Flats are only 99 yrs hold?
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Originally posted by InnoHippo:yupe ....... they will mobilise all NSmen to chase citizens out of their "expired" flats
zhen de?
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its not can force its will force dudeOriginally posted by Axelheat755:is this true that after 99 yrs, government can force u out of hdb flats that u paid for?
oh and i guess well come to the harsh realities of life in singapore -
Defend SG for 2 years, Rent a Car for 10 years , Live in a Flat for 99 years
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HDB flats are all 99 yrs leasehold, even Exec Condos. So after 99 yrs up, you are to return to HDB your flat and get your butt to live elsewhere.
In reality, HDB flats get en bloc about 25 to 30 yrs and the lease would start over and you have to pay for the upgrading. This is the govt's way to ensure revenue, apart from the 'rent' collection monthly.
For private property that are 99 yrs leasehold, you can throw money to the govt and top up the lease. Govt is pretty ok with that for now.
For freehold, although you need not throw money to govt to own the property but after 25 to 30 years, your property becomes so run-down, you need upgrading as well. You would have to spend money for upgrading as well. No difference.
In any case if govt needs the land where your freehold property is, they will tell you to get lost by paying you off. So no such thing as owning a property in Singapore.
The humid weather in Sg ensures gov would would not be outta money as flats needs upgrading. It's all carefully calculated by the government already to ensure constant flow of revenue for the govt from property.
IMO, renting a property long term would be the best way to go and you don't pay maintainance fees and property tax as a tenant. This Asian mentally to 'own' a place needs to change. Nobody 'owns' any property in Singapore.
Since it's renting from the govt for 99 yrs, why not rent it from others instead of govt. You save a hell of a lot more! -
hmm which is more expensive? renting a 4-room apartment near woodlands regional library @ 1 k/mth, electricity bills not included. or "buyin" that place?Originally posted by Homebody:HDB flats are all 99 yrs leasehold, even Exec Condos. So after 99 yrs up, you are to return to HDB your flat and get your butt to live elsewhere.
In reality, HDB flats get en bloc about 25 to 30 yrs and the lease would start over and you have to pay for the upgrading. This is the govt's way to ensure revenue, apart from the 'rent' collection monthly.
For private property that are 99 yrs leasehold, you can throw money to the govt and top up the lease. Govt is pretty ok with that for now.
For freehold, although you need not throw money to govt to own the property but after 25 to 30 years, your property becomes so run-down, you need upgrading as well. You would have to spend money for upgrading as well. No difference.
In any case if govt needs the land where your freehold property is, they will tell you to get lost by paying you off. So no such thing as owning a property in Singapore.
The humid weather in Sg ensures gov would would not be outta money as flats needs upgrading. It's all carefully calculated by the government already to ensure constant flow of revenue for the govt from property.
IMO, renting a property long term would be the best way to go and you don't pay maintainance fees and property tax as a tenant. This Asian mentally to 'own' a place needs to change. Nobody 'owns' any property in Singapore.
Since it's renting from the govt for 99 yrs, why not rent it from others instead of govt. You save a hell of a lot more!
when u rent, the contract is usually for a year.. unless the owner plans to leave the country. the contract might be longer, of a few years.
Unless u're prepared to move ever so frequently, then i guess it's pretty alright to rent
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The advantage of owning freehold is that your kids/ descendants don't have to pay housing loan, they just have to do minor renovation/ upkeep.
Most freehold properties esp. landed are well built, with little defects.
My aunty's hse. is over 40 yrs., foundation still very strong. She only did repainting & retile. -
but that is so out of reach....Originally posted by gerrykoh:The advantage of owning freehold is that your kids/ descendants don't have to pay housing loan, they just have to do minor renovation/ upkeep.
Most freehold properties esp. landed are well built, with little defects.
My aunty's hse. is over 40 yrs., foundation still very strong. She only did repainting & retile.
*shinta looks at hw much she earns every mth*
i no money
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But actually hor, even free-hold not entirely "free" also. It's yours so long you pay property tax.
Try not paying the property tax, and you`ll find out who actually owns the property
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farking gahment can force u out ANYTIME!!!!Originally posted by Axelheat755:is this true that after 99 yrs, government can force u out of hdb flats that u paid for?
u DON'T own the hdb flat that u fully paid for!!! (Go figure)
farking pigeon hole farking overpriced!!!
subsidies my head ah!
