- Joined
- Nov 24, 2008
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- 23,315
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- 113
I have been saying this for a long time. The HDB does not intend to honour the 99 year lease for the simple reason their flats will not last 99 years. In other countries like HKG, the lease is 60 years or roughly one lifetime. U stay in that flat after you buy it at 25 years old and it last you till you die. So why do they sell it with 99 years lease? Imagine this. Lets say you pay $400K for your flat with 99 years lease. If the lease was reduced to 60 years, can they still sell the flat for $400K. Obviously no. If you pro rate it out, the same flat with a 60 year lease is worth $240K. Which do you think the PAP prefer to earn?