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Thread: Some Condos Age Well, Most Don''t...

  1. #1
    Lou
    Guest

    Default Some Condos Age Well, Most Don''t...

    Hi all,

    I don't whether there is a similar post like this before, but don't you guys think that the majority of the newer condos' facades look the same. Cubic, floor to ceiling glass, etc.. I'm neutral to the look, functional in my opinon, some are nice but most are getting bloody boring Imagine what they will look like 15 years down the road, do you think the present 'look' will age well?

  2. #2
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    Quote Originally Posted by Lou
    Hi all,

    I don't whether there is a similar post like this before, but don't you guys think that the majority of the newer condos' facades look the same. Cubic, floor to ceiling glass, etc.. I'm neutral to the look, functional in my opinon, some are nice but most are getting bloody boring Imagine what they will look like 15 years down the road, do you think the present 'look' will age well?
    What is not boring to you?

  3. #3
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    Actually I don't think any condo is designed to last for more than 40-50 years, which is why I find some Singaporeans' insistence on distinguishing leasehold condos from freehold condos so puzzling - sooner or later the building will age and become obsolete, freehold or leasehold. I'd bet at least 50% of all the condos standing in Singapore right now will not be there 50 years from now. Did your neighbourhood look the same in 1958 as it did now?

  4. #4
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    Leasehold you can buy nothing in 50 yrs time, Freehold you buy a contemporay one.

  5. #5
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    Quote Originally Posted by Unregistered
    Actually I don't think any condo is designed to last for more than 40-50 years, which is why I find some Singaporeans' insistence on distinguishing leasehold condos from freehold condos so puzzling - sooner or later the building will age and become obsolete, freehold or leasehold. I'd bet at least 50% of all the condos standing in Singapore right now will not be there 50 years from now. Did your neighbourhood look the same in 1958 as it did now?

    Allow me to offer my two-cents worth of experience, having managed condos for more than 30 years.

    Firstly, buildings are generally able to last about 50 years in our climate, except those located near the sea where the salt sprays will cause premature ageing, reducing the lifespan to about 40 years. Concrete dries up and become porous leading to more interfloor seepage, wires and sewers need replacement, etc. So you are correct in your first point.

    But there is a big difference between freehold (or estate in perpetuity) and a 99-year leasehold.

    Although buildings are designed to last about 50 years, good maintenance can prolong a building to easily 100 years and with conservation techniques, almost indefinitely.

    But the leases are NOT for the buildings, per se, but for the LAND. In other words, if your condo is built on freehold land, then you can always tear down the buildings and rebuild it anytime you want, whether 50 years later, 30 years later or even 10 years later if you (and your neighbours) have the funds and want a change of style, e.g. from a Spanish Villa to a Hawaiian theme or a Cottage one.

    Also, if your condo is leasehold and when you pass the half-way mark, the market value will start to decline while your neighbour, a freehold property, may be enjoying the boom. Also banks don't lend to condos with less than 50 years remaining lease.

    This is why you can buy a huge bungalow off Bukit Timah area for just $200,000 because the lease has a balance of only 23 years, but for freehold, it would cost millions.

    Hope the above helps.

    Francis

  6. #6
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    [QUOTE=Unregistered]Allow me to offer my two-cents worth of experience, having managed condos for more than 30 years.

    Firstly, buildings are generally able to last about 50 years in our climate, except those located near the sea where the salt sprays will cause premature ageing, reducing the lifespan to about 40 years. Concrete dries up and become porous leading to more interfloor seepage, wires and sewers need replacement, etc. So you are correct in your first point.

    But there is a big difference between freehold (or estate in perpetuity) and a 99-year leasehold.

    Although buildings are designed to last about 50 years, good maintenance can prolong a building to easily 100 years and with conservation techniques, almost indefinitely.

    Lease can be top up with quite reasonable cost and this is common practice in all the places that I live all over the world. This is the main reason many LH properties were selling at record price in enbloc sales.

  7. #7
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered
    Allow me to offer my two-cents worth of experience, having managed condos for more than 30 years.

