Asked by Catherine DENNEY
Hi,
We are going to relocate in Singapore beginning of August (probably for 10 years). We are studying the possibilities of purchasing a 2 or 3 bedroom appartment in Dover or nearby, with a maximum budget of 700,000 Sing dollars if we can get a 80% mortgage. 1)Is it possible to find any freehold or 999 years flat at this price? 2) On the other hand, if we buy a 15-year old or more flat with a 99-year lease,does it mean there is only 84 years or less left on it, and where would that leave us if we want to resell in another 10 years? Would the sale still enable us to refund the rest of the loan, or would the flat have depreciated too much because of the few remaining years? Thanks for your comments.
We are going to relocate in Singapore beginning of August (probably for 10 years). We are studying the possibilities of purchasing a 2 or 3 bedroom appartment in Dover or nearby, with a maximum budget of 700,000 Sing dollars if we can get a 80% mortgage. 1)Is it possible to find any freehold or 999 years flat at this price? 2) On the other hand, if we buy a 15-year old or more flat with a 99-year lease,does it mean there is only 84 years or less left on it, and where would that leave us if we want to resell in another 10 years? Would the sale still enable us to refund the rest of the loan, or would the flat have depreciated too much because of the few remaining years? Thanks for your comments.
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