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Hi, I am looking to buy a new property in Singapore. I am hesitating between a old developement (1980, 99 Years Tenure)) and a more recent one (2003-2005).

The old developemnt bring larger room, balcony, more spcace, but I am worried that because of his "old age", and being not a freehold, I will have problem to resell it later. Any advices ?
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2 Answers

Lim Kah Seng
Replied
Hi, which are the properties you are considering? Maybe you can contact me for discussion. The point to take note, for a 30 years old property, most banks are only willing to loan up to 26 yrs instead of the usual 35 yrs.

Cheers

Lim Kah Seng
Team Director
kahseng.era@gmail.com
 9746-2435  Read More
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Ken Khoo
Replied
Hi Sir,
i would advise you to rank your priorties first being which are the factors that is most important to buying a home. Is it the price,investment returns or location ? From there, you will be able to decide to get a older development or not. True enough, older development usually have larger living space compared to new ones, however , newer developments usually have better facilities and easier to sell off in near future. Do take note that buyers cannot loan more than the remaining 30 years lease.

Ken Khoo
ERA MARKETING DIRECTOR
email :kstmail@singnet.com
Mobile:9009 2003 Read More
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  • JC
    Replied
    Hi,

    There is 2 main factor for me:

    1) Get a comfortable leaving place for the next 4 to 5 years
    2) Being able to resell it for a better price and make a margin.

    New condo usually offer little space, high density, small poolk unless you are ready to pay very high price. Old conso offer from my point of view better layout, larger space for living room etc...
    My main concern is about reselling this property in 4 to 5 years time....will it be profitable ? Will it be easy to resell (providing that the market end economical enviroement is ok) ?

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