has develop into a condo development, Avenue South Residence.
@thetomicatable4987 2 жыл бұрын
It’s a 2012 SERS project
@zhen86 10 ай бұрын
All HDB that has turn condo will have to be either be SERS and land resold to condo developer or is actually a HUDC that has been turn private and en-block by condo developer.
@yuntingtan5855 2 жыл бұрын
Can you do one for condo too??
@StackedHomes 2 жыл бұрын
Thanks for the feedback! Will take note 👌
@nichcheam 2 жыл бұрын
Your 99 year condo will be worthless when it hits 99 years. Saved stacked homes the wasted effort in making another video on this topic.
@PPI317 2 жыл бұрын
Pte condo 99Y most if not all will get enbloc when it lease run down by 40-50 years, for hdb only 5% will undergo SERS. So risk for hdb is higher while pte developers can come in enbloc a 99 pte.
@justfair7399 2 жыл бұрын
@@nichcheam If you own it forever, how are future generations going to own homes.
@LonganLee Жыл бұрын
❤Hard or Soft question to Investment experts : 1. Must hdb flat be demolished after 99 years ? Is it a Hard problem , that is, an engineering, structural issue or constraint? 2. Is LEASE PERIOD purely Artificial? If so, lease can be extended after 99 years. So, is lease a Soft issue? 😅
@LIchtlavida 2 жыл бұрын
Everyone shld take it that after 99 yrs u need to pay for a new flat, that is if you are still alive. If u want to pass it to your children then work harder get a freehold.
@StackedHomes 2 жыл бұрын
Yes, that's basically what a 99-year leasehold is at the end of the day. You pay for a 99-year leasehold price today,, if it were freehold, it would've costed more!
@lingxinru6777 Жыл бұрын
So should we move to Malaysia to buy a Free-hold property?
@roboticsforfun5000 Жыл бұрын
Yes, I think my million $ HDB flat will go to $0, that should happen if I live to 110 years old. I am so looking forward to live until I die in it. 😀I hope never kenna SERS.
@beautyandthesimp 2 жыл бұрын
You get kick out. The land is redevelopped
@StackedHomes 2 жыл бұрын
Most likely!
@sixcentram9756 3 ай бұрын
Hdb flat will convert to freehold..
@kierangan7944 2 жыл бұрын
What about 99 years leasehold private property like condos etc?
@StackedHomes 2 жыл бұрын
There's a good chance they can go for an en bloc. But theoretically, when the lease runs out, it'll also be worth $0 and the land would revert to the freeholder.
@Zendefone Жыл бұрын
HDB is for affordable housing, not for investment/profit. What is so hard to understand? HDB is already heavily subsidied using taxpayer's money which are meant for the needy who can't afford basic neccessities, not for HDB owners to earn profit. Want to profit? use your *own* money to *invest* and not *taxpayers' money*. Simple as that.
@StackedHomes Жыл бұрын
Thanks for sharing your thoughts!
@patrickloh6367 2 жыл бұрын
The most important is to have good and strong government financially is sound therefore the government can do good jobs for his people,otherwise no money no action.
@StackedHomes 2 жыл бұрын
Well said!
@wendyshoowaiching4161 Жыл бұрын
You renew another 99 years tenancy by paying the government a fix fees.
@StackedHomes Жыл бұрын
That could be one way, and likely the building needs to be rebuilt or re-inforced too.
@foocheehow4795 2 жыл бұрын
Be realistic u will not around after 99 years lease. The owner will be dead by then. So r u saying the dead owner will come back n live.
@brandonkuay 2 жыл бұрын
Most of us don’t lived so long.
@ocswoodlands 2 жыл бұрын
what happens at Year 0 of the property lease is simply dependent on POLITICS. A govt can be dead serious about zero value in 2022 and the same govt can also be dead serious about enbloc in 2042 if the political margin is thin... its simply about survival. What the govt THINKS is the point where the population will vote it out....
@StackedHomes 2 жыл бұрын
Good pointers! Thanks for sharing!
