Please see response as follow:
Lease remain: The flat would be 22 years old (5yrs MOP) or 27 years old (10 yrs). It is still above 60 yrs lease, though challenging but not impossible.
2nd floor (Low flr): It is common that low floor takes more time to sell, but there are also buyers who likes lower floor due to the convenience of staying at low floor.
Price: Usually low floor fetch much lower price compare to other level, thus you have to forgo any possibility of capital appreciation in order to sell it.
2. HDB is foresee to loose its' capital appreciation in the next 5 to 10 years time, this is mainly due to supply and demand.
There are lots of supply of resale HDB is expected in the next 5~10 years due to the following reasons:
(a) Huge number of BTO supply now,
(b) Local SC population did not grow at the same rate as the rate of BTO built.
(c) SPR need at least 3 yrs of residence status and possibility of forming family nucleus or already formed family nucleus.
(d) Single SC cannot afford high price resale.
Without calculating interest incurred during this period, you will still see small capital appreciation in HDB, but do not expect as good as before. Especially you are buying a 2nd level unit.
3. You can take reference from past transaction within 200m radius. These data should provide a good indicative price. The current tools also use this as reference to propose a value, however, final valuation also include condition of the unit, such as aircon, type of flooring, fixtures which are reusable etc into consideration thus there are some variation compare to the tools available to propose a valuation value.
4. Once the flat went below 60 years lease, the value will drop significantly due to the CPF withdrawal limit, age constraints, loan available contribute to the drop in value.
Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636, or email: email@example.com if more information is needed.
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