Why so many cheap free-hold condo in Sg ?

skyline63 SG

The answer is simple. CONDO cannot rent out already. Because HDB can rent to the public. If I am a worker in Singapore. Why should i waste money rent condo and not HDB ? HDB nearer to the MRT. Got hawker centre to eat outside. Why not right ? And can go market. Nearer.

So you see the point ? What happen ? Right ? Times change OK ! CONDO no longer value. That why so cheap nowdays even free-hold.

KumSioJui SG

mmm... 1 condo still few hundreds "k" leh, somemore condo facilities if you use or don't use also need to pay .. and that can range between $100+ to as much as $500+ ... er .. also not incl of your car and other utility/food bills ... all this to average income person
is cheap meh?

So the question is if HDB is so cheap why bother with condo?

well because some people are just so filthy rich that they can afford it to show off, or it may be they just average income earning family but work off the installment over few years so by the time they retire, the property or estate would be "mature" and worth more than what was initially paid for then they have something to live on in their old age.

Or it can be that they are trying to "siam" paying taxes to garmen, I dunno details lah but I heard that a company can defer paying few hundred "k" a year in taxes if they buying a nice swanky condo or property in the company's name. In other words declare a loss for the year.

Then they will use the condo facilities for company gathering/bbq lah .. company out of town visitiors lah .. so on and so forth.
Very Happy

ditzy SG

Cheap also complain. wtf? Laughing

highway69 SG

Different price ,different goods.There’s always a catch.

limahkow SG

cheap also see whether got money to buy or not?

between a nice condo and hdb who wants to stay in hdb and smell the incense, see all the nauseating bamboo sticks with underwear sticking out and all those people who owe money and then stick all those notices all over

i noe it because i lived in hdb flat before and so sick of people putting all those Owe money pay money notices and

nowadays hdb flat renting out for 800 dollars like one of my colleagues want to rent hers out for this amt and only two rooms

wat for, people wld rather go and rent condo, who so free want to rent a hdb flat when they can get a nice condo for almost the same price

who so free want to stay in hdb when they can stay in condo, hdb got those unsightly underwear hanginig out of bamboo sticks and the water dripping out of windows,
yucks, i rather stay in the condo that i am staying in now

shinta SG

for some condos... their prices are so low... or hdb flats prices are so high.. my mother said to me, y not buy a condo? u pay ok?

Crying or Very sad

if its about the same... y not Wink but.. i'm a poor kid Sad

dragg SG

if you can afford a condo of course it is always better.

SilentAssassin SG

Cheap?

Open ur eyes FFS... you got suckered by cheap marketing!

U saw "FROM $400K" condos. Two words: "Dio Pian".

Sure, of coz got, 700sqft you want?

Lowclassman SG

Don't be fooled by the prices of Condo offered!!! The freaking Gov is holding high on HDB Flats value!!! The gov have been artificially jacked up the land cost as well; and refuse to bring down the land prices which that would affect on many other things significantly. Our land costs have been over valued by as comparing to the demand which do not exist at the moment. The cost of building an average condo is between 250K to 300K per unit including land cost. For HDB, cost of the average for 4rms and 5rms on materials, labourer, infrastructures, water, gas and elect installations, design and engineering is between 120K to 150K. Just look at how much are the Gov selling to us!!!!! We are born Singaporeans; if we don't live here, then where on earth we should be living in??? after 99 years leased, your children and grand children go back to ZZZZero again. Start all over and struggle to pay (the freaking loans with ridiculous interests rates that double by the time if you managed to pay all) their whole life through again. That's all the gov said ""subsidy housing "" to ''Singaporeans""

elindra SG

For condos, you have to pay for maintenance and also contribute to their sinking fund. Some "high-class" condos requires you to pay over 1k a month in total.

My personal view is that when you live in a condo, you are forever in debt Laughing due to the maintenance and sinking fund. With the economy being uncertain, I believe most people won't opt for a condo for the above reasons. It makes better sense to live in a flat too if you don't mind having less privacy. Just imagine if you just pay a low $500 per month in total for a condo (maintenance & sinking fund):

$500 x 12 = $ 6,000

I can go away for a short trip or buy a new plasma.

Unless of course I can get a really good rental amount for my condo but this is no longer the case lately.

diggo SG

where where where???

where are the cheap FH condos?? I want to buy...

BTW, wat are the regulations in SGP that governs the purchase of private properties??

Can rent it out?
Can own other properties?
Can own HDB flat?
Can.... wat other restrictions?

dragg SG

condos are private properties. nothing to do with HDB

limahkow SG

if the maintenance so high, it means that the number of units are very small , thats why they have to spread out the cost to lesser units

if they shd find themselves in debt, they din do planning properly, i have two units, one is fully paid, the other one still got 100k plus in debt, so i am fairly okay

the lesson learnt is to calculate properly and make sure you dun overleverage yourself

anyway, must do your sums correct
i know it, because i own two condos and the maintence is only about 800 dollars for three months and i have three pools, four tennis courts and a beautiful environment

anyway, if someone who buys the condo doesnt know its $500 per month, then i wld say he is very foolish for not knowing wat he is buying

limahkow SG

if u own hdb flat, can buy condo but must ask for permission and you can rent out your condo, but not allowed to rent out your hdb flat , tis is to prevent people from profiteering from hdb, or maybe can rent out whole hse but keep one room locked

the reason is simple : the govt dun want people to enjoy condo plus go and earn money from hdb

but if the owner goes overseas to work, i dun know if its a different story already

but better to consult hdb first
but i know that if you own condo, cannot apply a new flat from hdb
and also if u ever owned a private property, only after a certain number of months after your name is removed from the private property then you can apply for hdb flat, that is wat i understand but dun noe if the rules have changed already

shade343 SG

Dont pay maintenance lor...the ppl in my condo got quite a few never pay...den the MC nvr take action cos they cant be bothered. Laughing

limahkow SG

the accumulated owing in fees plus the high interest wld be charged together with the legal fees (maybe) and when the person sold the house, the MC wld have a legal lien over the house meaning when the next person wants to buy, this lien wld be over the house and the amt can be deducted from the sales proceeds

in short, they cant run away from it

gerrykoh SG

Staying in HDB is ok but u have to put up with inconsiderate neighbours who dirty the lift & your laundry, make a lot of noise.
The advantage is no maintenance but u still have to pay HDB carpark.

A freehold condo is still better than HDB which is 99 yrs.
U can pass it to your kids. They don't have to worry abt housing loan.
When it is old, u can sell enbloc & pocket a huge sum.
Also security is better.

HDB will start to depreciate once it is over 10 yrs. Also u may have a problem selling cos most banks will loan if the property is too old.

For rental, it is better to buy in prime location - Dist 9, 10, 11.

shinta SG

wat i heard from sch last sem.. that would be jan this year..

the flat's value starts depreciating at a scary rate when it reaches it's 70th year.. almost no banks will provide the loan...

dragg SG

depreciate!! how? the prices of HDB follow the market rate. my 3 rm flat is 20 odd years. it has gotten more expensive. i dont see it depreciating!!

limahkow SG

district 9, 10 and 11 not necessary better, so many condos there and now with the casinos building and the influx of expats to singapore, condos or apartments near the two would be casinos maybe popular...as some of the expats may need to be "on call" 24 hours after the casinos are built

so condos near the two condos or nearby the east or sentosa wld be very popular

thats wat i think