Freehold Residential Property: The Benefits of Acquiring One

Homes in Singapore include different lease periods:

30-year lease (HDB studio apartments)

60-year lease (private housings)

99-year lease (executive condominiums, private housings, all HDB flats except for studio apartments)

103-year lease (private housings) (Theses houses sit on freehold land owned by private developers.)

999-year lease (private housings)

Freehold (private housings)

*A land at Jalan Jurong Kechil is most important 60-year-lease plot to be sold (on 15 November 2012) for residential development; thus 60-year-lease homes will be available early.

Most housings in Singapore either crowd freehold or 99-year lease, with disorderly making along the bulk.

A 999-year lease is almost equivalent to freehold.

While 30-year-lease HDB studio apartments are available short supply and merely meant for elderly home buyers.

Private developments with a 103-year lease period (the lease period is according to the developer) on freehold land are few and between. At the expiry belonging to the lease, the non-governmental land owner have the right to re-acquire the land (i.e. reversionary right), sell the freehold tenure or extend the lease of a price.

Residential properties with 60-year lease are not available yet, but always be in several years’ time when development on the very 60-year leasehold residential land plot at Jalan Jurong Kechil is accomplished.

Homes in Singapore are predominantly 99-year leasehold given government sells most hits 99-year tenure due to land scarcity in america. At the end of the lease period, the state can buy the land with compensation to the home operators. Currently, the government doesn’t offer freehold land parcels for sales anymore, except for the sale of remnant State land to the adjoining landowner whose existing private land is already held using a freehold headings.

However, topping up within the lease of leasehold private housings is allowed.

Lessees may apply of a renewal on the lease the actual SLA (Singapore Land Authority). The granting of extension is on a case-by-case basis and will be considered generally if the development is actually in line with Government’s planning intentions, held by relevant agencies, and leads to land use intensification, mitigation of property decay and preservation of community. When the extension is approved, a land premium, decided your Chief Valuer, will pay. The new lease will not exceed the original, the bootcamp will work as shorter belonging to the original assaulted lease based on URA’s planning intention.

In addition, near the final of the lease period the State may require the land to be returned in its original complications. If so, demolition of buildings, land fillings, for instance. will have to be borne with current lessees.

For HDB flats, legally the flat will be returned to HDB affinity at serangoon condo the end of this lease. HDB does not have to make any monetary compensation, or offer a replacement flat to your owners. The owners may be required to get any fixtures fitting.