Mr Loo! You are so WRONG about HDB!😠

Mr Loo thinks that the Singapore Property Markets are showing signs of being overheated. And a lot of people have come back with their views.
Singapore Property has been on a bull run for the past 30 years, and has only accelerated due to Covid. Last time that we spoke, Dragon Tan was slightly optimistic about the future direction of the Property. Now, he comes to us with new information on the rental side of the house, and it does not seem good with the recent developments on the high cost of living in Singapore. How will this impact the future of the Property Market?
Find out with Mr Loo in today's video!
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Disclaimer: loo.money/disclaimer
[phone] Dragon Tan (Do not contact Mr Loo for Real Estate Services)
Helping Ordinary People lead Extraordinary Lives

[@hummit]

HDB after 99 year lease will definitely be worth $0 after lease expires. It’s the same for 99 years leasehold condos btw.

[@wtan1851]

Policy consistency is important. You get what you pay for. If you were paying $9,000 for a 3-room flat in 1968, don't hope to stay forever. By being consistent, people will be encouraged to bid sensibly, and this will make housing affordable instead of turning it into a casino. Modern concrete buildings cannot last well beyond 100 years. So it will decline to 0, just like COE.

[@kennethgoh7198]

+1

[@steventay5834]

@@wtan1851 I am not sure what you are trying to share? Maybe my IQ is not high.

[@steventay5834]

@@wtan1851 I didn't know you have to bid for HDB flat.. thought the prices were given by HDB?

[@dps2933]

@@steventay5834 resale market is bidding war. He not taking about BTO which is quite a managed lottery system.

[@lmh-mv3ec]

Since the value will decay to 0 why is there a need to return the accrue interest?

[@saltedpopcorn3361]

TBH, tenure is not the only factor. We have to consider the nature deterioration of properties. Government is maintaining everything else other than the interior of our individual hdbs. To have a freehold high rise public housing won't benefit us in the long run. If 99 years HDB are going for resale at $1million+, what do you think the resale value will be for freehold HDB, especially in prime area like cbd etc? In my humble opinion, our Government is already doing a much better job compare to the rest of the world. Since our independence less than 60 years ago, we become the richest Asia nation and 4th richest city in the world, what more do people want from the Government? Greed knows no bounds.

[@georgetang3489]

Very balanced view…so do manage your own lives ..no right or wrong answer 😊

[@MS-ub9hb]

Those bought direct from HDB would be gone by then. Those bought resale would have consider the remaining lease based on their remaining life expectancy. My bet is when the remaining lease is less than 10 years, there will not be any more surviving owners staying there. It will be a ghost block ready to be demolished.

[@kennethgoh7198]

+1

[@dps2933]

It can be rented out.

[@kennethgoh7198]

@@dps2933 can 你的头. Can your head (Singlish). Even primary 6 also know hor. Check the context before talking you hired outsider by dunno who.

[@leethaiann3362]

HDB never sell any flats ! HDB only lease you flats $$$$$$

[@WendeLee-u6j]

I'm quite certain when a property reaches 99 yrs , it'll be returned to whoever owns the land . Occupiers will be left with Zero value for property .

[@leonardkim8631]

I asked my friend who bought a resale flat close to $1m last year. His rationale is that a private condo of similar size in the same vicinity is selling alot more expensive. So it is still 'worth it' to buy the HDB flat.

[@HawkishMerlion1965]

Yes. Vote PAP. House is to make a home , a house is not to make a gamble for speculation 😂

[@lee6518]

He can afford it, and it's the size and location that he wanted.

[@lindc1070]

@@leonardkim8631 1m in today's market is nothing. What private property can you buy with that amount? Only a small unit in OCR. It is not a lot of money. Just like 40 years ago people thought 100k for HDB is a lot

[@aplacecalltambun]

So u got no choice right? Sg so so smart not realizing the rings around the neck. Loans must be repay grants must be repay with interest. Ah but it is affordable so Don't worry unless u loose income Than u down grade to one room with one toilet And still affordable

[@kennethgoh7198]

@@leonardkim8631 Look your friend already spent that 1 mil I don’t know how Obvious it needs to be so that you can understand that OF COURSE he says it’s worth it. Wtf .. primary 6 also know hor.. please wake up.

