Commentary A Record 259 Million Dollar HDBs + 10.6% Price Increase In 2021: A Roundup Of The Property Market

  • January 28, 2022
  • 8 min read
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Ryan J

Ryan is an old school print journalist gone digital. He's lived in almost every type of housing in Singapore, from flats to landed homes. Over the past 18 years, he's been a content developer for companies large and small, a co-founder in an education business, and sometimes a voice on the radio. He also spends too much time and money on painting little plastic soldiers.

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Dy Francisco III
Dy Francisco III

1) Will HDB flats be worth zero at the end of the 99-year lease?

2) If yes, WHEN will the rapid decline to zero likely begin?

3) Will a large number of old flats (whose value is declining to zero and increasing between 10,000 and 20,000 annually as leased is used) create a market overhang depressing the price of all types of residential properties?

Stacked Homes
Stacked Homes

Hey! Thanks for your questions. 1) Yes, any property at the end of 99 years would be worth $0. It would be unfair for previous owners who sold at market value knowing it’s going to go to $0, only for the last owner to then be compensated monies at the end of the lease. 2) No one knows this point yet as it hasn’t happened. We’re still seeing some 50-year old HDBs appreciate during market exuberance. 3) On point 3, assuming the government seizes the HDB and offers no recourse such as relocation, then the supply is essentially gone while… Read more »

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