[Sg] - PAP Desmond Lee: Capping HDB ownership to 99 years is for Singaporeans' own good

[True Believer]

The bigger joke is that HDB factor their prices of flats on built and land costs but “owners” donch even have a strata title to the share of that land the block sits on…liddat 99 years or 9,999 years also no difference

Unlike owners of leasehold condos, HDB dwellers are not permitted to use even their fully paid-up flats as collateral to banks, to raise credit facilities for private loans. HDB also refers to flat owners as tenants, and those who rent from the owners as sub-tenants.

 

[True Believer]

there are some options after the 99-year lease runs out on the early batch of hdb flats. if structural conditions are good and can last another 50 years, hdb can kick out lessees and reuse these flats for 20 to 50-year rentals to sinkies and pr’s. or they can repurpose these flats as dormitories for foreign workers on work permits. or they can offer 1 to 5-year short term rentals to foreigners on 2-year work visas. lastly for more value they can tear down and either auction off 99-year parcels to private developers or redevelop them for new bto and ec flats. whichever option, heads they win tails you lose.

 

[ftan42]

If 99-lease hold is good then 129-lease hold will be better, 999-lease-hold will be even the best

 

[True Believer]

If 99-lease hold is good then 129-lease hold will be even better

In my opinion, 69 is best, but I am not referring to leaseholds on public housing.

 

[myfoot123]

GST should be capped at 9% then.