[@kcchiew4247]

HDB is just a roof over my head, not for investment.

[@kennethgoh7198]

+1

[@carnesir]

not everyone buy million dollar hdb to grow or hold wealth. it is a standard of living in our limited time of existence.

[@daniellim5829]

There is a saying in Chinese, “ Yang mao chu zai yang sheng san”. If the cost of materials doesn’t drop, the cost of operation doesn’t drop, the margin of development doesn’t lower. Then I don’t see any probability of price reduction to come which would again translate to a vicious cycle of expectation of the younger generation demanding more to cope with current market.😂

[@contrarian2496]

Thanks for highlighting my comment Mr.Loo Just as a hypothetical question, let's say an HDB and private property both approaches its end of their lease, which is more likely to get a lease extension? Is it the HDB which majority of population lives in (worth 80% of votes) or the private property which its developer's sole concern is profit maximization (worth 20% of votes)? Therefore, wouldn't HDB be the safer asset since there's VERS, compared to private property that fails to get en-bloc by the end of its lease? There'll always be strong reactions to million dollar HDB because majority have the perspective that HDB must be cheap due to the label of public housing, but when private property prices multiplies by 10X it's alright with most people. Ultimately, if we don't view property as investment but as a place to stay, then it simply comes down to the combination of 3 factors, the location, size, and price, which the million dollar HDB satisfies all 3 factors for its informed buyers.

[@eng80425]

Already warned. No extension

[@jeemgold7783]

​@@eng80425yes, when that time a couple bought HDB at the price of 1million at Whampoa.

[@gladysloy5780]

This is the reason driving high resale price that the refusal to acknowledge lease up means no extension & back to state to rejuvenate.

[@kennethgoh7198]

Please show data of lease extension .. joker

[@bkoh1771]

Incorrect analysis. Enbloc by private is all about price. Ask them to enbloc now at $800-$1,000 and see if there is any private developers willing to take? Sure loads. Enbloc fail is because of price only. Now, everyone wants $1.3k-1.5k. VERS & SERS there is no such option. The govt decides.

[@decepitichopps5]

The lease is not likely to be extended. Those who are betting on it are more likely deluding themselves. Look if lease extension is ever on the cards, why place restrictions on CPF withdrawals and bank loan for buying of flats with this condition: “Use of CPF will be pro-rated based on the extent the remaining lease of the property can cover the youngest buyer to the age of 95”. With such restrictions, the pool of buyers for the 1.5 million flat with decaying lease is practically non-existent. Then what? Wait for VERS? We have already seen how even those under SERS are shortchanged in the ANK saga few years ago. VERS will be a worse off deal. And what’s worse, VERS works on collective agreement by residents, who generally will be less knowledgeable in sale timing and market conditions. The government has spoken years ago on this matter because it takes lots of money for any rescue package. Flowers do not stay red for a hundred days. The can is just being kicked further down the road with increases of grants and subsidies

[@ClementLee2000]

Rumour that GE will be coming soon, so Mr Loo, govt will not make such a statement now for sure. After that, maybe got chance. Having said that, govt will probably just keep quiet. Since when the time comes for any HDB lease to go to zero, they are probably no longer in govt. So why shake the boat? When that time really comes, they can take back the HDB with full legal rights.

[@dwsh25]

They buy because it is for long stay or maybe old age planning ..... good location, good surrounding amenities, convenience, cheap maintenance etc

[@marsalatea]

Govt may not extend lease beyond 99 yrs, but redevelopment is entirely possible.

[@serenewong2919]

Love the way you have reacted to comments on your previous video posting. Shows the big man in you with lots of logic, objectivity and balance. Great job, Mr. Loo. I enjoy your videos very much!

[@tanhakkoon]

Resale HDB will keep going up, until government "officially warn" the HDB 99 yrs lease is not renewable by default.

[@bennytan630]

Already notified long time ago

[@tanhakkoon]

@@bennytan630 Still not yet into our mind.....as so far no HDB had reached 99 years lease expiry. Something the government is still very low profile in this issues......but believe they will do something hush similar to CPF SA.

