Tightening Use of CPF funds for Resale HDB Flats

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Tightening Use of CPF funds for Resale HDB Flats

Postby raysusan » Tue Jun 11, 2013 8:29 am

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby sleepy » Tue Jun 11, 2013 9:13 am

Meaning older resale flats price will take a beating.

No more sky high price for resale at Marine Parade and Tiong Bahru?

Especially those who bought expensive resale the last decade and those flats crossed the < 60 years remaining lease mark, capital loss to be expected, since buyers are likely to be resistant in buying older resale flats

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby looking4Tutor » Tue Jun 11, 2013 3:23 pm

This policy coupled with the online licensing policy really make Singapore Conversation a public joke and cheap way for them to garner ideas for their scholars.

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby cherrygal » Thu Jun 13, 2013 11:24 pm

sleepy wrote:Meaning older resale flats price will take a beating.

No more sky high price for resale at Marine Parade and Tiong Bahru?

Especially those who bought expensive resale the last decade and those flats crossed the < 60 years remaining lease mark, capital loss to be expected, since buyers are likely to be resistant in buying older resale flats


So these owners will have to wait it out for SERS to take place if no one will buy their homes.

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby sleepy » Thu Jun 13, 2013 11:34 pm

cherrygal wrote:
sleepy wrote:Meaning older resale flats price will take a beating.

No more sky high price for resale at Marine Parade and Tiong Bahru?

Especially those who bought expensive resale the last decade and those flats crossed the < 60 years remaining lease mark, capital loss to be expected, since buyers are likely to be resistant in buying older resale flats


So these owners will have to wait it out for SERS to take place if no one will buy their homes.


either negative sale or rent out if wanna move house

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby concern2 » Tue Jul 09, 2013 10:53 am

What happens if your lease is up? Have to come up with another few hundred Ks to by new flat?

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby hquek » Tue Jul 09, 2013 11:01 am

concern2 wrote:What happens if your lease is up? Have to come up with another few hundred Ks to by new flat?


So far no HDB flat has finished the lease. Based on history (properties that expired 99 year lease), likely that govt will allow such owners to buy new flats but I don't think there will be any compensation (cos no unused lease).

That's why I never think of hdb flat as my own - read the wordings carefully, "hdb owners" are lessees. for condo owners, it's "sub-proprietors". I paid few hundred k to HDB for rental on the flat I stay in.

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby sleepy » Tue Jul 09, 2013 11:03 am

concern2 wrote:What happens if your lease is up? Have to come up with another few hundred Ks to by new flat?


I suppose impact not felt for our generation yet. Next generation political leaders will have to solve this lease expiring thingy because many HDB estates will be in that situation across the island.
My guess is likely have to pay to top up lease? Government can't be demolishing the entire AMK, TPY and many more, right?


For sure, a HDB flat with expiring lease is not going to be part of your legacy for your children

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby ngl2010 » Tue Jul 09, 2013 12:30 pm

sleepy wrote:
concern2 wrote:What happens if your lease is up? Have to come up with another few hundred Ks to by new flat?


I suppose impact not felt for our generation yet. Next generation political leaders will have to solve this lease expiring thingy because many HDB estates will be in that situation across the island.
My guess is likely have to pay to top up lease? Government can't be demolishing the entire AMK, TPY and many more, right?


For sure, a HDB flat with expiring lease is not going to be part of your legacy for your children

We will have one inherited from pil. If nobody wants to buy, we can only rent it out. Does it mean that the estate will attract a lot FWs? The thought of it makes us sad...

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Re: Tightening Use of CPF funds for Resale HDB Flats

Postby Coolkidsrock2 » Tue Jul 09, 2013 1:03 pm

Owners under SERS will get a new flat which will come with a new lease.

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