How to figure out if an old HDB flat is worth its asking price? Besides looking at the psf, look at also the psf on a per annum of the balance lease. Here is an example:
a Bukit Timah flat of 1,345 sq ft that sold for $950,000, reported in The Straits Times recently. That is $706 psf.
That flat was built in 1974 on a 99-year lease. It thus has 56
years of lease remaining. The price psf on a per annum of
balance lease basis is $12.60.
Is that a good price?
Check out the full report The Straits Times