Owners worry older HDB flats a depreciating asset

HDB flats in Bukit Merah in a photo taken on Jan 2, 2018.
HDB flats in Bukit Merah in a photo taken on Jan 2, 2018.PHOTO: ST FILE

Ageing leases plus fact that Sers opportunity is not a given make potential buyers think twice

Madam Chai received several offers when she listed her three-room Bukit Merah Housing Board flat for sale in January last year, after her mother died.

The flat had 54 years left on its 99-year lease and the administrative clerk was asking for $340,000 - about what three-room flats in the area were commanding then.

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A version of this article appeared in the print edition of The Sunday Times on April 15, 2018, with the headline 'Owners worry older HDB flats a depreciating asset'. Print Edition | Subscribe