[@bennytan630]

@@tanhakkoon what the Govt says: The Voluntary Early Redevelopment Scheme (VERS) is a long-term plan to stage out the redevelopment and rejuvenation of our older towns and estates. It is a complex undertaking, involving detailed long-term town planning. We are working out the details and will share more information when ready.

[@lee6518]

Thinking about lease buyback to release the value for investment... Dunno if worthwhile or not. Have not done much calculation. Remaining lease if 79 years. Remaining expected lifespan is 35 years.

[@abcxyz1242]

Thks Mr Loo for the gentle reminder. 👍👍👍

[@Nerosink2000]

I think there also could be alot of people who want bigger flat but dont want to pay for condo facilities like swimming pool / tennis court/ cleanerd / gardeners

[@jeffreyng1259]

If your HDB is owner occupier, nothing to be about unless u have another property to stay. If not u sell high also need to buy high unless downgrade or rent

[@KelvT1]

thank you for your point of view

[@annagoh2527]

The landed property owner selling their landed property and switching to HDB is already been very conservative financially. They could have downgraded to a 99 year leasehold condo which could drop to NIL value at end of lease too and waste more money than HDB

[@Jeffrey-py3zc]

rich people actually dont care still consider very afforable

[@kennethgoh7198]

Don’t do speculative judgement thank you. Such parasitic thoughts can keep to yourself. Unless you want to put money where your mouth is, show your wealth and buy a HDB and gather like minded people and proof it online. If everyone is rich no one is poor.

[@falconhero]

the poor always make up the majority of any population

[@MsCorydorus]

I don't think most people do not know that when lease go zero, is gone. People is looking at total return. And there will be people who want to take a bet that gov may give them special bonus.

[@rayng3948]

It is one thing to have a lease top-up, SERs, or VERS, it is another consideration of how we can finance this exercise when we are retired with no income.

[@WendeLee-u6j]

There's already few 99 years lease HDB properties that were taken back recently years .

[@coins_investmentsg]

Mr Loo, you are champion, very funny bro.....they are stupid too....HDB is a tenancy lease of 99 years (we all studied that in RES course) - there is no denial about that. Some people also don't want to pay $300-500 every month for the condo maintenance, imagine if they are jobless, still got to pay that every month to hire people to clean pool, gym, garden etc....why? HDB is no frills stay but again said, million dollar HDB is nonsense.

[@kennethgoh7198]

+1

[@michelleszetoh379]

Mr Loo i agree with you. There are a lot of ya ya papaya citizens Let them kana the outcome.

[@choonhockong8215]

What will happen if an accidentally war breaks up in this region especially the Taiwan Straits, South China Seas. Could happen with the US a warmongering country in this region. Wars in this region would collapse the Asean countries economy and Singapore would be badly affected, property price could nosedive by 50%. Don't think about the current situation of end life of the 99 years lease.

[@mic_sleepyhead]

I think the Taiwanese will flock to SG to stay if war breaks out. SG ppty mkt may still be supported, though more of the private condo segment. Ultimately HDB flats are under SG govt's control. Private condo, though leasehold, still has more leeway and flexibility as compared to HDB flats.

[@chkam3139]

Whether HDB will become zero at the end of lease, few people will actually find out. Because most people won't stay till end of lease to find out if they lose money. Most will sell at some point or maybe die somewhere in the middle of the lease (e.g my parents).

[@justlim1558]

Absolutely correct !

[@aspirojohn7617]

Why base on Believing? I find it funny and laughable those who think lease expiry and $0 hdb residue value is not possible becos G will do something, have they done anything to question govt for a solid concrete assurance?? These prove A Thinking flaw likely due to Believing which while not totally wrong, they should base on Evidence and getting definitive answer from the G. But are they too afraid to speak up? 🤣

[@edwardlumsianming3430]

You have shown the facts, so let it be that people will believe what they want to believe .

[@azaharbinmohamednoor7530]

does it mean, then, that FH pte property is the best asset to hold as it will keep on increasing in value?

[@dps2933]

Freehold landed is the best. Freehold strata title also have higher chance as compared with leasehold. But this all are beyond the reach of most HDB owner.