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Say your 4 rm HDB flat cost you $200K, is 110 sq metres and there are 10 flats vertically. Now, take the $200k and x 10. That equals 2 million for that small pathetic plot of 110 sq meters of land!
Does the concrete and that small piece of land cost $2 millions for 99 years??
Some will argue, the $200k also pays for the surronding roads and carpark. But if that is true, then there should be a free carpark for each flat. Is there?
In addition, you have to bear with all the noises from garang guni, neighbours drilling holes, thinking there are gold bars in the wall, kids crying, etc etc.
No wonder people are emigrating... -
It's either u pay a load of cash and get to own a roof over yr head for 99 years or u live on the streets.
But there's also 999yrs leasehold, but that doesn't seem to be the case anymore. -
Bah. I started trying to reply to the posts talking about our fantastic government built housing, amenities, and comparative low cost being able to LIVE in a home (rent or otherwise) compared to similar cities...yadda yadda..
then I realised its pointless. It's difficult to point out the bigger picture to people who prefer to only look into windows instead of out of. -
jin gy leh, 99 then 99 loh, majiam u gonna live from Yr 1 til Yr 99...1/2 to 2/3 down the road u already 6feet under liao mah....
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singapore is only 40 this year.
say 50-100 years later many or most flats will reach 99 years i wonder what it will be like for those who have to return their flats?
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Normally they will redevelop the area..Originally posted by Axelheat755:is this true that after 99 yrs, government can force u out of hdb flats that u paid for?
But need not necessary be 99 yrs nowadays -
I think HDB tored down some flats that were less than 40 years a few years back. 40 years and you are KO!Originally posted by sbst275:Normally they will redevelop the area..
But need not necessary be 99 yrs nowadays -
Even for private freehold property, the government can force you to give up part of your land.
That is what happened to my friend and he was so pissed off
The government took part of his yard for road building and gave him some measly compensation. Now that they don't need it, they offer it back to him at an inflated rate.
Now that is a good way to make profit don't ya think? -
that's why dun buy when you're young. wait until middle age, more worth it.Originally posted by chunyong:jin gy leh, 99 then 99 loh, majiam u gonna live from Yr 1 til Yr 99...1/2 to 2/3 down the road u already 6feet under liao mah.... -
my friend flat got tored down and the government make them move to those new block 2 street down their old one.
they still need to pay for the new flat which government force them to live in. -
My friend said its ok to buy now. Get the first subsidised one, stay 5 years, then sell and migrate. He said must get the subsidy. Its our forefathers, including our parents' hardearned money. If don't get, du4 bu4 qi3 lie4 zhu3 lie4 zhong1.Originally posted by Mr Fugue:that's why dun buy when you're young. wait until middle age, more worth it.
Very kua zhang but I think what he said is quite correct. -
thats how they make moneyOriginally posted by digicharat:my friend flat got tored down and the government make them move to those new block 2 street down their old one.
they still need to pay for the new flat which government force them to live in. -
Want to sell away hdb house in 5 years?....Originally posted by Cindyfeh:My friend said its ok to buy now. Get the first subsidised one, stay 5 years, then sell and migrate. He said must get the subsidy. Its our forefathers, including our parents' hardearned money. If don't get, du4 bu4 qi3 lie4 zhu3 lie4 zhong1.
Very kua zhang but I think what he said is quite correct.
Don't think that easy liaoz... u want to sell...someone must buy right?
in 5 yrs time there will be a 10% cash downpayment...imagine u want to buy a 250K hdb flat...unless u qualify for the HDB loan..if not take bank loan...you have to pay 50K in cash as downpayment...which is 10%..how many of us can afford?? then still got renovation leh...furniture leh...
Sighz!...... How to live in S'pore ah? -
we dun own any land in singapore... even if u have bought the land in an auction, the government can 'buy' back from u anytime...
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wow,this is really too much!Originally posted by elindra:Even for private freehold property, the government can force you to give up part of your land.
That is what happened to my friend and he was so pissed off
The government took part of his yard for road building and gave him some measly compensation. Now that they don't need it, they offer it back to him at an inflated rate.
Now that is a good way to make profit don't ya think?
but since gahment can sell a piece of paper for more than $10k (coe),im not surprised they do that...