<![CDATA[Does it make sense to commit a 99-years lease private condo?]]>Hi


Currently, we are staying in HDB, and considering a second property. Last weekend, after lunch we drove around few fully sold near-TOP private condos in the West, for a gauge of how the property market like. There was this property agent who noticed our car & approached us. Briefly telling us the approx psf & price. As we have 2 kids, I asked him for the price of 3-rooms.......my god quoting me $1.1m :scared: somemore it is 99- years lease.

Does it really make sense to buy a 99-years lease apartment - esp when after 20 - 30 years & with the remaining years, do you think still can offload in above purchase price? Or is it considered a depreciating asset in the long term?

Appreciate your comment as I have neither the knowledge nor experience in this area, thanks.

]]>https://forum.kiasuparents.com/topic/38380/does-it-make-sense-to-commit-a-99-years-lease-private-condoRSS for NodeTue, 28 Apr 2026 06:00:13 GMTTue, 24 Jul 2012 00:26:27 GMT60<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Sat, 25 Mar 2017 08:22:10 GMT]]>We would buy freehold, but somehow the newer ones seem to come leasehold.

]]>https://forum.kiasuparents.com/post/1763576https://forum.kiasuparents.com/post/1763576Sat, 25 Mar 2017 08:22:10 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Mon, 05 Sep 2016 05:48:45 GMT]]>

floppy:
starlight1968sg:

Hdbs are also 99 years.

I think the current housing market is weak which means it is buyers or tenants at an upper hand.

Upper hand?
Tenants - yes.
Buyers - unlikely, unless the seller is desperate to sell.
The housing market may be weak, but it's also a low interest environment which means a lot of people have strong holding power.

Buyers can ask for a better (lower) price when buying

]]>https://forum.kiasuparents.com/post/1716799https://forum.kiasuparents.com/post/1716799Mon, 05 Sep 2016 05:48:45 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Mon, 05 Sep 2016 05:44:31 GMT]]>

starlight1968sg:
Hdbs are also 99 years.

I think the current housing market is weak which means it is buyers or tenants at an upper hand.
Upper hand?
Tenants - yes.
Buyers - unlikely, unless the seller is desperate to sell.
The housing market may be weak, but it's also a low interest environment which means a lot of people have strong holding power.

]]>https://forum.kiasuparents.com/post/1716797https://forum.kiasuparents.com/post/1716797Mon, 05 Sep 2016 05:44:31 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Sun, 04 Sep 2016 22:52:48 GMT]]>Hdbs are also 99 years.

I think the current housing market is weak which means it is buyers or tenants at an upper hand.

]]>https://forum.kiasuparents.com/post/1716693https://forum.kiasuparents.com/post/1716693Sun, 04 Sep 2016 22:52:48 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Fri, 02 Sep 2016 07:35:13 GMT]]>Hi IKid


Location is at Dover and near a good school. Hmm not too sure about condition and not sure if occupied by first owner as have not really look at the units.

It is purchased for own stay. I m worried that over the years, the value will depreciate and hard to sell off. Is it true I will get zero compensation (nothing at all) if the 99 lease is over and not being enbloc?

Ikid:
i3mum:

Hi all,

I needed some advice. I would like to check if it is worth buying a condo 15-20 years old? Will the condo price depreciate over time? And do condo get enbloc too?

Location good? Condition good?
Is the condo currently occupied by the original first owner ?
Purchase for rental? Purchase for own stay?

]]>https://forum.kiasuparents.com/post/1716110https://forum.kiasuparents.com/post/1716110Fri, 02 Sep 2016 07:35:13 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Fri, 02 Sep 2016 07:29:45 GMT]]>

i3mum:
Hi all,


I needed some advice. I would like to check if it is worth buying a condo 15-20 years old? Will the condo price depreciate over time? And do condo get enbloc too?
Location good? Condition good?
Is the condo currently occupied by the original first owner ?
Purchase for rental? Purchase for own stay?

]]>https://forum.kiasuparents.com/post/1716109https://forum.kiasuparents.com/post/1716109Fri, 02 Sep 2016 07:29:45 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Mon, 29 Aug 2016 07:43:07 GMT]]>Hi all,


I needed some advice. I would like to check if it is worth buying a condo 15-20 years old? Will the condo price depreciate over time? And do condo get enbloc too?

]]>https://forum.kiasuparents.com/post/1714683https://forum.kiasuparents.com/post/1714683Mon, 29 Aug 2016 07:43:07 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Sun, 07 Jun 2015 01:55:18 GMT]]>I have rented to locals, Japs, Koreans, Indian and British.


Only one that gave me a lot of problems was the Indian. Got calls from my neighbours from that unit complaining about the ruckus they were making. They were always late on rent and forever trying to re-negotiate.