[@tcmelvinlee4804]

The steep rising of resale HDB prices is a serious matter to all of us and our new generation, the high price already thrown us out of the windows!😢

[@kennethgoh7198]

+1

[@aspirojohn7617]

As long as the majority supports, what can you do?

[@kennethgoh7198]

@@aspirojohn7617 you mean as long as the policies supports ? I mean clearly there wasn’t 30 year loan in the past

[@investwithpete]

while it is possible that the govt will extend the land lease after 99y, I think it is not wise to bank on this "hope" for your retirement and financial planning

[@choonhockong8215]

Mr Loo, I think those naive buyers of old resale hdb flats would think the government would extend the 99 lease once it hit 99 years. "Tan ku ku😂"

[@phongy45]

Will new policies change , only the benefits those drafting the policies now ?

[@CatherineCarol]

Yeah I heard some friends who actually believe that the government will ensure the lease value will not go to zero. They will be given a new place when lease balances coming to an end.

[@kennethgoh7198]

Tell your friends the government is not Barney and Friends Hor.. wake up their idea. There’s NO case of such extension only buy back of lease. AND there’s already case of take back.

[@gladysloy5780]

Gov probably give a new place like rental flat to stay if cannot afford to purchase new flat. Definitely not a replacement 99 lease ownership.

[@CatherineCarol]

I thought rental flat only for destitutes. If you are not will that qualify ?

[@loocl2887]

Theoretically the lease will go to zero value at end of 99 yrs. Politically depending situation at that times of well before that, govt may tweet the policy to extend the lease provided the building is certified fit for use. Govt have not make known the future plan as no hurry now, or no Politica pressure now. Why worry now.

[@kennethgoh7198]

@@loocl2887 don’t you get it there’s no proof of politically, it’s just hear say and speculation. Politically, it is possible that Russia can just nuke Singapore as well. Please stop mixing possibilities with probabilities and call it “quasi financial discussion” such uncle and aunty speculation is the ROOT of all this problem. STOP IT.

[@singaporehomesbyalanyap1363]

HDB have measures in place to ensure the owners will not out live the lease. Your age + remaining lease must be above 95 So in the future they won’t be huge problem of old folks out living their HDB flats

[@steventay5834]

I think there is no such restrictions to buy resales HDB flat. Think that is for loan

[@lindc1070]

Am wondering does this remaining lease + age =95 apply to inheritance too or will our kids have to sell if it doesnt add up?

[@steventay5834]

@@lindc1070 no lah. There is no such restriction.. You can buy any resale flat regardless of balance lease

[@steventay5834]

@@singaporehomesbyalanyap1363 there is no such restriction

[@ryojinkiiro940]

@@lindc1070 No age limit for inherited flat, however do note that you cannot keep the flat if you already own a HDB flat.

[@alee4141]

Even if the lease can extend can the building structure last more then 99 years..

[@ljk1992]

Unless there is first bto owner who outlive the 99 years lease, else other Singaporean will not agree with gov to use reserves to extend the lease. Simple reason: If can extend easily then people buy new house for what? 80% of singaporean stay in hdb, but none of them will outlive the 99 years lease. (21 years old + 99 years lease is 120 years old) Those who want to buy an old house and gamble for gov to take care of you when the lease up, there is solution for you: rent from hdb hahaha

[@MsCorydorus]

15% think gov may extend doesnt mean'they will not accept if is not extended. Singaporeans aren't stupid.

[@edwardlumsianming3430]

In the end I think that the STATE POSITION IS TO ENSURE PEOPLE HAVE ROOF OVER THE HEAD NOT TO HELP PEOPLE MAKE MONEY OUT OF HDB😢

[@SamStab007]

Goh Chok Tong said otherwise. Your HDB is your asset. 😅

[@ryojinkiiro940]

@@SamStab007 yes, an asset in your lifetime only

[@kennethgoh7198]

+1 fingers cross they finally make some effective action about it.

[@renaturerelaxationchannel4800]

we need the stats to show how many married younger people can't afford to buy a hdb flat.

[@kennethgoh7198]

Yes we need stats ! Ask the gahmen wake up.. don’t know how to govern step aside.

[@dps2933]

You mean those 18 years old couple?

