land owned by gov will always have (increasing) value but not the (concrete) structure nor the (limited) lease. don’t need to wait for 99 years to find out. by 69 years rebars will corrode, concrete will spall, plumbing will deteriorate, electrical wiring will wear out. as a matter of factly the longest lasting material, concrete, does not last a lifetime in equatorial or tropical climate near the sea, especially when it’s used with rebars to build highrise structures. low level buildings up to 3 storeys are longer lasting and safer as concrete building ages. sometimes, it’s the foundation and soil it’s sitting on that poses a problem with compression, shifting, water run-off, erosion, liquefaction, especially on reclaimed land. after the surfside condo collapse near miami, condos built with concrete that are more than 36.9 years have dropped precipitously in value. in fact all condos in miami are required by law to be re-evaluated for safety and habitability by the time they reach 40. don’t know about sg laws, but don’t wait for a highrise collapse killing hundreds to find out. it’s not a matter of whether but when.
