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17-02-2022, 02:20 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
About 70,000 flats (of the 1-million HDB flats) are more than 40 years old, and almost 10 percent of flats will face lease expiry in 50 years. The Minister’s announcement essentially means that such flats will have zero value once it reaches 99 years and owners will have to vacate their homes. Most owners will see the land their flat was on being returned to the State at the end of the 99-year-leasehold.
The letter writer said that “many seniors who want to downgrade to Built-To-Order...
Read more (https://www.sammyboy.com/threads/the-ticking-time-bomb-of-the-99-year-leasehold-hdb-flats.316469/)
Click here to view the whole thread at www.sammyboy.com (https://www.sammyboy.com/threads/the-ticking-time-bomb-of-the-99-year-leasehold-hdb-flats.316469/).
About 70,000 flats (of the 1-million HDB flats) are more than 40 years old, and almost 10 percent of flats will face lease expiry in 50 years. The Minister’s announcement essentially means that such flats will have zero value once it reaches 99 years and owners will have to vacate their homes. Most owners will see the land their flat was on being returned to the State at the end of the 99-year-leasehold.
The letter writer said that “many seniors who want to downgrade to Built-To-Order...
Read more (https://www.sammyboy.com/threads/the-ticking-time-bomb-of-the-99-year-leasehold-hdb-flats.316469/)
Click here to view the whole thread at www.sammyboy.com (https://www.sammyboy.com/threads/the-ticking-time-bomb-of-the-99-year-leasehold-hdb-flats.316469/).