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25-08-2017, 07:48 PM | #1 |
Senior Dragon
Join Date: Mar 2002
Posts: 3,495
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enbloc may not be a good deal
I know many rent and wait for price drop, when price go up after a few years they end up downgrade from condo to hdb.
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25-08-2017, 08:04 PM | #2 |
Prof SK Ong
Join Date: Jan 2009
Posts: 10,641
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Only good deal if not your residential home.
Selling private home in en bloc is zero sum game : unless downgrade (size/location) when new home. SERS of hdb lagi worse. Only lemmings think they huattt.
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25-08-2017, 08:24 PM | #3 |
Senior Dragon
Join Date: Mar 2002
Posts: 3,495
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My ex boss used to own euno hudc, I think she get 2.2MIL. This case confirm earn.
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25-08-2017, 09:32 PM | #4 |
Prof SK Ong
Join Date: Jan 2009
Posts: 10,641
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Similar sized, 99 years leasehold replacement unit in same area, how much to buy as replacement home?
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26-08-2017, 01:09 AM | #5 |
AFC Member
Join Date: Apr 2004
Posts: 769
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It's quite subjective.
Lets take Serangoon Ville as a case study. Lease starts in March 1986 for 100 years, balance slightly above 68 years. Units size averaged between 1600 sf to 1700 Sf. The last transaction before enbloc was in November 2016 at $950k. Each unit got around $2,0xx k for the enbloc. Let's do a simple calculation for comparison. $2 Mil / 1,650 sf / 68 years = $17.xx New development like Forrest Woods next to Nex, assume psf at $1,700. $1,700 / 99 years = $17.xx. By this comparison, enbloc has actually freed up the value of the property for current owners. Last edited by AroHong; 26-08-2017 at 01:11 AM. |
26-08-2017, 05:35 AM | #6 |
Senior Dragon
Join Date: Mar 2002
Posts: 3,495
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The unit is probably a standard masonitte and the valuation need to take into consideration the privatised space of the estate. $2.2 mil probably can buy at lease a 1500square feet freehold condo in that area. She is 70, so going buy a resale 3 room hdb at old airport road and retire.
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26-08-2017, 05:38 AM | #7 | |
Senior Dragon
Join Date: Mar 2002
Posts: 3,495
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Quote:
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26-08-2017, 06:57 AM | #8 | |
Arofanatic
Join Date: Jun 2003
Posts: 113
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Quote:
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26-08-2017, 08:58 AM | #9 | |
AFC Member
Join Date: Apr 2004
Posts: 769
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Quote:
What will the selling price per square feet be when they start to sell in 1 to 2 year''s time at this 'not so good' location? |
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26-08-2017, 11:18 AM | #10 |
Dragon
Join Date: Mar 2003
Posts: 1,181
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If u have a 2nd property to stay is good.
I know of an ex colleague, enbloc got $2m+. But bought another new unit also $2m+. So it was like even out. Never earn but go through a the hassle. Only the lawyers n marketing agencies earned fees. |
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