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- Nov 24, 2008
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there are a million hdb flats.
average stamp duty say 2k.
they inherit a billion easily. How many meals a day does one need?
anyway they cant easily buy neighbouring plots through proxy etc easily. Neighbours not stupid.
Not immediately and not all at one time. My bet is that they have already been buying up properties for the last few years after it appeared Old fart was on his last legs. And now, they will continue to do so. Normal turnover in any of these neighbouring buildings could be around 10% a year. If they ended up with more then 50% of this 10%, they will control the strata in 5 years or so. Some buildings like Valley Mansions down the road are already 45 years old and freehold. Many people who bought there originally are close to nursing home age now. They will be looking to sell for sure. They would think nothing strange if someone offered them their full asking price.