Gaynor gives his property market insights on whether it is a good idea to buy old properties for en-bloc. Should you invest in a HDB with 70+ years remaining lease?
Find out what property investment tips Gaynor has to offer now.
Follow Gaynor on Soho now.
Here’s the transcript of the video:
If you want space, old properties. You want new, small space right? So then comes another question, How old is old? Correct? How new is new right? Of course new is new launches, you can go grab it and buy. Then how old is old? So that's the thing, I think there are a lot of people who also wants to buy old properties because of en-bloc. Right? For en-bloc if you ask me, I'm not too sure, because this one is like you buy, you lucky, you got it, seriously right? You know, no one is able to tell you this property is going to en-bloc, right? So what if don’t have en-bloc, you know stuff like that. So I think how old is old, I generally I won’t touch seventy-plus years and below properties. Balance seventy years and below. Because you probably will stay a good eight years and if you after you stay a good eight years, it will be sixty-plus, right? I think now of these days I see HDB flats already have sixty-plus remaining lease and people are avoiding it, buyers are really avoiding it. So I think it goes for the same for private unless the buyers are buying it with in mind that they feel that place has a potential en-bloc then that's a different thing right. Else, I probably wouldn't touch those seventy-plus years, seventy-eight I also won’t touch already. So long as you touch the seventies, I don't for me that's my own preference because it's closer to, because you see, you will stay for another eight, nine, ten years, you cannot tell me the day you buy, you tell me that I'm going to stay for five years and going to sell. You can’t. Even if you can tell me, but plans will change right. Plans will definitely change. So that's why I will avoid, I will buy something ninety plus, eighty plus, eighty-eight, eighty-seven, I think that’s safe because if I want to sell, I probably will still sell with left seventy-eight to seventy-seven, I think people will still buy.
