Asked by Anonymous
I am considering buying a HDB resale flat in Clementi with 60 years of lease left. Is it worth buying given the lease is only 60 left?
So if the selling price is $750,000, I will lose $750,000 in 60 years time?
There are people who say that old building means higher chance of en-bloc. But the selling price for new HDB flats are only at $300-400k. So still a losing deal. If I buy now at $750,000 using majority bank loan and 2 years later HDB announce en-bloc and I am assigned a new flat that is worth $400,000. What does it mean? Will the bank go after me for margin call because a $700k+ flat is now only worth $300k+?
Please advice. Please give your professional views here so that everyone can see. Thanks
So if the selling price is $750,000, I will lose $750,000 in 60 years time?
There are people who say that old building means higher chance of en-bloc. But the selling price for new HDB flats are only at $300-400k. So still a losing deal. If I buy now at $750,000 using majority bank loan and 2 years later HDB announce en-bloc and I am assigned a new flat that is worth $400,000. What does it mean? Will the bank go after me for margin call because a $700k+ flat is now only worth $300k+?
Please advice. Please give your professional views here so that everyone can see. Thanks
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