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Freehold Residential Property: The Advantages of Acquiring One

Homes in Singapore come with 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 only 60-year-lease plot to be sold (on 15 November 2012) for residential development; thus 60-year-lease homes tend to be available soon.

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

A 999-year lease will be equivalent to freehold.

While 30-year-lease HDB studio apartments come into play short supply and basically meant for elderly residents.

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

Residential properties with 60-year lease aren't available yet, but is in several years' time when development on the main 60-year leasehold residential land plot at Jalan Jurong Kechil is done.

Homes in Singapore are predominantly 99-year leasehold given that the government sells most arrives at 99-year tenure due to land scarcity in america. At the end of the lease period, the state can choose the land any kind of compensation for the home owners. Currently, the government does not offer freehold land parcels for sales anymore, apart from the sale of remnant State land to the adjoining landowner whose existing private land is already held under a freehold 7steps.

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

Lessees may apply for one renewal for this lease the actual SLA (Singapore Land Authority). The granting of extension is on a case-by-case basis and tend to be considered if the development is within line with Government's planning intentions, sustained by relevant agencies, and results in land use intensification, mitigation of property decay and preservation of community. Generally if the extension is approved, a land premium, decided along with Chief Valuer, will be charged. The new lease will not exceed the original, the bootcamp will as the shorter for the original as well as lease consistent with URA's planning intention.

In addition, near the finish of the lease period the State may have to have the land become returned in its original health conditions. If so, demolition of buildings, land fillings, for instance. will have to be borne coming from the current lessees.

For HDB flats, legally the flat will be returned to HDB in the end of the lease. HDB does not possess to make any monetary compensation, or offer a replacement flat into the owners. Pet owners may be required get rid of any fixtures fitting.