Retirement village or yet another investment opportunity?

[Bukitimah]

The funny thing is that this development has nothing special other than shorter lease and smaller unit. $ per sq ft is not cheaper but due to the above 2 points, overall cost lower.

So, the 'investors' are looking at lower capital investment opportunity. Government would need to decide if this is the direction they wish to purse. We may end up with shoe box units again

 

[Kit]

Quite frankly, I don't see the fuss about shoe box units. They are great alternatives for singles or young couples who doesn't need too much space and cannot afford more expensive, bigger units. $350k for young working couples is manageable, relatively speaking. We are moving into a time in which excess is a luxury.

 

[UncleFai]

Quite frankly, I don't see the fuss about shoe box units. They are great alternatives for singles or young couples who doesn't need too much space and cannot afford more expensive, bigger units. $350k for young working couples is manageable, relatively speaking. We are moving into a time in which excess is a luxury.

Because people are "frying" them as they have lower barrier of market entry but this will further pump the overall bubble. If they decree that "buy Mickey Mouse house, must stay in it, cannot rent or flip it quickly" then different matter.

 

[pchengws]

It is good idea either children look after parents and let parents help them to look after grandchildren, or parents run far far away in this retirement village and live peacefully. So young generation should not be allowed to live there. it should not be a cheap housing for them. It is for old forks sell their flats and live there for the rest of their life.

 

[ricohflex]

A new twist to the shoebox unit evil. Instead of reducing the square metres of the unit, they reduce the length of the lease to 60 years.

Harder for authorities to clamp down on this new trick by private developers because the old age studio apartments are sold on 30 year leases.

 

[ManWearPants]

The funny thing is that this development has nothing special other than shorter lease and smaller unit. $ per sq ft is not cheaper but due to the above 2 points, overall cost lower.

So, the 'investors' are looking at lower capital investment opportunity. Government would need to decide if this is the direction they wish to purse. We may end up with shoe box units again

Yup. Same same but different. Just a creative way to package the project. Given the good location, they could have packaged as 99 years lease and higher psf prices, I am sure it would still have sold well. I wonder what is the impetus to start 60 years lease.

 

[Kit]

If its designed for seniors, first thing I would expect is for the development to comply with EASE but its not mentioned in their website.

 

[ricohflex]

If its designed for seniors, first thing I would expect is for the development to comply with EASE but its not mentioned in their website.

Pros:
They do highlight the corridors are wider presumably for wheel chairs and emergency wheeled stretchers to send very ill or dead resident to ambulance.
They mentioned the toilets have emergency call buttons.
They emphasise each block has two lifts.

Cons:
Take note of the big swimming pool, gym and other facilities.
The 2 lifts per block.
The relatively low number of residential units to spread the cost.

Know what this means?
This means heated quarrels at EOGMs when the "resort" residents have to pay for the high cost of maintaining/repairing/replacing these things.
Don't forget the roofs and the re-roofing that needs to be paid for.