Locals, no issues. Japs and Koreans were the best. Lease renewed with no issues. When they returned the unit to me, all was cleaned and they even did some touch ups. Some even gave a goodie basket when we did the final handover.

]]>https://forum.kiasuparents.com/post/1519550https://forum.kiasuparents.com/post/1519550Sun, 07 Jun 2015 01:55:18 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Sat, 06 Jun 2015 16:16:34 GMT]]>

GiftedGem:
We rented out to a Korean family who took good care of my unit for 2 yrs. Left couple of items like CD player, electric fans, study table, microwave and even their 2 doors fridge which was used for kimchi ( though I have provided them ours).


Had also had Jap tenants which they were considerate in engaging cleaners to return our unit in good order.

Now, crossing finger as we have rented to 4 China working adults for 1.5yrs who are formerly studying in NTU on scholarship and now working in Technology and Banking sector. Left another 6 mths before lease expires....
Noted on the Koreans and Japanese. Anyone rented to Russians, Canadians, Australians and Americans before? How r they like?

]]>https://forum.kiasuparents.com/post/1519436https://forum.kiasuparents.com/post/1519436Sat, 06 Jun 2015 16:16:34 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Sat, 06 Jun 2015 13:17:28 GMT]]>We rented out to a Korean family who took good care of my unit for 2 yrs. Left couple of items like CD player, electric fans, study table, microwave and even their 2 doors fridge which was used for kimchi ( though I have provided them ours).


Had also had Jap tenants which they were considerate in engaging cleaners to return our unit in good order.

Now, crossing finger as we have rented to 4 China working adults for 1.5yrs who are formerly studying in NTU on scholarship and now working in Technology and Banking sector. Left another 6 mths before lease expires…

]]>https://forum.kiasuparents.com/post/1519283https://forum.kiasuparents.com/post/1519283Sat, 06 Jun 2015 13:17:28 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 14:45:51 GMT]]>Hmmnnn…so far seems that rent to Malaysians least problems…

]]>https://forum.kiasuparents.com/post/1518371https://forum.kiasuparents.com/post/1518371Thu, 04 Jun 2015 14:45:51 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 10:48:09 GMT]]>Just be aware and careful. I knew someone who thought she was renting to ONE caucasian man working in a foreign bank. When she went to the unit, Caucasian was not seen but there was a united nations variety of many people who were staying there. Her estate agent also blur.


On Indian couple, a friend went through one year of enduring her tenants who insisted on cooking Indian cuisine and happily not clean up the house (oily stains, kid drawings on wall). Best is that tenant wifey is sahm but she doesn’t seem to clean the house.

]]>https://forum.kiasuparents.com/post/1518261https://forum.kiasuparents.com/post/1518261Thu, 04 Jun 2015 10:48:09 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 10:33:29 GMT]]>Actually it is a good idea to screen tenants. Just like how one would screen your potential hepers so as to gauge their personalities and what nots.


For my mom’s case, she always had Malaysian Chinese couples. She had no issues at all. And because they know she lives alone, the male tenant helps with the changing of the light bulbs etc …

The one time the room was a pigsty was when it was rented out to 2 sisters. They would also forget to off the water heater, lights etc …

The tenants occupying my flat right now is an Indian couple with one son. They are an absolute gem! We have had no issues with them.

]]>https://forum.kiasuparents.com/post/1518254https://forum.kiasuparents.com/post/1518254Thu, 04 Jun 2015 10:33:29 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 06:03:01 GMT]]>

sleepy:


Thanks for sharing!
Not easy to screen tenants huh :nailbite:

Have you tried to rent out without agent? Feasible?
Can use lease agreement on HDB website
I would think it's more on luck.. Some will write off certain nationalities...but I have Msian, Indian and China Chinese before...so far so good. Not all fm China no good. My HDB rented to those 'not so rich Chinese' but they are nice and decent people..they even tried to source for eg 2nd hand Aircon and washing machines then only tell me if I could bear the costs...I told them the new ones when on offer not so expensive and the 2nd hand ones usually are problematic stuffs..and they told me that there is x days warranty and after few days sure enough, too noisy..I asked them to return it and go look for offered items and they really go few shops to source..I was so touched.. Also has rich Chinese girls studying in private college as tenants and they never cook and has weekly part timer up to my condo to do cleaning..

]]>https://forum.kiasuparents.com/post/1518161https://forum.kiasuparents.com/post/1518161Thu, 04 Jun 2015 06:03:01 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 05:49:56 GMT]]>

sleepy:
Steadyberry:

If really renting out yr hdb, pls do not listen to yr agent. I made a mistake of listening to my agent. He told me to rent out to women only at a lower rate because the women will help me to take care of my house. All rubbish.


