This Rare Condo Has Both 99-Year And 993-Year Leases: We Explore Unusual Mixed-Lease Properties In Singapore

For most properties these days, it’s a clear-cut case of them being freehold or leasehold. But head back into the 1970s or 80s, and you’ll find things weren’t so neat back then. For reasons we no longer fathom (but are investigating!), some properties have a mix of leasehold and freehold units; and their 99-year leases may even have different start and end dates. Here are a few interesting cases we found:

Properties with mixed or “unknown” tenures based on URA's transaction database

Project	Tenure
SPOTTISWOODE PARK*	92 yrs from 30/06/1989
SPOTTISWOODE PARK	99 yrs from 01/08/1976
BRADDELL VIEW	99 yrs from 01/04/1978
BRADDELL VIEW	99 yrs from 25/03/1981
BRADDELL VIEW	99 yrs from 29/04/1981
BRADDELL VIEW	102 yrs from 01/02/1978
BRADDELL VIEW	103 yrs from 03/02/1975
BRADDELL VIEW	103 yrs from 01/08/1977
PARK VIEW MANSION	99 yrs from 01/06/1971
PARK VIEW MANSION	99 yrs from 01/08/1973
PARK VIEW MANSION	99 yrs from 01/08/1971
PARK VIEW MANSION	99 yrs from 01/10/1976
MANDARIN PARK	999 years leasehold
MANDARIN PARK	Freehold
MANDARIN PARK	999 yrs from 01/07/1976
SHUNFU VILLE	99 yrs from 01/10/1986
SHUNFU VILLE	99 yrs from 01/08/1986
SHUNFU VILLE	99 yrs from 01/05/1986
ENG KONG PARK	Freehold
ENG KONG PARK	999 yrs from 16/03/1994
FLORENCE REGENCY	99 yrs from 01/04/1988
FLORENCE REGENCY	103 yrs from 01/12/1985
FONTAINE PARRY	999 yrs from 22/08/1883
FONTAINE PARRY	999 yrs from 16/08/1877
HONG LEONG GARDEN SHOPPING CENTRE	956 yrs from 27/05/1928
HONG LEONG GARDEN SHOPPING CENTRE	999 yrs from 27/05/1885
LAGUNA PARK	99 yrs from 01/02/1978
LAGUNA PARK	99 yrs from 24/08/1977
LOYANG TOWNHOUSES	999 yrs from 01/01/1885
LOYANG TOWNHOUSES	946 yrs from 01/01/1938
NEPTUNE COURT	99 yrs from 01/09/1976
NEPTUNE COURT	99 yrs from 01/11/1975
ORCHARD COURT	99 yrs from 01/07/1973
ORCHARD COURT	993 yrs from 01/01/1973
PEARL BANK APARTMENT	99 yrs from 02/06/1970
PEARL BANK APARTMENT	89 yrs from 31/12/1979
SEASIDE PARK	999 yrs from 01/01/1965
SEASIDE PARK	Freehold
ST MICHAEL'S COURT	999 yrs from 02/06/1882
ST MICHAEL'S COURT	Freehold
SUITES DE LAUREL	999 yrs from 10/06/1885
SUITES DE LAUREL	999 yrs from 10/06/1884
TOWNHOUSE APARTMENTS	99 yrs from 15/11/1977
TOWNHOUSE APARTMENTS	99 yrs from 01/12/1977

The significance of mixed leases

We’re told that mixed-leases emerged as a result of transitions between regulatory practices, and different tenure systems in the past; although even among realtors, no one has given a clear explanation of how or why it happened (if you do know, do reach out to us and tell us!)

What we’re currently looking into is the impact on en-bloc sales. At the moment, we’re not certain how these are likely to proceed, especially for cases where the disparity is quite significant.

Case in point: Orchard Court. This condo was built in 1970 in a prestigious location: it’s along Oxley Road, about a nine-minute walk from Dhoby Ghaut MRT.

What got our attention were multiple transactions within the development that showed different lease periods. For example, here's this one where the transaction of a 993-year lease unit at $1,120 psf, back in 2018. Just a month later, another unit in the same project of the same size and block – which was on a 99-year lease – transacted at $1,583 psf. From what we've seen, this is the only non-landed residential development in Singapore that has such differing leases between the units (most of the time this happens, it is within a landed estate). It could even be possible that there are owners who've bought thinking that this is purely a 99-year leasehold development.

Huge divergences like this can make the overall price movement of the project almost meaningless. The unit count is also small (94 units) with few transactions, so the prices for this property are bound to be very volatile.

En-bloc sales may also be messy, given the different leases involved. We’ll update you once we get a clear answer as to how such things would be settled. If it turns out that the developer gets to treat the whole project as freehold (I.e., no need to top up any lease), this is a big windfall for the leasehold unit owners (although this is highly unlikely).

This also makes unit selection quite important. Usually, we focus on factors like which units are higher up, closer to the main facilities, have better facing, etc. For these mixed-lease properties though, you need to consider whether that specific unit is leasehold or freehold.

On a related note, some mixed-lease properties have leases with different start dates.

You can see some examples above. Spottiswoode Park, for instance, has an 85-year lease unit with a lease commencing in 1990, while many 99-year leases commence in 1973 (so the 85-year lease will last till a bit later than the 99-year ones).

For Braddell View, although all the units are leasehold, they range between 99 to 103 years, with lease commencement dates ranging between 1975 to 1981.

Some of these differences are not too big, but it’s worth taking note of, especially as the development gets older.

Likely no impact on the resale potential for now, according to realtors

Realtors we spoke to said there’s not likely to be much impact on resale prices, barring very huge discrepancies as we found in Orchard Court. A difference between 999-years and freehold in the same development, for instance, is functionally irrelevant.

However, one realtor noted that mixed leases are a very clear sign of age; and buyers tend to assume that a building is old or run down, if they see traits like mixed lease. In this sense, it can be a slight disadvantage.

Ultimately though, these concerns will come second to location, maintenance, and facilities.

For updates on this when we get them, follow us on Stacked. We’ll also provide you with in-depth reviews of new and resale properties alike.