Condo sold as 99 or 105 Yrs on freehold

[makapaaa]

Coffeeshop Chit Chat - Condo sold as 99 or 105 Yrs on freehold (193 views)

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From: <nobr>papadom1</nobr> Jun-14 7:15 AM To: <nobr>All</nobr> (1 of 12) <tbody> </tbody> 77891.1 <tbody> </tbody>

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straits times money page C 1 headlines Homes sold as leasehold tenure on freehold sites!
This us precisely How the system allows " empire building" where the Rich gets richer and the poor get poorer and the gap between the rich and poor grows wider!!
Only in the recent decades developers gave become very greedy. For greed is good as quote by one of them before! And our authorities obviously encourage greed too! And so developers can now buy freehold enblocked properties or other free hold properties to re- develop and then sell the new developments as 105 years leasehold or 99 years leasehold even though the site is a freehold site!
So developers are able to built " lasting empires" for generations to come in their companies as long as they hold control of their shares. After the leasehold expires - the whole development goes back to the developer!!!
If an individual owing freehold properties- can you sell it for 60 year lease aftershock the property reverts back to your grandson? no you cannot! But as a big time developer you can do that!
surely the authorities surely cannot be surprise why the Lingkang between the rich and the poor continues to widen!
No estate duties!
Buy freehold redevelop , sell as leasehold !

• Edited June 14, 2014 10:38 am by papadom1

 

[kryonlight]

Land ownership is the difference between the really rich and the rich.

Get over it. You would do the same if you ever actually owned a piece of precious land. If not, you must be an idiot.

 

[palden]

Don't buy la. So simple. If willing to buy don't KPKB.