Why DBSS flat is 103 years lease??

[Jp66]

I am curious why DBSS flat is 103 years lease whereas EC is only 99 years?

 

 

HDB releases Upper Serangoon DBSS site for sale

By Mok Fei Fei | Posted: 11 October 2010 1534 hrs

 

 

SINGAPORE: A Design, Build and Sell Scheme (DBSS) site at Upper Serangoon Road has been released for sale by public tender by the Housing & Development Board (HDB).

 

HDB said the site has an area of 20,000 square metres and a maximum allowable gross floor area of 70,000 square metres.

 

It is expected to yield about 630 units and has a lease term of 103 years, including a 48-month construction period.

 

Located just across Punggol Park, the site is near amenities like Hougang Mall and Kang Kar Mall, as well as schools like Xinmin Primary.

 

HDB said another DBSS site at Yuan Ching Road and Corporation Drive will be launched for tender next month.

 

That site is expected to yield 580 units.

 

HDB said more sites for DBSS development will be made available if there is sustained demand.

[Darryn]

errrr...the article says it all...

 

Including a 48 month construction period

 

48 month = 4 years,

 

103 - 4 = 99

 

So the day you collect keys got 99 year lease....

 

Can you read for comprehension or not?

[Esppppp]

103 years including 4 years construction - so effectively still 99 years?

[Jp66]

errrr...the article says it all...

 

Including a 48 month construction period

 

48 month = 4 years,

 

103 - 4 = 99

 

So the day you collect keys got 99 year lease....

 

Can you read for comprehension or not?

ok thks, because my 1st hdb flat was a re-sale unit, don't know new hdb flat start from key collection date.

Edited October 11, 2010 by Jp66

[Carer]

TS is kam lan dua chee bye

[Darryn]

ok thks, because my 1st hdb flat was a re-sale unit, don't know new hdb flat start from key collection date.

 

Mine was a "keys give back" scenario, so I also never get 99 years...but got super cheap, my neighbours were pissed (I talking $20k plus cheaper than them)

 

[Blackyv]

TS is kam lan dua chee bye

 

 

errrr.... have u taken you medicine?...

[Carer]

now that you reminded me.. .. i will go eat now..

[Jp66]

Mine was a "keys give back" scenario, so I also never get 99 years...but got super cheap, my neighbours were pissed (I talking $20k plus cheaper than them)

good for u, cheers!

[Battledome64]

hi, may i know what happens if i buy dbss after the 99th year? the property value will drop to $0?

[Little_prince]

very unlikely...

 

so far in singapore history... no hdb flat every lasted more than 40 yr?

 

before 99 yrs will kena tear down and rebuilt liaoz... or privatise and en bloc or something liaoz...

 

 

 

 

[Battledome64]

very unlikely...

 

so far in singapore history... no hdb flat every lasted more than 40 yr?

 

before 99 yrs will kena tear down and rebuilt liaoz... or privatise and en bloc or something liaoz...

 

thanks for the reply. Never considered that in mind

 

 

[SimonTan]

Two weeks ago saw the full page advert for a New EC which worked out a typical loan for a couple who wished to buy.

I was shocked to the so called $30k discount, it's a joke.

And the most shocking part was both the couple has to take a 35 yrs loan and after maxing out their cpf deduction, they are still expected to top up $200+ cash each month to finance the unit..

 

god.....where got spare cash to own car and kids....stucked in perpetual job for the next 35 yrs!!! Both of them will have to work till 65 yrs old!!!

 

 

[Zyrofillica]

Two weeks ago saw the full page advert for a New EC which worked out a typical loan for a couple who wished to buy.

I was shocked to the so called $30k discount, it's a joke.

And the most shocking part was both the couple has to take a 35 yrs loan and after maxing out their cpf deduction, they are still expected to top up $200+ cash each month to finance the unit..

 

god.....where got spare cash to own car and kids....stucked in perpetual job for the next 35 yrs!!! Both of them will have to work till 65 yrs old!!!

 

given current prices. this is normal right? this day and age wanna own govt flat, really no need to retire already.

[Perrier]

Two weeks ago saw the full page advert for a New EC which worked out a typical loan for a couple who wished to buy.

I was shocked to the so called $30k discount, it's a joke.

And the most shocking part was both the couple has to take a 35 yrs loan and after maxing out their cpf deduction, they are still expected to top up $200+ cash each month to finance the unit..

 

god.....where got spare cash to own car and kids....stucked in perpetual job for the next 35 yrs!!! Both of them will have to work till 65 yrs old!!!

 

Those EC are targeted at couples who make near 10k/mth who probably had worked for 5-10yrs and had like 150-250k worth of CPF. Not to mention they are likely to be in their early or mid 30.

 

For those who wants to start earlier, there is always the BTO which are likely 200-300k cheaper.

 

Dun wear a bigger hat that your head can fit. And I also agree that those advert in the paper are aimed to lure yuppies into over-committing themselves or who thinks that they just need to finance for 5yrs then can sell for a good profit.

 

End of the day, there are only one big winner, HDB.

[TandemAssassin]

Two weeks ago saw the full page advert for a New EC which worked out a typical loan for a couple who wished to buy.

I was shocked to the so called $30k discount, it's a joke.

And the most shocking part was both the couple has to take a 35 yrs loan and after maxing out their cpf deduction, they are still expected to top up $200+ cash each month to finance the unit..

 

god.....where got spare cash to own car and kids....stucked in perpetual job for the next 35 yrs!!! Both of them will have to work till 65 yrs old!!!

 

Really meh, I went to see a EC and they worked out the sums for me. Per month $1,200 plus installment.

 

Comfortably within your CPF if you are in the EC target group of between 8k to 10k income. Say husband and wife both earning 4.5k per month each, definitely within your monthly contribution to OA what.

 

A new launched EC is built for middle income young people; too rich for new flat and too young to have sufficient savings to buy fully private. Also, do not need a large space. So if you are not within that group, don't bother.

[Jamesc]

So DBSS people can say,

 

I dun stay in those cheapo 99 year places,

 

(can whisper quietly) Mine's a 103 year place.

[Joseph22]

hi, may i know what happens if i buy dbss after the 99th year? the property value will drop to $0?

 

 

IIRC. you cannot get loan for any property lesser than 60 years and you cannot buy a property with less than 30 or was it 50 years??