Once your flat is offered VERS, means its resale value is effectively $0 liao right?
https://forums.hardwarezone.com.sg/threads/once-your-flat-is-offered-vers-means-its-resale-value-is-effectively-0-liao-right.7150115/
actually i feel this is why they decide to release this news now but will still make it very vague and release only good news until past 2030 elections
hope resale market crashes
Fear might be a good way to control resale price, but if bubble really crash, people who are on loan all will @/$(844!:92 the govt still
Quote from: Risa on Aug 12, 2025, 06:43 AMhope resale market crashes
actually if crash overall is better for future gen. it will definitely go down
but they need to please those who just bought and lao people
it's a hot potato
my guess is the terms will not be as favourable (obviously)
and need to top up a lot more money
and there will be leased based.
Suppose you are 75 yo now. govt ask u to SERS then u will get it for free... and i heard got give u like 40k or dunno what
if VERS, they will check your whole family to see if rly got money (you know most of their kids blah blah and even themselves got money also wont want to take out)
if you really die die say no, they will probably give u terms like leased based. if you really no money they will let u stay there until u die
so if u live until 120 yrs old means you tan tio
but later what if you live until say 80, or 85? you will feel short changed... so your house instead will be leased based. meaning since u cant fork out additional say 200k or more to "top up" to 99 years lease, your lease will be 30 years or 50 years
so your kid will "inherit" the lease of the existing flat. let's put it at 50 years. if your kid wish to top up to 99 years (or same number of lease left by then after u uplorry), they will have to pay at the paid up price + maybe additional based on prevailing market transactions
i spoke abt this topic many times at hwz and over here liao. i dont think there is another way out