@KevanMajere33 2 жыл бұрын
Define politics
@kengleetan63 2 жыл бұрын
There is some serious mis-information about your video. You make the assumption that depreciation of HDB in the coming yrs will not nose dive. Wrong. This was true in those decades ago but if you look at the real number of flats built from 1980 to late 1990s, this is where the sheer large number of flats were built back then. To give a estimate which someone did research into the numbers , it was well over 550,000 flats of all types, having lease shorter or less than 60 yrs in 15 yrs from now. With such numbers ,the gov sure would not be able to offer any viable rescue package for these group of folks but for them to eithier sell it off cheap, if they can or do lease buy back scheme by HDB with is subject to their approval. Eithier way, most of these owners only have that one roof over their heads and it is not that after selling off their old HDB, they can afford to retire and live elsewhere. As to extending their lease with a top up sum, most of these flats already have serious maintanence issues as in such older flats and doing so might be penny wise pound foolish and have consequences that goes way more than dollars and cents( eg collapse of concrete sturctures which did happen). For those who have not woken up to these facts and are owners of such units, i guess the right analogy for them would be like a ostrich sticking its head in the sand and what they don't see or hear, would not affect them!!😆😆😆😆😆
@StackedHomes 2 жыл бұрын
Hi! We need to consider that the older folks who are living in these flats will pass on, and these HDBs would be willed to any of their loved ones left behind. Due to how strict HDB ruling is, the HDB may need to be disposed of since the children would likely have their own place. For the folks who start seeing their HDB depreciate in value, it may be the case of not needing to sell and retire elsewhere too, as the HDB already provides a roof over their head and is all they really need. In the end, the HDBs cost over its lifetime would still be cheaper than paying rent elsewhere, up until perhaps the last few years of its life when the monthly cost of the property gets closer to the rental value. Of course when the property price would start to nosedive is a mystery as it hasn't happened yet, but the price depreciation wouldn't "nosedive" in the sense that 10% of the value drops in 1 year. It'll likely depreciate over the years at an accelerating until it reaches 0, with the new buyers of old property going in well aware that prices are moving down in this fashion. So we think the scarier part is that younger folks are buying these really old HDBs - and if they do this hoping for a price increase, then it would be very risky and I would say that's akin to burying one's head in the sand and hoping for things to work out. If they're buying with their eyes open knowing that money should be made elsewhere, not from their HDB, then that's okay. But for the older folks who are already staying there, they'll likely not outlive the remaining lease so they aren't as naive as one would think. After all the minister already said it'll go to $0 when the lease is up 😂 It's just something people have to / or have accepted.
@JSharap 2 жыл бұрын
Kosong...
@StackedHomes 2 жыл бұрын
👌
@John-us9rm 2 жыл бұрын
There are always option if you don't limit your scope only in Singapore.
@StackedHomes 2 жыл бұрын
Yup! Don't limit yourself!
@leowzhilin 2 жыл бұрын
How do u even begin buying properties in other countries?
@nichcheam 2 жыл бұрын
It’s concerning that people don’t understand the definition of 99 years. It’s a very very very simple contract.
@StackedHomes 2 жыл бұрын
Good point! Thanks for sharing!
@gnohzgnohz3578 2 жыл бұрын
If u are looking purely at black and white without concern for emotion and social economic impact on people life and retirement saving and net worth sure it's simple!
@tanchye1720 4 ай бұрын
1. I think HDB will demolish flats after 99 yrs and re-built new flats for a much larger profit. After 99yrs HDB can take back the flats at $0 cost. 2. Re-selling old flats after 99 yrs, the profit is low for HDB and lease needs to be extended. 3. The structural integrity of the building might be at risk, leaking, concrete spalling, etc. after 99 yrs. 4. By 99 yrs I will be re-located to Haven Development Board (HDB) for sure. 😇 …or Hell Development Board.👹
@mahandranparamasivam73 9 ай бұрын
Throw Singaporean
@the50dollarsman Жыл бұрын
SERS will come in to save the days!
@StackedHomes Жыл бұрын
Thank you for sharing your thoughts.
@steventay5834 Күн бұрын
Yes. Zero value
@cdang8742 4 ай бұрын
Lousy explaination, trying to complicate matters. DPM Lawrence Wong already say it will be return to the state as it is part of our reserve. So pls....
@DonYang73 2 жыл бұрын
Answer : Abo then? Of course it is fair. Otherwise? Any other result will be against the law on which it was built. Time wasting video.
@StackedHomes 2 жыл бұрын
Hey! Thanks for your feedback. Perhaps this video is not meant for you as we do get these questions asked. Feel free to explore our other videos. Thanks for dropping by!
@cheongwenpa 2 жыл бұрын
The 99 year private property will be in worse situation as government has no vested interest to please the private property owners. Then why are people still buying lease hold condo ?
@StackedHomes 2 жыл бұрын
Hey! Well leasehold condos tend to be more affordable than their freehold peers, and can also provide their facility needs. There's also a possibility to self-initiate an en bloc process too.
@fool1124 2 жыл бұрын
i don't see why it's a big deal. don't like it don't buy
@stayprepared2388 2 жыл бұрын
Will u still be around after 99 years ?
@StackedHomes 2 жыл бұрын
Depends if you buy old flats or not. A lot of young people are buying older flats today. Cheaper and bigger. But have to consider the potential capital loss and difficulty in buying another property later.
@ericcheong7192 2 жыл бұрын
Hard to say. My hdb in circuit road is very old. When reach 99years, I am 84, chances I may still around. Then I need sleep in garden liao. 🤣
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