A property that you really like but it has only 60 years left or your own property is already 40 years old.
The question we get every single time we’re selling this kind of properties is what happens at the end of the lease.
Unfortunately we don’t have a crystal ball that tells us everything well because his CV was established in 1960 and now it’s only 2020.
We have 39 more years to find out what really will happen some people have asked if HDB can top up the lease. Some people has asked if owners can privatize the flats especially the smaller clusters what we know for sure is at the end of the 99 years. It’s like bubble tea once we finish drinking that’s it there’s legally no more than you left.
There no hope now they may be sirs or selectively on block redevelopment but this is not like birthdays only selective gloss there may be only 5% in the whole Singapore that are suitable for this so what are the chances that that would be happening to you hey I hear you but the government is working on something called the voluntary early redevelopment program also known as first this means that when your plan hits 74 place you can get up all the friends and neighbors to consult it everybody together and offer to sell.
This is something to work in progress burst will likely be ruled out only in 20 years and if it happens only when your flat has gone past it’s empty birthday can you actually sell this back to the government so what do you think are the monies you can get out of it then now it’s awkward for thought for you to consider in your next property journey.