Hundreds visited showflat of first 'retirement resort' here

[princess_morbucks]

http://www.straitstimes.com/breaking...-here-20140104

Hundreds thronged the showflat of The Hillford, the first development here being sold as a "retirement resort" on Saturday.
The project in Jalan Jurong Kechil, which has a leasehold of only 60 years compared with the usual 99, is also one of the first property launches for the new year. It will have a 24-hour concierge service, a full-time resort manager, and commercial units such as restaurants and clinics.
For ease of movement, corridors will be wider and each block will have two lifts. Toilets in the units will have emergency call buttons leading to the concierge.
The visitors to the showflat ranged from those in their 40s - mostly looking to buy and rent out - to those over 70 years old exploring the possibility of moving in.

[Nas]

Thanks for the update! You super chop chop fast sia.

[clemdale24]

Thanks for the update! You super chop chop fast sia.

thanks for the update. the number of shoes outside... is amazing.

[wt_know]

the selling price translates to $974psf & $984psf
holy smoky for a retiree to live on their cpf savings

The indicative prices start from $388,000 for a 398 sq ft one-bedroom unit, $498,000 for a 506 sq ft two bedder, and $648,000 for a 657 sq ft two-bedroom dual key unit.

[RCT]

the selling price translates to $974psf & $984psf
holy smoky for a retiree to live on their cpf savings

My question is why they dun want to buy HDB?

[newbie11]

Hdb fully paid. This retirement home allow them to buy cheaper n rent out

[DC33_2008]

URA has created another problem for themselves. Hope it does not exhaust the savings of retirees.Any banker here, how much will the max loan given the shorter land tenure?

[chestnut]

URA has created another problem for themselves. Hope it does not exhaust the savings of retirees.Any banker here, how much will the max loan given the shorter land tenure?

Bro, assume average worker has hdb fully paid and age 40+. Has cpf of say 300k - 400k. Options available :

1. Stay in hdb and drawdown cpf regularly to spend when retire.
2. Stay in hdb and buy hillford and use it as rental and shift in there in future for retirement and rent out hdb or stay in hdb and rent out hillford.
3. Buy a 1.2 mil condo?? How to buy??? With loan tenure so short???

They have very limited choices.... They see inflation in Singapore. They feel the high cost of living.

They have very tough and limited choices....

[hyenergix]

Many people have to depend on foreigners to fund part of their retirement, as tenants or tax payers. But many of them cannot accept foreigners in Singapore.

[Kelonguni]

I think it's a very viable outlet for the cash rich, asset poor. It's harder to cash out buying HDB due to current HDB regulations.

[august]

basically URA circumventing its own rules on shoebox units.
If the govt is serious about retirement village or resort or whatever name it chooses to call it, it should not outsource its responsibility.

[chestnut]

basically URA circumventing its own rules on shoebox units.
If the govt is serious about retirement village or resort or whatever name it chooses to call it, it should not outsource its responsibility.

Which country has govt building retirement resort???

[chestnut]

http://en.wikipedia.org/wiki/Who_Moved_My_Cheese%3F

[Tan80000]

Need to pay ABSD for this type of project as the lease is only 60 years?

[玉格格]

basically URA circumventing its own rules on shoebox units.
If the govt is serious about retirement village or resort or whatever name it chooses to call it, it should not outsource its responsibility.

aiya, they r always fond of slapping themselves one.
last time they hiam shoebox inhumane when pte developer profited a lot from building shoebox. Now the shoebox they build is even smaller den most pte ones

[solsys]

Selling hospital beds here is it?

Heard got people in twenties and thirties buying Hillford after hearing from panaroma showflat agent.

[DC33_2008]

I see it more like purchasing annuity. This has no guarantee.

Bro, assume average worker has hdb fully paid and age 40+. Has cpf of say 300k - 400k. Options available :

1. Stay in hdb and drawdown cpf regularly to spend when retire.
2. Stay in hdb and buy hillford and use it as rental and shift in there in future for retirement and rent out hdb or stay in hdb and rent out hillford.
3. Buy a 1.2 mil condo?? How to buy??? With loan tenure so short???

They have very limited choices.... They see inflation in Singapore. They feel the high cost of living.

They have very tough and limited choices....

[newbie11]

Need to pay ABSD for this type of project as the lease is only 60 years?

Of cos. absd don't not discriminate lease tenure

[chestnut]

I see it more like purchasing annuity. This has no guarantee.

Good for singles and those w/o kids....

[minority]

Hdb fully paid. This retirement home allow them to buy cheaper n rent out

Want to retire in style

[Tan80000]

Of cos. absd don't not discriminate lease tenure

Then with 3% stamp duty n 7%ABSD, psf will be about 1.1k...must else buy 99 year lease OCR condo like the coming new launxh Riverbank which about 1k psf?? stay 40years n still can sell away with 60 years lease?

[minority]

URA has created another problem for themselves. Hope it does not exhaust the savings of retirees.Any banker here, how much will the max loan given the shorter land tenure?

So many options out there. No one point the gun at them to buy.

[august]

assume TOP in 2016, the lease will be left 56 or 57 yrs. Another 7 yrs after that the lease will be 50 yrs or less. Will there be issue with bank loan for the next buyer?

[CRViper]

developers really can come out with "ideas" to push units lol

[phantom_opera]

china property mostly also left 60LH still very ex ...

[DC33_2008]

This development is near a lot of FH condos.

assume TOP in 2016, the lease will be left 56 or 57 yrs. Another 7 yrs after that the lease will be 50 yrs or less. Will there be issue with bank loan for the next buyer?

[玉格格]

china property mostly also left 60LH still very ex ...

but the prob is, in sg, tis retirement resort is the odd one out.

[solsys]

assume TOP in 2016, the lease will be left 56 or 57 yrs. Another 7 yrs after that the lease will be 50 yrs or less. Will there be issue with bank loan for the next buyer?

Not suppose to resell, it's supposed to be, "Till death do us part,"