Agreed this is possibly the existential crisis of our generation in Singapore. It will take center stage. Short of offering freehold, Singapore could consider the route that the UK took which allows the current lease holder the right of first refusal to extend leases but it needs the Government to resolve its thinking on HDBs. Now that the country has become the wealthiest in the world there’s not really any further property value can go. Ownership has to start becoming a factor.
Long read, while try to understand. But the fact remains people who can afford will pay more for a more centrally located and/or bigger HDB flat that could be way above the computed values by remaining tenure.
So the ones at the perceived shorter end of the stick are likely the resale buyers.
Given the same monetary outlay - say a bigger, centrally located 4 or 5 room older HDB flat vs a brand new but smaller and less well located private 99 LH condo, which one would one possibly put the money into?
This VERS proposal will not be so straight forward.
they could have done a better job in reminding people that the lease is 99 yrs and will go to 0 towards it. Now many are affected, esp those older units owners . Hope the solution they proposed can genuinely resolve this issue
Agreed this is possibly the existential crisis of our generation in Singapore. It will take center stage. Short of offering freehold, Singapore could consider the route that the UK took which allows the current lease holder the right of first refusal to extend leases but it needs the Government to resolve its thinking on HDBs. Now that the country has become the wealthiest in the world there’s not really any further property value can go. Ownership has to start becoming a factor.
Long read, while try to understand. But the fact remains people who can afford will pay more for a more centrally located and/or bigger HDB flat that could be way above the computed values by remaining tenure.
So the ones at the perceived shorter end of the stick are likely the resale buyers.
Given the same monetary outlay - say a bigger, centrally located 4 or 5 room older HDB flat vs a brand new but smaller and less well located private 99 LH condo, which one would one possibly put the money into?
This VERS proposal will not be so straight forward.
they could have done a better job in reminding people that the lease is 99 yrs and will go to 0 towards it. Now many are affected, esp those older units owners . Hope the solution they proposed can genuinely resolve this issue