[@scsw66]

Mr Loo. Is like you buying the JB property. They are rich enough to do it in sgp and write it off like you.

[@dps2933]

fixed deposit also can go longkang one.

[@lohti6399]

Why would people still make use of house to retire.

[@ninijo1234]

HDB is for living, not speculation. It’s not an investment if you are living in it and not your rental/2nd property.

[@davidlim4201]

Mr loo. The difference in BTO prices and resale price can be attributed to the waiting time for BTO flats. Say a couple has to wait 5 years for a BTO flat. In the meantime they had to spend 5 years renting a place til then. That will translate to easily $200000. Second do they have an alternative housing that is cheaper then HDB flat. The comparison now for most buyers are between condo prices. Since I can’t afford condo prices I will buy resale Hdb. Thirdly did u notice BTO prices are going up. Unless u are prepared to go somewhere far away without efficient transport means u may be able to purchase a cheap BTO price. Finally the long term trend of land cost will continue to rise . That means private prices will continue to rise in the long term. When the southern water front is build how much u think the BTO flat will be surrounded by rising private housing price. We don’t have natural resources like our neighbours we only have land to help us build our reserves . So long term million HDB house will be a norm.

[@aspirojohn7617]

What you said is not absolutely have to be the case. Or are you confident enough to say this is the only way and has to be so?

[@henryng7749]

There will be Government En-Bloc towards end of 99 years lease. Owners will be given a choice, accept the offer, or risk it going to zero. The offer could be extending the lease, or a settlement sum, or a top-up sum (less than BTO) for the new blocks to be re-developed, etc.

[@dps2933]

Enbloc is depend on demand . SO you must encourage government to import foreigner. They are you future life saver

[@margaretchong1450]

Guaranteed no lease top up.

[@cej1987]

Mr Loo, this is not challenging you but more of a question because i am same situation. You mentioned you have your hdb in singapore. But I understand that you are not allowed to but foreign property if you still hold foreign property. Is there other rule that you can do so? Or it is because you still are staying and living in the hdb?

[@ryojinkiiro940]

After the MOP of the flat, there is no limit on the number of private properties that can be acquired, including overseas properties

[@swimlah]

There are quite a few commonwealth HDB almost 50 years or older that are “upgraded” instead of SERS. I hope not but I think they will run until lease become 0 😢

[@dps2933]

Singapore independent less than 99 years ago

[@TheWealthinit]

What percentage of this over $1m HDB came from buyers who sold their private property for million of dollars? How many come from selling their existing HDB to so call upgrade to a > millions HDB ? You got the data?

[@steventay5834]

I don't know why should there be so much debate. A 99 years leasehold property will end up with zero value when the lease expires

[@1m65]

That’s not what a lot of people believe.

[@RKFP]

Hdb owner here. With the current rules in place. Especially the remaining lease must support owner till 95yo. In my opinion, there wont be a huge demand or need to extend HDB lease period. As most flats will out lived current owner. Cant imagine future SG is decorated by mostly old flats. The challenge remains on making BTO affordable for new gen singles or family. Fast enough speed to match supply & demand. In my humble opinion, especially with new grants etc, bto is still very affordable. 2 brm 100k - 80k grant. couples only pay 20k. Where in first world got such good lobang? People who complaint they need a 5rm bto, good location, car, but cant afford because its so expensive. Need to reflect on themselves and work harder. As no one owes us a luxury lifestyle.❤

[@mchan1970]

This is a cycle. As long as there are hdb upgraders and downgraders, there will be liquidity and prices will be supported. As long as there are new residents n citizens, prices will continued to tread upwards.

[@lowcc7602]

Uncle. It will hit very low when it reaches 30 years left. U should live in hotel than hdb if it hit millions.

[@88_JJW_88]

we buy hdb for staying and should not be bother about losing...and it can only get more expensive over the years

[@ImagesOfCountries]

Mr Loo rocks ! ... 😊

[@leanne2330]

I agree, these few hundreds $$$million dollar Buyers are not worry abt price, but value buy. To the downgraders old people, they unlikely outlive another 60yrs. Infact, it can be a good gift for some parents to give their children. Example, $1 mio one cant buy a 700sqf condo vs just grab a decent hdb at RCR... Leaving children to fund the balance $400k and reno.

