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Home Buying

Asked by Anonymous 30 Jul 2017

Hi, I'm looking at buying a 5 room hdb flat at clementi ave 2. The lease begun on 1978, which means it will be approaching 40 years old. If I were to buy this unit, will the valuation drop once it's past 40 years and will I have issues selling the flat die to cpf usage restrictions? What is the likelihood of en bloc for flats in this area? Is it worthwhile to purchase this unit?

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Mike Lim · Answer 1 · 2017-07-31T11:13:15+08:00

Mike Lim

Replied 31 Jul 2017

Good morning,

If you are getting point block unit, there will still be demand as the area size are bigger. However, it will be dependent on your selling price as your buyers are likely unable to utilize full CPF for the purchase. As for enbloc option, it is hard to anticipate on that but it is true that HDB does have the intention to rejuvenate Clementi town which I believe will take many years to do so.

FYI
Mike Lim
96929209
m52i@yahoo.com
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