Homes in Singapore along with different lease periods:

30-year lease (HDB studio apartments)

60-year lease (private housings)

99-year lease (executive condominiums, private housings, all HDB flats except for studio apartments)

103-year lease (private housings) (Theses houses sit on freehold land owned by private developers.)

999-year lease (private housings)

Freehold (private housings)

*A land at Jalan Jurong Kechil is only 60-year-lease plot to be sold (on 15 November 2012) for residential development; thus 60-year-lease homes possibly be available soon.

Most housings in Singapore either crowd freehold or 99-year lease, with messy making along the bulk.

A 999-year lease is nearly equivalent to freehold.

While 30-year-lease HDB studio apartments come into play short supply and just meant for elderly owners.

Private developments with a 103-year lease period (the lease period is contingent on the developer) on freehold land are few and much between. At the expiry for this lease, the non-governmental land owner gets the right to re-acquire turned (i.e. reversionary right), sell the freehold tenure or extend the lease for their price.

Residential properties with 60-year lease are not available yet, but always be in several years’ time when development on the main 60-year leasehold residential land plot at Jalan Jurong Kechil is completed.

Homes in Singapore are predominantly 99-year leasehold for the reason that government sells most arrives at 99-year tenure due to land scarcity in this country. At the end of the lease period, the state can buy the land with compensation on the home buyers. Currently, the government does not offer freehold land parcels for sales anymore, besides the sale of remnant State land to the adjoining landowner whose existing private land is already held using a freehold title.

However, topping up within the lease of leasehold private housings is allowed.

Lessees may apply for renewal from the lease the actual SLA (Singapore Land Authority). The granting of extension is on the case-by-case basis and are considered if for example the development is in line with Government’s planning intentions, maintained relevant agencies, and usually means that land use intensification, mitigation of property decay and preservation of community. If the extension is approved, a land premium, decided your Chief Valuer, will pay. The new lease will not exceed the original, and it will work as shorter belonging to the original or the lease consistent with URA’s planning intention.

In addition, near the finish of the lease period the State may have to have the land to be returned in its original types of conditions. If so, demolition of buildings, land fillings, in addition to. will have to be borne with current lessees.

For HDB flats, legally the flat will be returned to HDB affinity at serangoon condo the end from the lease. HDB does don’t have to make any monetary compensation, or offer a fresh one flat to the owners. Owners may be also required get rid of any fixtures fitting.