    Firstly, buildings are generally able to last about 50 years in our climate, except those located near the sea where the salt sprays will cause premature ageing, reducing the lifespan to about 40 years. Concrete dries up and become porous leading to more interfloor seepage, wires and sewers need replacement, etc. So you are correct in your first point.

    But there is a big difference between freehold (or estate in perpetuity) and a 99-year leasehold.

    Although buildings are designed to last about 50 years, good maintenance can prolong a building to easily 100 years and with conservation techniques, almost indefinitely.

    Lease can be top up with quite reasonable cost and this is common practice in all the places that I live all over the world. This is the main reason many LH properties were selling at record price in enbloc sales.
    Dream on enbloc dreamers.

  8. #8
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered
    Dream on enbloc dreamers.
    En blocs come in waves.

    Sometimes it's quiet, sometimes it picks up.

    The Government increased plot ratios in order to enable en blocs.

    That's the long term plan of the Government - i.e. to increase intensity of living space to accomodate more people.

    Even HDB itself has the Selective En Bloc Scheme (SERS).

    En blocs are part of the grand scheme of things.

    In fact, older properties with en bloc potential are still the best real estate investment, compared to brand new condos from developers.

  9. #9
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    Compare the psfppr of the enbloc prices between LH and FH and you will realise the difference. The best LH enbloc is Farrer Court which only has a psfppr of 700psfppr. The FH ones are way above - I believe u can go to "enbloc achieved" portion of this website to see the numbers. Therein lies the difference in value - and it is significant.

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered
    Allow me to offer my two-cents worth of experience, having managed condos for more than 30 years.

    Firstly, buildings are generally able to last about 50 years in our climate, except those located near the sea where the salt sprays will cause premature ageing, reducing the lifespan to about 40 years. Concrete dries up and become porous leading to more interfloor seepage, wires and sewers need replacement, etc. So you are correct in your first point.

    But there is a big difference between freehold (or estate in perpetuity) and a 99-year leasehold.

    Although buildings are designed to last about 50 years, good maintenance can prolong a building to easily 100 years and with conservation techniques, almost indefinitely.

    Lease can be top up with quite reasonable cost and this is common practice in all the places that I live all over the world. This is the main reason many LH properties were selling at record price in enbloc sales.

  10. #10
    Unregistered
    Guest

    Default Re: Some Condos Age Well, Most Don''t...

    Buildings can last hundreds of years if well maintained. In fact, the enblocs are more out of greed than a real need to tear down those properties. Sometimes, I wonder if there is a need to chase the newest "trend" in housing, like yourself. Now is the office building all-glass look, and the past "resort look" or "colonial look" condos become out-of-date. Then 10 years later, u may yearn for the spaceship look or whatever that is "in" and therefore want to enbloc your property, even if it is in good shape. It is really a waste of scare building and construction resources.

    Anyway, enbloc is almost dead now. I know there are people who still believes everyone will kena one enbloc windfall in their lifetime because all properties will get old and enbloc. I take a different view. Property developers want to make money at the end of the day. If it is not economically viable to enbloc your property, they will not do it, even if u offer at a huge discount, let alone make money. So buy a place that you like to stay, don't always dream of an enbloc windfall.

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered
    Allow me to offer my two-cents worth of experience, having managed condos for more than 30 years.

    Firstly, buildings are generally able to last about 50 years in our climate, except those located near the sea where the salt sprays will cause premature ageing, reducing the lifespan to about 40 years. Concrete dries up and become porous leading to more interfloor seepage, wires and sewers need replacement, etc. So you are correct in your first point.

    But there is a big difference between freehold (or estate in perpetuity) and a 99-year leasehold.

    Although buildings are designed to last about 50 years, good maintenance can prolong a building to easily 100 years and with conservation techniques, almost indefinitely.

    Lease can be top up with quite reasonable cost and this is common practice in all the places that I live all over the world. This is the main reason many LH properties were selling at record price in enbloc sales.

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