22 Jun '17, 3am

Experts urge private home sellers, buyers to be realistic with expectations

With the Singapore Land Authority on Tuesday (20 June) affirming the policy that no compensation will be given to owners of residential properties upon lease expiry, property experts called on private home buyers and sellers to be realistic with their expectations, reported Today Online. This comes as thousands of apartment and condominium owners will soon find their properties become undesirable over the coming decade due to shorter leases of not more than 50 years. Notably, 13 condominiums and mixed-used developments in Singapore will have leases of not more than 50 years by 2027 – or the point when values of the property would generally plummet, said the experts. Urban Redevelopment Authority data compiled by National University of Singapore School of Design and Environment, Department of Real Estate associate professor Sing Tien Foo showed there are currently 48 develo...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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