Hi,
1) From a property analysis point of view. Your friends are not completely wrong nor correct.
2) You mentioned 2 mature estates, Toa Payoh and Ang Mo Kio.
3) You have to understand a bit about how URA separates Singapore in terms of the value of the property.
4) There are Core Central Region (CCR), Rest of Central Region (RCR) & Outside of Central Region (OCR).
5) In HDB, they further split into Mature and Non-mature estate.
6) Toa Payoh is under RCR, Ang Mo Kio is OCR. Thus in terms of pricing, you will find that Toa Payoh is more expensive than Ang Mo Kio, although both of them seem to categorize under the mature estate.
7) So far, in Singapore, there is no specific town where there are no people who are not buying or stay.
8) Obviously more expensive properties tend to attract lesser buyers, cheaper properties tend to have more viewings.
9) But nevertheless it is a competition between yourself and your neighbor. You can't use an HDB in Ang Mo Kio and compare the price with a private one in the same area.
10) As long as there are sellers, there will be buyers. So whether there is a deal will depend on the price eventually.
11) But do note that a flat that is too old, especially in HDB, has more restriction to buyer utilization of CPF.
12) Remaining Lease and price is serious considering factors that you cannot ignore. Rejuvenate these older flats is a challenge due to the structure layout and ceiling height are much different from the current trend.
13) You have to put your budget and future living pattern and check whether they matched your expectation before hurry makes a regrettable decision.
14) Finally, there are newer flats available in these 2 estates mentioned. Thus, I would suggest you choose these newer flats over those with a lower remaining lease because their potential already wears out just like their flat condition.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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