14 Answers

Hi,
Yes, older condos are much bigger and some buyers prefer the space. Any condo approved by URA before 2001, also has enbloc potential. It also depends on where you are looking to buy. There are certain areas you must avoid due to URA planning reestrictions.

Please contact me so that I can be of further assistance.
Cheers!

Elan Govan
MABA (Lancaster)
 90170747 
jayelan@gmail.com
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Hi, this will depend greatly on multiple factors. Factors such as location, developer, facilities, amenities in the area as well as upkeep affects the condo greatly. Sometimes the demand for a older condo is higher due to its convenience and price point compared to a newer condo in a less sought after district. I can be of assistance to you, do reach out to me.

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
 97396040 
landonchew@email.com Read More
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Hi,

Would not really suggest such an old condo unless the entry price is really attractive and below market rate. Selling in 20 years time is going to be challenging due to lease decay (where buyer cannot take full loan or use full cpf OA, potential maintenance issue due to old condos condition, as well more newer competition of supply coming up). May I know which development you are looking at?

Hope the above clarifies. 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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Hi,

There isn't a simple 'yes' or 'no' answer to your question, as it depends on various factors such as the location, demand and supply dynamics in the area, demographic of potential buyers, any enbloc potential, and more. If you provide me with more details, I'll be able to offer further assistance tailored to your specific situation.

This platform does not allow me to contact you directly so kindly contact me at
https://wa.me/6597261112 I would be glad to assist you further.

Thank you and best regards,

Jenny Tran
Propnex Realty Pte Ltd
(HP) +65 97261112 
(Email) jenny.tran@propnex.com
BSc (Real Estate) (Hons)-NUS

Testimonial from Satisfied Clients
-- My husband and I wish to commend the sincere attitude and good customer service rendered by
your staff Jenny, who handled the sale of our 5R HDB flat early this year. We have met several
agents but none as genuine as Jenny. Being a seller agent, she took our interest at heart in handling
the sale, unlike other agents who are self-interest. Jenny is punctual and prompt in the whole
dealings and we were convinced that such an agent is hard for find nowadays. Jenny is a
trustworthy, honest, sincere and hardworking agent. We are happy with her service and would
gladly recommend her to our friends in future. Jenny is an asset to Propnex and the organisation
should value her. Thank you Jenny for her efforts--
Mr and Mrs Soo (HDB seller)

--Jenny is very committed and responsive to her clients and she has spent hours updating them and
looking out for great deals and even tailor-made property proposal geared towards their needs. Will
certainly refer her to others and will definitely approach her again in her future--
Nick and Kim (New launch buyer)

--Jenny did a great job helping my wife and I sell our unit. She took active steps to walk our
neighbourhood to understand what she was marketing. During the marketing period, she managed
potential buyers and provided timely updates and recommendations so we could stay on top of the
process. Overall, Jenny was professional and helped us to achieve a positive result which we are very
thankful for--
Aaron ( HDB seller)

--Jenny was very passionate and went the extra miles to help. Thanks to her professional advice and
recommendations, I had finally found my dream home--

Yvonne (New launch buyer)

--Appreciate Jenny's clear and prompt communication style with us and other stakeholders. She was
also patient and client-centered throughout the process of finding a home that met our criteria. As a
first-time home buyer, we appreciate how she went out of her way to explain the process and
answer questions we had--
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0
Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, there is no right or wrong answer to this and may I know why you are considering this option?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
If your focus is on resale value in future, then I suggest you do not look into such projects in the first place since you are aware that lease decay can be a major issue when it comes to resaleability. Read More
1
Here's a breakdown of the factors to consider when deciding whether to buy a condo built 30-40 years ago (TOP 1982) in Singapore:

Potential Benefits:

Lower Entry Price: Older condos can be significantly cheaper than newer ones, especially in prime locations. This allows you to potentially enter the property market sooner.
Established Neighborhood: Older condos might be located in mature estates with well-established amenities like schools, markets, and transportation networks.
Freehold vs. Leasehold: If the condo is freehold (ownership in perpetuity), it can be an attractive option compared to a 99-year leasehold condo, especially for long-term investment.
Potential Challenges:

Depreciating Lease: For leasehold condos (most common in Singapore), the remaining lease duration (72 years left for a 1982 TOP condo) is a significant factor affecting resale value. As the lease shortens, the pool of potential buyers shrinks, and the value might decrease.
Maintenance Costs: Older buildings might require more frequent maintenance and repairs, potentially leading to higher maintenance fees over time.
Outdated Features: The condo's design, amenities, and finishes might be outdated compared to newer developments. Renovation costs should be factored in.
Loan Eligibility: Banks might have stricter loan conditions or lower loan quantum for older condos due to the shorter lease remaining.
Resale Value in 20 Years (2044):

