Re: No logical reason why prices of 99-year leasehold properties will continue to go
Congratulations, to everyone who have a soon to be million dollar flat. Sitting on those paper profits is pretty darn useless. So what next, sell and live in ECP? Or buy out and live the rest of your natural life in a country you will never be able to identify with. Singapore is for the rich. The poor, well, it's just too bad, the government doesn't give a shit. After all, after you sell your flat, the government wil be glad to have a young family of naturalised citizens who will contribute their golden years to Singapore Inc.
HDB is in fact public housing, they should keep it affordable for the people. Let the rich and FTs go for private housing. They can create bubbles and crashes for all we care.
Lets face it, the reason why even BTO prices are ridiculous is because the government is profiteering from HDB under the guise of paying market value for land. Come on la, they dig up cemeteries, im sure they must be burning a ton of hell money to afford such prime land, thats why it costs so much. Then KBW tells us is because they are reclaining land and it's very expensive. Oh wait, most of our reclaimed land is going towards industrial usage like oil refineries(Jurong Island) and the new port in Jurong, and the foreign MNCs are paying top dollar for them. Our HDBs are inland, so why are we subsidising such costs? Lastly, the government have been actively clearing up old flats to build more units, yet what they pay the previous tenants(99 years, so all tenants) for their units, even with subsidies, is clearly less than a replacement flat or similar size, in the same location, in spite of having less common space, smaller units and taller buildings. I don't know, but the way I look at it, Temasek Holdings must be making some serious losses, for them to intentionally clear out our CPF in such a manner.