I rented out my 5-rm hdb to a few myanmar ladies. 1 accountant, 2 students studying medicine in nus & another woman. After 1 year later, my house was in a state that I need to renovate the whole house again. Maybe Malaysian ladies or small family is better but definitely not Myanmar.


Thanks for sharing!
Not easy to screen tenants huh :nailbite:

Have you tried to rent out without agent? Feasible?
Can use lease agreement on HDB website

I used my old agreement as reference 😉 last few batches no agent used as my tenants continue recommending other friends to take over new lease 😂

]]>https://forum.kiasuparents.com/post/1518155https://forum.kiasuparents.com/post/1518155Thu, 04 Jun 2015 05:49:56 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 05:43:41 GMT]]>

Coolkidsrock2:
TheAnswer:

[quote=\"Steadyberry\"]If really renting out yr hdb, pls do not listen to yr agent. I made a mistake of listening to my agent. He told me to rent out to women only at a lower rate because the women will help me to take care of my house. All rubbish.


I rented out my 5-rm hdb to a few myanmar ladies. 1 accountant, 2 students studying medicine in nus & another woman. After 1 year later, my house was in a state that I need to renovate the whole house again. Maybe Malaysian ladies or small family is better but definitely not Myanmar.

Thanks for sharing.

For me, definitely no no to students.[/quote]I ever rented my HDB to a few Masters students (male from India) but luckily they are the guai guai type. I rented to them coz my then agent recommended as he knew some of the guys.

]]>https://forum.kiasuparents.com/post/1518150https://forum.kiasuparents.com/post/1518150Thu, 04 Jun 2015 05:43:41 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 05:32:38 GMT]]>Aft Reno, we moved back into our hdb (when my ds was in k2) bec our blk is very near pri sch. Same as you, now consider moving again because of sec sch. Still not sure whether we should rent or sell our hdb. :offtopic:

]]>https://forum.kiasuparents.com/post/1518147https://forum.kiasuparents.com/post/1518147Thu, 04 Jun 2015 05:32:38 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 01:21:17 GMT]]>

Steadyberry:
If really renting out yr hdb, pls do not listen to yr agent. I made a mistake of listening to my agent. He told me to rent out to women only at a lower rate because the women will help me to take care of my house. All rubbish.


I rented out my 5-rm hdb to a few myanmar ladies. 1 accountant, 2 students studying medicine in nus & another woman. After 1 year later, my house was in a state that I need to renovate the whole house again. Maybe Malaysian ladies or small family is better but definitely not Myanmar.

Thanks for sharing!
Not easy to screen tenants huh :nailbite:

Have you tried to rent out without agent? Feasible?
Can use lease agreement on HDB website

]]>https://forum.kiasuparents.com/post/1517999https://forum.kiasuparents.com/post/1517999Thu, 04 Jun 2015 01:21:17 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 01:14:59 GMT]]>

lee_yl:

Part 1: Don't listen to the agent lah. He will get a lot more in commission for selling your 5rm than renting it out.

With the new HDB ruling, you can't buy back a HDB flat unless you dispose off your private property. But if you are a current HDB owner, you get to keep both. So think twice.

You should use the rental (HDB) to cover the mortgage of your private property mah.

When I'm young, stay in condo can enjoy the facilities, maybe 20 years later, move back HDB and rent out condo?

Part 2: Up to you. Be mentally prepared to say bye bye to your nicely renovated flat but won't be that bad lah. So choose your tenants carefully, either small families or 3 working professionals (Malaysian ladies etc) or look for corporate lease.

Anyway, buyers unlikely to pay $100K or $50K more because your flat is nicely renovated in this current market.
:thankyou:

My only motivation to move house is to reduce travelling time to secondary school. Good idea! Keke, didn't think of that during brainstorming, we can always consider selling/renting it after kids graduated from secondary school and move again 😉

PM you 😄

]]>https://forum.kiasuparents.com/post/1517997https://forum.kiasuparents.com/post/1517997Thu, 04 Jun 2015 01:14:59 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 01:13:40 GMT]]>

TheAnswer:
Steadyberry:

If really renting out yr hdb, pls do not listen to yr agent. I made a mistake of listening to my agent. He told me to rent out to women only at a lower rate because the women will help me to take care of my house. All rubbish.


I rented out my 5-rm hdb to a few myanmar ladies. 1 accountant, 2 students studying medicine in nus & another woman. After 1 year later, my house was in a state that I need to renovate the whole house again. Maybe Malaysian ladies or small family is better but definitely not Myanmar.

Thanks for sharing.

For me, definitely no no to students.