[@Samsung_Ultra_S23]

i think mr Loo is right sharing his thoughts. Now 2024, there is people still thinking HDB 99yrs lease can be "extension"... 😂 in SG everything ALSO have to follows BLACK & WHITE, when you collecting keys signed WITH 99years or balancing thats it. ☆No Blind when people Signed, after signed become blindness.😂 the GOV cannot just suka suka extension leases like these people thinking. if a Legal documents is not fullfill or promise , how to up hold all people properties right.

[@theseira]

What about TSLA?

[@MrRazorteeth]

Sold at bottom already😂

[@philippelee5720]

Better than hdb

[@CK-pv5yq]

You can build a condominium estate in Mt Austin. Maintenance run by Sg people. We Sg people will buy. The problem is Malaysian don’t pay maintenance fee.

[@1m65]

I don’t know anything about property development

[@superconnie5003]

Tanglin halt HDBs are amongst the oldest will they last 99 years?.Cracked concrete and exposed rusty rebar

[@vincentang1765]

I opinion is the government should try their best ability to make BTO affordable for young couples and low income nuclear. As for resale flat... hai... Doesn't make sense to me but if one happy to buy and one happy to sell at that high price then I have nothing to say.. I agreed with you that the HDB resale flat price will come down.. 😊

[@christyhilton1919]

No one is wrong as a buyer or seller. Who wants to pay that high. Who knows, i might do that like this old auntie buy a super convenient hdb. When im in that stage, i wouldn't care anymore. Comfort comes first. Again, hdb might adopt the UK System to extend the tenure. Just pay some fees. New buyers welcome this move as well.

[@bryansttan]

Look at Reality guys - there are HDB 70 year leases granted around independence. These have been taken back. That's exactly what they will be doing - right before your eyes to see. Does not mean the government will not take care of their people - it is just that your expectation of taking care may not be theirs. for instance, they can provide rental flats for the retired, no income who outlived their leases, while those still working (must have plonked down money for a short lease or inherited) will be offered BTO.

[@yuchaosng1972]

The rental mindset is really interesting. In this case, there is no argument whether the HDB flat value will go down to 0. In fact, it was an assumption that it will. The other opinion that government will take care of the people is quite naive. How many more years before the first 99 year lease expires? That is how many elections away? Will it still be the same leadership? There are too many unknowns (i.e. risks) that we cannot foresee.

[@steventay5834]

HDB flat prices may fall. Nobody knows. I guess those who bought $1m HDB flat also sold theirs property at higher prices. Could be owners who sold their property enbloc or downgrading from Landed property

[@margaretchong1450]

These buyers can afford to lose because they have made.

[@dps2933]

There will be the time that government will be in trouble and cannot help out everyone. So I think Singapore government is so bright to mass import foreigner to keep economic enlarge

[@amuletmarketdotcom]

Mr Loo, you and I are not freehold so 99 leasehold is enough. As most Gen Z are taking up BTO so what issue the younger generation have for the 99 lease . As we are moving towards 10 millions population by 2050. Government will have enough land to build more houses unlike the Canadian government. To quote, we even sacrifice the turf club for future usage. As for HDB prices to go down, it is hard as Singapore is only 735km square and inflation of raw material to build these flats. For downgrader I am sure they are old enough to see through their retirement life with enough lease buying a HDB flat or maybe buy an oversea properties like you. So Singapore properties prices can never go South but will gradually go North unlike how you predict it. Why there is a sudden surge in properties prices is because of influx of new citizens because of our low birth rate plus we need to be competitive as we have no natural resources.

[@allantankl]

Finally somebody smart and sensible.

[@steventay5834]

HDB will not extend the lease lah.. Government will buy back the flat before the lease expires.

[@maykoo100]

Run to Malaysia property and happy? Two years later, let's see whether the view will still be the same. It will be a chore and a lot of work and commitment to keep the property, which will be very under-utilised anyway.

[@janettan115]

Enblock also will not get full 99 years lease new flat. Become zero value is possible.

[@margaretchong1450]

Those who have ears let them hear. Those who wish to be in self denial let them be.

