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As with the current scheme, the enhanced grant is given to Singapore Citizen only (not Singapore Permanent Residence spouse or an undischarged bankrupt), and can only be used as capital payment for the flat purchase. The balance, if any, must be used to reduce the mortgage loan before a housing loan from HDB can be granted.
(a) a lease extended by the operation of Section 6 of the New Territories Leases (Extension) Ordinance, Cap. 150; and (b) a lease under which there is an express obligation to pay an annual rent of an amount equal to 3% of the rateable value from time to time of the land leased.
WAULT, short for weighted average unexpired lease term, is a measurement used in commercial real estate to quickly judge the value of contracted rents in a property, or more commonly, a portfolio of properties.
The US Consulate had an option to buy the plot as a freehold in its 1950 lease, but this was eliminated in 1999 in exchange for the 999-year lease. [ 2 ] The only current freehold in all of Hong Kong belongs to St John's Cathedral , which was granted freehold in 1847 with perpetual ownership under the condition that the land be used as a church ...
In 2009, the HDB introduced the Lease Buyback Scheme, under which the HDB buys a proportion of the housing unit's lease at current resale prices. Additional schemes, such as the Silver Housing Bonus, under which the homeowner moves to a smaller flat, and the two-room Flexi scheme consisting of smaller flats with shorter leases, were introduced ...
Not all council property could be transferred, as in some local authorities, their housing stock was in poor condition and had a capital value less than the remaining debts from construction costs—in effect, the council stock was in negative equity. [128] In some local authority areas, the tenants rejected the transfer option. [129]
A 99-year lease is, under historic English law, since widely received abroad, the longest permissible term of a lease of real property. It is no longer the law in most common law jurisdictions today, yet 99-year leases continue to be common as a matter of business practice and conventional wisdom .
The HDB Hub at Toa Payoh, headquarters of the Housing & Development Board of Singapore. HDB flats in Jurong West. The Housing & Development Board (HDB; often referred to as the Housing Board), is a statutory board under the Ministry of National Development responsible for the public housing in Singapore.
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