{"id":105179,"date":"2019-03-20T10:22:40","date_gmt":"2019-03-20T03:22:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-flats-still-retain-value-even-when-owner-turns-85-says-heng\/"},"modified":"2019-03-20T12:04:05","modified_gmt":"2019-03-20T05:04:05","slug":"hdb-flats-still-retain-value-even-when-owner-turns-85-says-heng","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-flats-still-retain-value-even-when-owner-turns-85-says-heng\/","title":{"rendered":"HDB flats still retain value even when owner turns 85, says Heng"},"content":{"rendered":"


\nSpeaking at a PropNex conference, the minister also dismissed the notion that HBD dwellers are not owners but merely tenants.
\nFinance Minister Heng Swee Keat has assured Singaporeans that HDB flats still have value even when its owner has reached 85 years old, reported Today Online.
\nCiting the example of a 25-year old Singaporean acquiring a new 99-year-lease flat, Heng noted that the housing unit will still have over 30 years of its lease left when the owner reaches 85 \u2013 the life expectancy in the city-state.
\nMore: Older HDB Resale Flats Depreciate Slower Than Private Condos: Study
\n\u201cIs there still value in the flat? Absolutely,\u201d he said at the annual PropNex conference on Tuesday (19 Mar).
\n\u201cAt the age of 85, you decide whether you want to pass on the property to your children. You decide what you want to do with it. There is still value in the property. It is not going to go to zero when you are 85.\u201d
\nThe minister also dismissed the notion that HBD dwellers are not owners but merely tenants.
\n\u201cThis debate that is going on\u2026 (People saying), \u2018No, this is a terrible hoax\u2026 This is macam (like) rental\u2019, I mean, come on, get real,\u201d he said.
\nThe perception was born out of the authorities\u2019 clarification in March 2017 that the majority of HBD flats will revert to the state upon the end of the 99-year lease.
\nWhen asked about the government\u2019s reason for intervening in the property market with the cooling measures, Heng explained that markets can be \u201cvery irrational\u201d when left on its own. With this, the authorities had to make sure that property buyers are not \u201csuffering from irrational exuberance\u201d, believing that prices will only go up.
\n\u201cThe result is that the prices overshoot, and then when it comes down, it also overshoots. So you have huge cycles, which is not good for your business and not good for individuals.\u201d
\nHe added that a sustained pace of growth will be to align it with the rate of wage growth and economic growth.
\nFind\u00a0HDB flats for sale\u00a0or read our\u00a0HDB guides. Can you afford an HDB flat? Check your\u00a0affordability\u00a0now.\u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB flats still retain value even when owner turns 85, says Heng<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Speaking at a PropNex conference, the minister also dismissed the notion that HBD dwellers are...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-105179","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rmr","jetpack-related-posts":[{"id":134311,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-price-growth-slows-to-0-4-in-q4-2022-hdb-resale-prices-rise-2-3-in-q4-slowest-growth-in-2022-and-more\/","url_meta":{"origin":105179,"position":0},"title":"Private home price growth slows to 0.4% in Q4 2022, HDB resale prices rise 2.3% in Q4, slowest growth in 2022, and more","date":"January 30, 2023","format":false,"excerpt":"\r 26th January \u2013 30th January 2023 Private home prices rose at a slower pace in Q4 2022, rising 0.4% compared\u00a0to the 3.8% hike in Q3 2022. Meanwhile, HDB resale prices logged their slowest quarterly growth for 2022, at 2.3% in Q4 2022. \u00a0 1) Private home price growth slows\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/01\/Singapore-apartments.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":104149,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/930000-hdb-households-to-get-sampcc-rebates-this-year\/","url_meta":{"origin":105179,"position":1},"title":"930,000 HDB households to get S&amp;CC rebates this year","date":"February 19, 2019","format":false,"excerpt":"\r The collected S&CC are used by town councils to maintain and upgrade HDB estates in Singapore. Around 930,000 qualified Singaporean households living in HDB flats can look forward to receiving Service and Conservancy Charges (S&CC) rebates this year, according to Finance Minister Heng Swee Keat when announcing the 2019\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44908,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-demand-expected-for-hdb-resale-flats-experts\/","url_meta":{"origin":105179,"position":2},"title":"Higher demand expected for HDB resale flats: experts","date":"February 21, 2017","format":false,"excerpt":"\r Despite expectations of higher demand in the HDB resale market, prices are not likely to shoot up, say analysts.\u00a0 \u00a0 HDB resale flats have become more appealing for first-time buyers in light of the higher CPF housing grants announced as part of yesterday\u2019s budget, said Eugene Lim Key Executive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20866,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-flat-prices-stay-flat-in-q2\/","url_meta":{"origin":105179,"position":3},"title":"HDB resale flat prices stay flat in Q2","date":"July 22, 2016","format":false,"excerpt":"\r HDB resale transactions were up last quarter, signalling a return of confidence in the market. Prices of HDB resale flats remained unchanged during the second quarter, after dipping by 0.1 percent in the first three months of 2016, according to more detailed public housing data published by the Housing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122114,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-bto-flats-sold-within-a-year-of-reaching-mop-doubles-from-2016-to-2020\/","url_meta":{"origin":105179,"position":4},"title":"More BTO flats sold within a year of reaching MOP, doubles from 2016 to 2020","date":"September 21, 2021","format":false,"excerpt":"\r 13.4% of\u00a0BTO flats which reached their MOP were sold within a year, up from 6.5% in 2016. The Housing and Development Board\u2019s (HDB) statistics showed that the proportion of Build-to-Order (BTO) flats that were sold within one year of achieving their Minimum Occupation Period (MOP) has doubled from 2016\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/HDB-EIP.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":71623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-hdb-flats-resold-for-over-1mil\/","url_meta":{"origin":105179,"position":5},"title":"3 HDB flats resold for over $1mil","date":"November 13, 2017","format":false,"excerpt":"\r Despite a steady drop in HDB resale prices, at least three units in Holland Village and Commonwealth have been sold for more than $1 million so far this year, reported the Straits Times. According to PropNex, one of them is a 36th-floor unit at Block 18D in Holland Drive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105179"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=105179"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105179\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=105179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=105179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=105179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}