Re: Almost as expensive as private properties, LIEgime will take back all HDB flats after 99 years
- Fret not.......the "govt" will not always be the PAP Govt. When a new Govt, more democratic, fairer, more enlightened, equitable, takes over in the not too distant future (deft b4 the 99-years lease ends), the leaders can and will change this archaic rule of 99yr lease for all HDB apts and some pte condos....the times they are a-changing.Of course this assumes that MM LKY will not call in the army when the PAP loses a GE sometime in the near future. And again also assumes that LKY is still alive and kicking as a nonagenarian or even a centenarian.
From: Robert HO <robert.ic019@...>
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Sent: Friday, 7 May 2010 20:56:32
Subject: Almost as expensive as private properties, LIEgime will take back all HDB flats after 99 years
The long suspected truth is finally out: contrary to popular belief, Singaporeans do not “own” their HDB flats after all – there are merely renting them from the government for a period of 99 years.
In a reply to a Singaporean’s letter to Straits Times Forum last month to allay uncertainty over HDB leasehold, the Deputy Director (Policy and Property) of HDB Mrs Lily Chan admitted that HDB flats are 99-year leasehold properties:
“HDB flats are 99-year leasehold properties. Like all leasehold properties, the land will revert to the Government when the lease on the land expires. The overwhelming majority of HDB flats today are far from expiry of their leases,” she wrote.
This means that when one buys a HDB flat, he/she has the right to stay in it for a maximum period of 99 years after which the land on which the flat is built on will revert to the government when the lease expires.
In a strict sense, HDB flat owners do not “own” their flats forever – they cannot be passed down from one generation to another unlike freehold properties.
HDB’s reply will surely raise fresh doubts among Singaporeans if HDB flats are really value for money at today’s astronomical prices.
The prices of HDB flats have sky-rocketed in recent months due to the lack of new flats in the face of rising demand fueled by mass immigration.
Some flats in the prime/central districts are worth more than private apartments in the suburbs.
Despite concerns from Singaporeans that they are being priced out of the public housing market, HDB continues to insist that their flats are “affordable” to the masses.
National Development Minister Mah Bow Tan even went to the extent of chiding Singaporeans for being “fussy” and having “unrealistic” expectations.
RH: ME ON VIDEO DESCRIBING lky lhl wks NUMEROUS ELECTION RIGGINGS:
MY ACQUAINTANCE, MR DAVID DUCLOS, A FORMER POLICE INSPECTOR, AND HIS LAWYER FRIEND, EYEWITNESSED LEE KUAN YEW RIGGING THE 1997 CHENG SAN GRC ELECTION. READ MORE AT MY BLOG ENTITLED "I CAME, I SAW, I SOLVED IT" :
MY ONLINE POLICE REPORT ON LKY LHL WKS CHEATING ELECTIONS:
THE MOST COMPLETE RUBBISHING OF LEEconomics EVER:
[ALSO AT THE ABOVE BLOG, LIE KUAN YEW's LIES, CORRUPTION, WRONGFUL JAILING, TORTURE AND BEATING TO DEATH OF INNOCENT POLITICAL PRISONERS LIKE MR CHAN HOCK HUA]
READ ALSO MARTYN SEE's INTERVIEW WITH ME AT:
FOR QUICK, IRREVERENT REASONS WHY LIE KY DESERVES A NOBEL:
MY ARCHIVE OF WORKS AT:
PHOTOS OF LIE KY SCRATCHING MY WIFE's NEW CAR:
NOT GUILTY BUT TORTURED, DEGRADED 15 YEARS FOR PUBLICITY, FUN
WHY SINGAPORE HAS NO ECONOMY