what happen to your house 99 years later

[nemesis]

any idea wat will happen to HDB houses and lease hold propertiess after 99 years? will there be a refund or rebate?

[Tanzy]

You really expect the building to last 99 years? Most probably there will be enblock sales before that or the government can just gazette the land and give you $1 for the trouble.

[terryansimon]

say hello to enbloc sale and resettlement.

or $1 compensation like those folks in my old condominium got. that one different though. because the car park had to be taken away for circle line of MRT.

[riot]

Will be a political dynamite if PAP kick out a bunch of old folks after 99yrs. What they will do is find some reason to relocate you, maybe say after 30-50 years, and charge you the material cost for building the new flat by saying you need to pay for "upgrading" - extending your lease in a new location. That way they own the land, move the population around at no cost, and motivate the people to constantly strive since you would have wiped out your CPF and owe the bank money.

[nemesis]

yee... singapore sucks. must as well rent a flat...

what about freehold props? they cannot touch these type of property right?

[bum]

nemesis Posted on Dec 4 2003, 11:15 PM

  yee... singapore sucks. must as well rent a flat...

what about freehold props? they cannot touch these type of property right?

nope, the govt can still take back the land

if its in the interest of the nation

and yes...its still $1

[IanJ]

Its an interesting topic. Seems that a 99 year lease private property is a bit like buying a car in terms of depreciation. Buying price divided by the number of years = depreciation/year. I cant see that an en-bloc sale is of any help, unless the land owner grants a new lease, little incentive for the developer.

Agree that the population will not be kicked out of home after 99 years for HDB properties. A continual upgrading/ moving program makes sence.

Just not sure about the 99 year lease private properties.

[hoppinghippos]

I tot you can renew the lease when it runs out?

anyway its always been known that in singapore we don't own any land, but we only rent the land from the government.

[Dazza]

http://www.lawonline.com.sg/faqs-purchase-property.htm

You mentioned freehold property and leasehold property. What does “freehold” and “leasehold” mean?

Freehold property means that you can own the property for ever.

Leasehold property allows the owner to remain in possession of the property for the remaining period of the lease. Assuming the title of the property is a leasehold estate for 99 years which commenced from 1.1.1995 and you purchased the property this year. It means that you can remain in possession of the property for 94 years.

[Dazza]

thats why freehold property usually commands a premium over leasehold ones

[bawater]

Freehold property means that you can own the property for ever.

Unless oil or mineral deposits are found under your location or within its boundaries. Which then the govberment may wish to offer a price for your location...which could be $1

Landed would be forever or until the walls fall down.

Private condos would be until everything that is holding you up in the air falls apart (which by recent building standards are not very long since the tender goes to the lowest bidding contractor)

[Tanzy]

Freehold condos are something I can never understand. Freehold piece of air?