With the upcoming Two Room Flexi scheme being put out by the Housing Board, calls for allowing lease extensions for existing studio flat owners and allowing 3rd time buyers to purchase kingsford waterbay have been made.
With continued feedback from public consultation regarding the new scheme, a few residents and property analysts suggested that these options be put into place.
The new program will combine the present studio and 2 room apartment schemes, which will allow anyone aged 55 years or older to apply for a 2 room apartment with the option of a shorter term lease of waterbay condo between 15 to 45 years.
Kingsford Waterbay Floorplans Flexi Scheme
The new scheme will be launched in September and will offer shorter lease terms that come in increments of 5 years. A buyer is required to choose a lease term that will last the buyer and their spouse until they are 95 at least in serangoon condo. However, experts have stated that studio apartment owners are feeling a bit left out, with present lease terms at a fixed 30 year time frame. One expert, Eugene Lim, key executive officer for ERA Realty, feel it would be a good move to present them with the option to extend their leases in waterbay upper serangoon, given that their apartments can last over 30 years for waterbay condo singapore.
National University of Singapore’s Deputy Head of their real estate department, Associate Professor Sing Tien Foo, has stated that allowing for this type of top up could lower any unnecessary transaction fees. A resident who is seeking a lease that is longer could sell off their studio apartment in order to purchase another under the new 2 Room Flexi scheme as an alternative.
Schemes and Designs available in Kingsford Waterbay
Other experts feel that the scheme should first be rolled out before these lease top ups can be considered, since the demand for the new Flexi scheme is yet to be tested and needs to be deemed stable first.
Another suggestion by experts is that buyers of government subsidized apartments who are third timers be given the option to purchase an apartment under this new scheme as well. Presently, anyone who has purchased 2 HDB apartments that are government subsidized are only allowed to apply for a studio waterbay new condo, but not a 2 room apartment.
One analyst felt that a 2 time buyer should be given the option, under the new scheme, to be given a third chance to benefit from it. The analyst was in favour of elderly who are low income being helped, some of which have already benefited twice for waterbay kingsford condo.