Wealthy new citizens are buying up freehold land in S'pore

[True Believer]

Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) said: “Market processes are allocating an increasing share of national income to income from property and other financial assets and a reducing share to income from work. This is a development that we should be deeply concerned about. Wealth inequality, too, can undermine meritocracy, a social system where people gain success or are rewarded based on their abilities, hard work or talent. Because the accumulation of wealth can far exceed the differences in income from differences in abilities and performance, because of the way prices of financial assets and real estate moves, with little effort, one becomes extraordinarily rich. And so, wealth inequality creates a sense of unfairness.”

 

[Nanodick]

All the PAP elites need these buyers to buy their GCBs u know...otherwise who would buy?

 

[face the facts]

probably over the last 30 years lots of loopholes to buy freehold land in peesai, sinkees are fucked big time and the country had been sold out
some rich tiong or ah neh or angmo can always have a scam marriage with a local and buy freehold GCBs.....no?..........FUCK PAP

 

[jurongkechil]

Nope. Foreigner can only buy sentosa landed house le

 

[nabeifuckpap]

Money laundering hub approved by 65% retard sinkies

 

[True Believer]

All the PAP elites need these buyers to buy their GCBs u know...otherwise who would buy?

 

[True Believer]

Lee Hsien Loong says he wants money launderers to invest in S'pore so that locals are priced out of landed homes, condos, cars and just about everything worth owning here.

 

[iluvgst]

Government owns 90% of the land. The custodians are paying themselves millions out of the income from the land. Ravi included. That’s the inequality.