]]>https://forum.kiasuparents.com/post/1517996https://forum.kiasuparents.com/post/1517996Thu, 04 Jun 2015 01:13:40 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Thu, 04 Jun 2015 01:08:01 GMT]]>

Sagow:
maybe this is out of context.


have condo prices gone down more than hdb prices?
rental have certainly gone down more than hdb rentals...
I think so. I noticed prices gone down by as much as $500psf for same project. Those transacted in 2013 vs 2015.
Not sure whether same block same facing but based purely on same size, the earlier buyers already suffered paper loss

For resale condo, there are many listings but I think hardly any offers. Supply more than demand

The HDB prices in matured estate are still holding up. Supply demand. Not that many sellers but there are still ready pool of buyers

]]>https://forum.kiasuparents.com/post/1517995https://forum.kiasuparents.com/post/1517995Thu, 04 Jun 2015 01:08:01 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Wed, 03 Jun 2015 15:12:14 GMT]]>

Steadyberry:
If really renting out yr hdb, pls do not listen to yr agent. I made a mistake of listening to my agent. He told me to rent out to women only at a lower rate because the women will help me to take care of my house. All rubbish.


I rented out my 5-rm hdb to a few myanmar ladies. 1 accountant, 2 students studying medicine in nus & another woman. After 1 year later, my house was in a state that I need to renovate the whole house again. Maybe Malaysian ladies or small family is better but definitely not Myanmar.
Thanks for sharing.

]]>https://forum.kiasuparents.com/post/1517870https://forum.kiasuparents.com/post/1517870Wed, 03 Jun 2015 15:12:14 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Wed, 03 Jun 2015 15:10:30 GMT]]>If really renting out yr hdb, pls do not listen to yr agent. I made a mistake of listening to my agent. He told me to rent out to women only at a lower rate because the women will help me to take care of my house. All rubbish.


I rented out my 5-rm hdb to a few myanmar ladies. 1 accountant, 2 students studying medicine in nus & another woman. After 1 year later, my house was in a state that I need to renovate the whole house again. Maybe Malaysian ladies or small family is better but definitely not Myanmar.

]]>https://forum.kiasuparents.com/post/1517868https://forum.kiasuparents.com/post/1517868Wed, 03 Jun 2015 15:10:30 GMT<![CDATA[Reply to Does it make sense to commit a 99-years lease private condo? on Wed, 03 Jun 2015 11:16:47 GMT]]>

sleepy:
Seeking opinions here. I'm having a mental block on this


Part 1
If you buy another property, would you choose to sell or rent out your existing HDB flat?

I spoke to an agent. He suggested I should sell instead of rent. Because tenant would most probably destroyed my nicely renovated house. Flat furnished like condo show flat so that 1 month deposit from tenant won't even cover cost for 1 wardrobe. He said while house is looking very nice, should sell to fetch a higher price.

I told agent once sold I can't buy another HDB le. He asked me is it important to me that I keep the hdb flat?
That's what I thought wah, supposedly HDB higher ROI

I discussed with dh. He said selling is better because we can reduce our loan quantum for the other property. Less commitment in that sense. I understand where he is coming from.
But that strategy will revert us to original position. No passive income. With only 1 property, no capital gain opportunity either. Can't buy low sell high at different point during property trend. Also, hdb flat price down trend now.


Part 2
If decided to keep the flat, should I rent out 3 room or 5 room HDB flat?

If rent out 3 room flat:
advantage - I get assurance that my 5 room flat will be maintained in good condition if my parents move in.
Their 3 room flat reno already 20+ years old so not so heartache to rent out.
I will also get 1 room as storage because my parents only need 2 bedrooms.

disadvantage - Obviously 3 room fetches lower rental so I have to come out with more cash to service loan.
It will be a huge project if my parents were to move house. So much to pack/discard :faint:

If rent out 5 room flat:
higher rental, can pay off loan faster but have to be mentally prepared to write off my nice deco.
When time to sell, don't know if any negative impact on price.


I'm getting confused. Too many variables :scratchhead:
What would you do if you were in my shoes?
Part 1: Don't listen to the agent lah. He will get a lot more in commission for selling your 5rm than renting it out.

With the new HDB ruling, you can't buy back a HDB flat unless you dispose off your private property. But if you are a current HDB owner, you get to keep both. So think twice.

You should use the rental (HDB) to cover the mortgage of your private property mah.

When I'm young, stay in condo can enjoy the facilities, maybe 20 years later, move back HDB and rent out condo?

Part 2: Up to you. Be mentally prepared to say bye bye to your nicely renovated flat but won't be that bad lah. So choose your tenants carefully, either small families or 3 working professionals (Malaysian ladies etc) or look for corporate lease.

Anyway, buyers unlikely to pay $100K or $50K more because your flat is nicely renovated in this current market.

]]>https://forum.kiasuparents.com/post/1517696https://forum.kiasuparents.com/post/1517696Wed, 03 Jun 2015 11:16:47 GMT