[@sgcitizen1063]

Govt will calculate the remaining lease life, offer these HDB owners new place, new lease with top up. For those who don't have enough cash, Govt will offer HDB with lease life no more than 20 to 30 yrs ie only to the owners' life. And will take over the HDB when the owner(s) passed away. The asset remaining value will not be given to the Beneficiaries.

[@aspirojohn7617]

Is this official or are you creating fake news? Do you represent the govt of Singapore?

[@Autonomous4kpsf]

Mr Loo has become the neighbors of ANWAR. Why HDB

[@scbchong6964]

Remember that inflation is always caused by excess cash, easy credit and fomo. At least 50 new millionaire citizens every month when they sell their HDB public housing flat for a million dollars. Also don't forget that GenX citizens have been turning 55 since 2017 and have access to fat CPF savings. Then there is the payouts from enbloc fever of 2018 which minted hundreds of multi-millionaires among Boomers. And don't forget the pay raises for healthcare workers, teachers, civil service and SAF/civil defence/Police in 2022 and 2023.

[@tcmelvinlee4804]

Side effects of ambiguous and new policies😢

[@Rockyera2024]

i am not sure how those private turn public house owner do their math . Y not put the $ in the s'pore saving bond or FD tat gv 3% interest p.a. and use the interest to pay for the rental? e.g. put 1.2m and get 36k interest tat enough to pay for the flat rental, in this way u can still hv the cake and eat it.

[@choonsengteo9694]

Don't be jealous about theirs purchase. Their money, their business.

[@titusphilip1310441]

unfortunately the reality is we cannot live forever. most of us become vegetable after after age 85! what 's the point have 10 million dollars in your bank account but 24 hours bed ridden? reality hurts

[@changying657]

Hdb have good value Good yield. Many units roi in 20 years So 60 years free money if you rent it out Don’t depend on government to take care of you and family Policy can change 20 years to 50 years time the current people in gov departments will all be changed in due time.

[@woonty9981]

By the time 99 years lease is up, most would be gone if not govt will ask you to buy those shorter lease ones since in our last few years Senior couples in their 50s-60s won't mind as long as can outlast their life expectancy with the same budget eg. $1'm cannot buy a central condo but can buy bigger 5rm HDB

[@kennethgoh7198]

+1

[@tuckwengtor9421]

We must understand how the demograhics and population of HDBs are being built. I believe Singapore starts building our HDBs from 60s onwards, and at that point of time, the number of flats built are not many compared to today. So when nearing 2059 or 2060 (or now at this present moment of time), before these first phase of flats run out of its tenure, I think the government will have the financial capacity to VERS or SERS them. That is why people believe government will take care of them...............(that is now!) However, the mass population of HDBs across our island were being built from 1980 onwards. We are not talking about a few or tens of flats, we are talking about at least a couple hundreds if not close to a thousands.........now one needs to comprehend that though Singapore is rich but how can the government possibly be able to VERS or SERS all these massive HDBs come 2080 or 2090 onwards????? So whoever governs Singapore by then will have a significant challenge!! Hence I don't think any credible government now have a creative solution yet for the time 2080 onwards.........................IMHO.

[@ansonong2691]

Fat hope HDB flats lease could be extended with the huge amount reaching 99 yrs buyers beware

[@Stat8989]

This basically applies to all leasehold properties, there are so many 99 leasehold condos that are priced at 2m. The value of these condos will all go down to zero if there is no enbloc. So where is the rationale? Govt is the one putting a base price to all GLS. So, who can tell me what the root cause of this problem is?

[@dps2933]

You mean let developer bid at SGD1? They will sell at 50k?

[@Stat8989]

@@dps2933 Market forces will do its job. But Govt is putting a base price for each parcel of land. Hence, govt is controlling land prices. There is no cap on prices but a floor is placed.

[@fookcheongloke1741]

Does 99 years condo same as HDB ? Will go down to zero ?

[@1m65]

Yes, but a lot of people say private property have a lot more flexibility to extend lease

[@margaretchong1450]

​@@1m65harder for the new flats. They have max'd out plot ratio. The flats are already so tiny.