Predicting the resale value in 20 years is difficult. Here are some considerations:

Overall Market Trends: The general property market sentiment and future regulations can significantly impact resale value.
Lease Decay: The remaining lease (around 42 years in 2044) will likely be a major factor influencing the price buyers are willing to pay.
Upkeep and Upgrades: Regular maintenance and potential renovations to modernize the unit can improve its appeal and potentially retain value.
Alternatives to Consider:

Newer Leasehold Condos: Consider newer leasehold condos with a longer remaining lease, offering more flexibility for future resale.
Executive Condominiums (ECs): ECs offer subsidized pricing but come with a longer minimum occupation period (MOP) before selling.
Recommendation:

Carefully weigh the potential benefits and challenges before buying an older condo. Consider factors like your budget, investment horizon, and risk tolerance. Consulting a property professional familiar with the specific condo and market trends can be helpful.

Here are some additional resources that might be useful:

URA Property Market Information: (https://www.ura.gov.sg/) This website provides data on past transaction trends.
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Hi Sir/Mdm,

Buying a very old condo may not be a wise decision because as the place gets older, your potential pool of buyers and tenants may decrease because of loan and cpf restrictions, higher maintenance cost and the facilities may be less attractive as compared to the newer condos.

However, I have clients who are buying old projects with the hope of a collective sale. In this case, it is feasible but we will have to study on the probability of a collective sale.

Please feel free to contact me so that I can understand your intentions and situation before providing you with further assistance.

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

SEAA Salespersons Achievement Platinum Award 2020/2022/2023

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I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agen Read More
1
Robbie Chen Chee Howe
Hi,

I understand your concern on the lease decay of such a condo. I can share that I had previously sold a semi-detached house with only 31 years remaining in lease at a record price then.

However, I wish to highlight that nobody can predict what will happen in the future. Hence, I believe no agents will be able to promise you a good return on your investment.

Perhaps you can ask yourself, are you purchasing it for your own stay? Or is this for investment purpose?

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 +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More
0
Robbie Chen Chee Howe
Hi,

I understand your concern on lease decay of such a condo. I can share with you that I had previously sold a semi-detached house with only 31 years of remaining lease at a record price then.

However, I also wish to highlight to you that nobody can predict what will happen in the future. Hence, I'm sure no agents can promise you a return of your investment of such a condo.

Perhaps you can ask yourself, are you purchasing this for your own stay? If so, does it suit and match your family's needs? And if you're purchasing it for investment, what would be your objectives and exit strategy?

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 +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More
0
Robbie Chen Chee Howe
Hi,

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 +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More
0
Here's a breakdown of the factors to consider when deciding whether to buy a condo built 30-40 years ago (TOP 1982) in Singapore:

Potential Benefits:

Lower Entry Price: Older condos can be significantly cheaper than newer ones, especially in prime locations. This allows you to potentially enter the property market sooner.
Established Neighborhood: Older condos might be located in mature estates with well-established amenities like schools, markets, and transportation networks.
Freehold vs. Leasehold: If the condo is freehold (ownership in perpetuity), it can be an attractive option compared to a 99-year leasehold condo, especially for long-term investment.
Potential Challenges:

Depreciating Lease: For leasehold condos (most common in Singapore), the remaining lease duration (72 years left for a 1982 TOP condo) is a significant factor affecting resale value. As the lease shortens, the pool of potential buyers shrinks, and the value might decrease.
Maintenance Costs: Older buildings might require more frequent maintenance and repairs, potentially leading to higher maintenance fees over time.
Outdated Features: The condo's design, amenities, and finishes might be outdated compared to newer developments. Renovation costs should be factored in.
Loan Eligibility: Banks might have stricter loan conditions or lower loan quantum for older condos due to the shorter lease remaining.
Resale Value in 20 Years (2044):

Predicting the resale value in 20 years is difficult. Here are some considerations:

Overall Market Trends: The general property market sentiment and future regulations can significantly impact resale value.
Lease Decay: The remaining lease (around 42 years in 2044) will likely be a major factor influencing the price buyers are willing to pay.
Upkeep and Upgrades: Regular maintenance and potential renovations to modernize the unit can improve its appeal and potentially retain value.
Alternatives to Consider:

Newer Leasehold Condos: Consider newer leasehold condos with a longer remaining lease, offering more flexibility for future resale.
Executive Condominiums (ECs): ECs offer subsidized pricing but come with a longer minimum occupation period (MOP) before selling.
IF you Need Further Help--->> like : Renting / Selling / Buying or Investing Read More
1