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Hi Francis,

If you are buying for own stay till the golden years, I think it is still worth considering, as the price to rent a same size terrace house will probably be higher than your monthly mortgage repayments. However if you have plans to sell after 10 years, it may not be so ideal as lease decay issues come in, and resale prices may not be as strong given that buyers generally still prefer freehold landed.

Care to share which area you are looking at? May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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Good morning Francis,

What's your intention for this purchase? For own stay I believe?

I bought a 23 years old (25 now) condo, freehold tho in 2021 to stay near my kids' primary school.

One of my clients bought a 99 leasehold landed last year for the space and price tag within affordability. Freehold landed with such size was out of reach.

They can afford a new launch 4 to 5 beds easily but the space is too small for their growing family. They also can afford an old resale freehold condo too but they still feel space is not enough.

Therefore even though they understand about the lease decay but they have a much more urgency need to fulfil (need alot of space).

I used my team system (3 - 6, 3C, 4 circles) for myself and my clients identify what should be our next move after property sale. Do let me know if you need any help.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
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Hi Francis,

Your concerns are very valid because as the house gets older, besides the decaying lease, other issues such as waterproofing or roofing issues will start to surface and it is very costly to fix.

If you are considering a landed lifestyle, you may want to consider either cluster house or leasehold landed house which are renovated more recently.

Feel free to contact me so that I can share with you more in depth the considerations that you may want to take note of before proceeding.

Regards,
Nick Tan
(M) +65 9644 4854 
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Hi Francis,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes you are right and as per what you had mentioned it too that due to the decaying lease, you may end up having a negative sale too.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Francis,

I have a client who purchased a balance 30 years semi detach house around 15 years back at about $300k back then, and now, we are putting up the unit for sale at above $800k. Neighbours in poorer physical conditions are transacted close to $800k. It is a case of supply versus demand, where space in landed properties will definitely win outright over any condo or apartments, thus for families who need the space, they will unlikely have other options except leasehold landed if freehold and 999 years leasehold landed prices are out of reach. Just like now, freehold units are transacting minimally at $4m range before renovation, this buyers who need space but only have around $2.5m budget only has leasehold landed to go to. I have a colleague who have also recently made an offer to purchase a resale 99 years landed home to fulfill his dream of owning a landed property. Key thing will be what is the price you are getting versus what is the market price?

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Geryl Lim
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Hi,

It all depends on your objectives of your purchase and the price you're paying for.

I had sold a semi-detached with a balance lease of 31 years at $1.4m a couple of years ago. The Buyer who bought the property rebuilt it, and the total cost of purchase (including rebuilt and renovation) exceeds $2m.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More