We know that HDB flats come with a lease of 99 years. During a Parliamentary session on 20th January 2014, then Minister of National Development Mr. Khaw Boon Wan confirmed that, at the end of their 99-year lease, HDB flats will revert back to the landowner (HDB). The land will then be turned over to the state. This means the value of a HDB flat at the end of the lease is zero.
Do people still buy HDB flats that are older than 30 years?
In the last 3 years, 2016 showed a record-high transaction volume of 7,670 old HDB flats. Comparing with the overall total 19,369 HDB flats sold in 2016, old HDB flats managed to clinch a 29.6% of that.
For a typical 4-room, 2,289 old HDB flats were sold in 2016 - the highest in the last 3 years.
Are old HDBs still worth the money?
We show you the most expensive old HDbs for 3-room, 4-Room, 5-Room and HDB Executive. A 3-room HDB flat was transacted even at a whopping $708,000!
If you are living in an old HDB flat, perhaps you would want to find out more about the market value and its historical trends. Check out srx.com.sg/xvaluepricing
