What is the year built for a 99-year leasehold property

In the context of Singapore's public housing, the concept of a 99-year lease is significant, particularly for HDB (Housing and Development Board) flats and some private condominiums.

HDB Flats

• Most HDB flats are built on 99-year leasehold land. This means that the lease starts from the date the flat was purchased, and it will expire after 99 years. For example, the first HDB flats built in the 1960s, such as those in Queenstown and MacPherson, are now over 60 years old and have about 39 years left on their leases.

Impact of Lease Duration

• The age of an HDB flat, and consequently its remaining lease, can significantly impact its resale price. Generally, flats with longer remaining leases are more valuable than those with shorter leases. This is why the age of a flat often plays a larger role in determining its resale price than its location.

Historical Context

• The first HDB flats, completed in 1960 and 1961, were primarily rental flats and were not sold to the public. These early flats, such as those in Queenstown and MacPherson, are still standing today but are nearing the end of their 99-year leases.

In summary, the 99-year lease is a critical factor in the value and longevity of HDB flats in Singapore, with the age of the flat being a significant determinant of its resale price.