National Development Minister Desmond Lee emphasized that residents will not have to top up money if they choose to take up the 50-year lease.
However, it is evident that he does not understand the residents’ concerns. These residents never asked for new flats – their flats are only 43 years old. Most of the elderly have also gotten used to living there.
Moreover, what he forgot to think about the time and money residents have to put in for a new flat. This includes renovation and moving fees which can come up to quite a hefty sum.
https://shrtcô.de/gdotn6
“To some of them, a brand new 99-year term may be less important than a similar-sized flat in a familiar locality… a 50-year lease would be more affordable and with a lease term around the same as the balance lease of their current flat”
Desmond Lee
However, it is evident that he does not understand the residents’ concerns. These residents never asked for new flats – their flats are only 43 years old. Most of the elderly have also gotten used to living there.
Moreover, what he forgot to think about the time and money residents have to put in for a new flat. This includes renovation and moving fees which can come up to quite a hefty sum.
https://shrtcô.de/gdotn6