[@kengleetan63]

Not possible to 'help' all these lease decaying HDB. It is just becos there are just too many of them and this lease decaying issue occuring in a short time frame of 10 to 20 yrs! The so called VERS is just a half bolied scheme to pacify those who are worrying about their lease decaying HDB and is just kicking the can further down the road. In the end ,those HDB which were built in the early 1980s up to early 2000 are the largest in number to face this crisis. Many owners of such units themselves are already elderly, retired and no longer earning a good income. And this is their only roof over their heads. Unless they can dispose of such HDB units in good time and escape the reality that will eventually hit them and retreat back to another housing, then this lease decaying issue might not be so worrying for such HDB owners. The final deal if it is ever offered by the gov for the predicament of such HDB owners ,will never be a WIN-WIN deal. And why should it be? The gov remains as the landlord and is just offering his tenants a goodwill gesture, to vacate their unit or else they get the 'eviction notice ' on them. Many locals owning such HDB, think their can leverage this lease decaying issue on the gov as a threat with their votes. But I don't think so. The gov have held all the power and has complete control and monopoly over all these housing,both HDB and pte. And dissatifaction from ppl in such HDB , have no effect at all on the final voting outcome in future election. Unless, these owners can dispose of such units within a reasonable time frame before the shit hits the fan ( assuming there is a buyer so goon to buy from them at a high price) then most of these owners of such HDB have no choice but to face the dreaded outcome of flats that were valued way over 150 to 200% or more of their initial purchase price , suddenly find that their so called 'asset that will never fall in value' as so promised by the PAP gov then, have their value tumbling down faster than the price of a junk stock! Which brings us to the fact that once the market react to the fact that prices of such HDB are left unwanted or are sold with lower and lower prices, then the truth of this video begins to come true. Guess the phrase..."Who did you voted for?"... said many times, will bring the reality right in the faces, to such HDB owners😆😆

[@meklavier4664]

The government already come out to say the leaaase will count down to zero.

[@CK-pv5yq]

Mr Loo, how about ，Can you think about creating an enclave for Sg people to retire in Mt Austin, a sizeable retirement enclave. Forget about Singapore.

[@1m65]

Ha ha… love to have this idea implemented.

[@jubileeteo]

Let me explain why I purchase my 1 mil flat with less than 50yr lease recently. First of all , this unit is next the new mrt line and renovated unit. I need the convenience now and as I grow older. I cannot imagine spending $200k a year on a car to workaround the convenience if I had chosen to retire in some ulu part of sg or in Malaysia/ JB. It probably be dangerous for me drive in my later years and I will be needing to get to hospital easily on own . Mr Loo, would you stay in Malaysia if you don’t have a car ? Are you sure you don’t need access to SG healthcare in your later years ? Do you assume that your kids will visit you in JB every weekend in your golden years if they don’t own a car ?

[@eddielim8702]

Mr. Loo, I care!!

[@edwardlumsianming3430]

Wonder even if it is the opposition can solve this problem. S hope in year to come properties here will not send up like china

[@pathfinder1672]

I don't believe value will go to zero as there is intrinsic value of the land. When govt launch BTO flats, the sales price includes land value, so when govt wants to buy back from flat owners, they have to compensate the land value. It is in accounting books and can never go to zero unless govt depreciates it. In fact, land value appreciates as can be seen from private bids for the land. Consider this: Valuation exercise is done at every HDB transaction. If everyone says value will drop as it age, why than is valuer supporting the value and keeps on going up? Why does HDB allow owners to loan so much from them? What about owners who loan from banks? This should be the most fundamental factor to consider, not just guessing.

[@dps2933]

It will not be zero value to government, but zero value to owner when government take back and give no compensation.

[@margaretchong1450]

No HDB flat owner owns the land. You only own the airspace within the 4 walls of your unit.

[@allisonbrady1364]

Hdb flats will cfm go to zero after lease.

[@steventay5834]

HDB flat prices may drop lah. Nobody knows for sure

[@phongy45]

More importantly, HDB for local birth not new citizens that milk n run ...

[@edwardlumsianming3430]

I really wonder is HDB an asset or liability especially for the younger generation looking at the prices😅😅😅😅😅😅😅😅😅😅😅😅😅😅