Dear Ryan, As usual, you and your Team continue to amaze me with the wide range of posts weekly — be it review of landed housing estates, HDB largest and cheapest flat and the issues faced by landlord! I come across this yesterday and thought you might find it useful to post it in that you have always been advising...
As usual, you and your Team continue to amaze me with the wide range of posts weekly — be it review of landed housing estates, HDB largest and cheapest flat and the issues faced by landlord!
Website for obtaining past HDB sale transactions as my attempts to retrieve from URA website has not been successful. I only manage to get from Property Guru if there is an advertisement for sale of a nearby block to have some semblance. This location enjoys a prime position, nestled among essential amenities like the Pasir Ris MRT station, White Sands, Pasir Ris Town Park, and the soon-to-arrive Pasir Ris Mall. The close proximity to these facilities may positively influence property values in the vicinity. Furthermore, executive units, as the most spacious HDB type and no longer in production, consistently attract significant demand.
However, as they are over the age of 55, if they were to sell the property, any CPF funds utilised will be refunded into their Retirement Accounts . Subsequently, they will need to set aside at least the Basic Retirement Sum before they can utilise any excess amount for the next property purchase. Even if the buyers have utilised both their chances of buying a subsidised flat, they can still purchase a 2-room flexi unit but a resale levy will be payable
Furthermore, there is a Senior Priority Scheme designed for seniors seeking to purchase a two-room flexi unit within a four-kilometer radius of their current residence or the residence of their married child. This initiative aims to facilitate aging in a familiar environment or staying close to their children, increasing their chances of successfully balloting for a flat.
It’s important to note that they will only qualify to purchase a three-room BTO unit if they haven’t exhausted their two opportunities to buy a subsidised flat. If they have already acquired a subsidised flat in the past, they will be required to pay a resale levy.
Also, if this is intended to be their final property, they need not be overly concerned about a potentially reduced pool of future buyers due to the age of the flat. However, there are two crucial factors the couple should carefully consider to facilitate their decision-making process – location and timeline.
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