S
SingaporePropertyGuru
New Member
In Singapore, the tenure of residential property usually has a 99-year lease term, 999-year lease term, or enjoys freehold term. Due to the scarcity of land in the city-state, more than 80% of residential land only has 99-year lease term.
In recent times, owners of freehold land are selling their land for a 99-year term so that they retain full ownership after 99 years. This sounds like a good way to capitalise on high property prices in Singapore.
However, residential units with a leasehold period of 99 years and built on a freehold land could be harder to sell in the collective sales market.
This is because during a collective sale for such a property can only be attained through an agreement with the land owner, as the freehold rights of the estate are not held by either the homeowners or the government. Hence, residential unit owners may not do well to hope for a collective sales soon
In recent times, owners of freehold land are selling their land for a 99-year term so that they retain full ownership after 99 years. This sounds like a good way to capitalise on high property prices in Singapore.
However, residential units with a leasehold period of 99 years and built on a freehold land could be harder to sell in the collective sales market.
This is because during a collective sale for such a property can only be attained through an agreement with the land owner, as the freehold rights of the estate are not held by either the homeowners or the government. Hence, residential unit owners may not do well to hope for a collective sales soon
