Have you considered what your condo or HDB flat will look like, after 99 years?
This question is partly inspired by Life After People, which is a series I highly recommend. And while the scenario isn’t quite the same, one thing stands out: the way built environments change after a single century.
Buildings are partly overgrown with weeds, parts of the underlying structure are exposed, and all semblance of original colour is gone. In other words, pretty much Peace Mansion at any point past 2010 (it’s a great mercy that it’s finally being redeveloped).
To use another example, consider People’s Park Complex. This was built in 1973, so it’s 51 years old. And yet, as far back as 2017, there were news reports of hour-long waits for the lift due to breakdowns (nice ceiling stain in that picture by the way), and tenants – commercial as well as residential – have told me about that weird smell which permeates curtains and carpets. Golden Mile, before it went up for redevelopment, also had serious complaints of deterioration.
Now consider that the aforementioned developments had very limited or no facilities
People’s Park Complex doesn’t have to maintain a pool and landscaped areas; and even in its heyday, facilities at Golden Mile were quite bare-bones (Golden Mile actually had a pool by the way, which they emptied in around 2003). Peace Mansion/Peace Centre also had no facilities, and even then upkeep was a struggle.
(I would know. My first office was there, and directly across from the toilet. I still see that restroom in my darkest nightmares).
So given that those projects were so simple, what’s going to happen to more complicated projects? Projects like 1,000+ unit mega-developments with “10 billion square feet of facilities” or what have you?
In 99 years, what would the struggle be to upkeep multiple pools and tennis courts, or an elaborate novelty like a rock-climbing wall, actually look at? As is, we already have condos that have permanently shut down jacuzzis, steam rooms, or parts of a clubhouse before even 30 years are up.
The fact is, most of us have never dealt with the upkeep of a property that’s past 50, let alone one that’s reaching the full 99 years.
So as much I gripe about how quickly we tear down residences – a practice I consider wasteful and ecologically damaging – I’m forced to admit that it may be a practical reality; especially for condos that have very elaborate facilities.
Meanwhile, in other property news…
- 2024 may not be the easiest year to sell your home, especially if you’ll need a replacement property. Here are some things to look out for.
- Heritage homes should have that sense of tradition; but that doesn’t mean you can’t add a few fun and playful quirks, like this unit.
- Condo units with good views, from $1.5 million? They exist, and we found them.
- Are old freehold condos still appreciating? Sure, the lease isn’t an issue; but some of the units are held together by blue-tac and positive thinking.
Weekly Sales Roundup (15 April – 21 April)
Top 5 Most Expensive New Sales (By Project)
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| WATTEN HOUSE | $7,837,000 | 2368 | $3,309 | FH |
| THE ARCADY AT BOON KENG | $3,831,000 | 1625 | $2,357 | FH |
| TEMBUSU GRAND | $3,672,000 | 1604 | $2,290 | 99 yrs (2022) |
| THE CONTINUUM | $3,320,000 | 1227 | $2,706 | FH |
| THE HILLSHORE | $3,161,280 | 1184 | $2,670 | FH |
Top 5 Cheapest New Sales (By Project)
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| LAVENDER RESIDENCE | $1,155,000 | 592 | $1,951 | FH |
| HILLHAVEN | $1,373,260 | 678 | $2,025 | 99 yrs (2023) |
| THE LANDMARK | $1,475,000 | 517 | $2,855 | 99 yrs (2020) |
| THE CONTINUUM | $1,839,000 | 646 | $2,847 | FH |
| PINETREE HILL | $1,851,000 | 764 | $2,422 | 99 yrs (2022) |
Top 5 Most Expensive Resale
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| SILVERSEA | $4,920,000 | 2497 | $1,970 | 99 yrs (2007) |
| ORION | $4,226,880 | 1776 | $2,380 | FH |
| LATITUDE | $4,120,000 | 1615 | $2,552 | FH |
| MARTIN MODERN | $3,900,000 | 1399 | $2,787 | 99 yrs (2016) |
| CUSCADEN RESERVE | $3,564,000 | 1163 | $3,066 | 99 yrs (2018) |
Top 5 Cheapest Resale
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| URBAN VISTA | $680,000 | 431 | $1,579 | 99 yrs (2012) |
| SKYSUITES17 | $705,000 | 355 | $1,985 | FH |
| LAUREL TREE | $713,000 | 463 | $1,540 | FH |
| NOTTINGHILL SUITES | $728,000 | 398 | $1,828 | FH |
| JUPITER 18 | $730,000 | 452 | $1,615 | FH |
Top 5 Biggest Winners
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
| MANDARIN GARDENS | $2,850,000 | 2034 | $904 | $1,935,000 | 6 Years |
| ORION | $4,226,880 | 1776 | $2,775 | $1,761,792 | 11 Years |
| GRANDE VISTA | $2,300,000 | 2024 | $1,854 | $1,650,000 | 11 Years |
| THE STERLING | $2,760,000 | 1324 | $1,724 | $1,560,000 | 10 Years |
| ONE K GREENLANE | $2,420,000 | 1787 | $1,368 | $1,520,000 | 6 Years |
Top 5 Biggest Losers
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
| SOPHIA HILLS | $2,088,000 | 980 | $2,132 | -$55,000 | 24 Years |
| PARC IMPERIAL | $780,000 | 420 | $1,858 | $10,000 | 19 Years |
| THE PLAZA | $1,020,000 | 807 | $1,263 | $35,000 | 19 Years |
| RV RESIDENCES | $1,020,000 | 452 | $2,256 | $67,000 | 17 Years |
| SKYSUITES17 | $705,000 | 355 | $1,985 | $75,000 | 18 Years |
Transaction Breakdown
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Frequently asked questions
Will my HDB or condo last for 99 years or more?
What happens to older buildings like People’s Park Complex or Golden Mile after many years?
Are there many condos with extensive facilities that might be hard to maintain long-term?
What should I consider if I want to sell my property in 2024?
Do freehold condos still appreciate in value despite lease concerns?
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