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June 23, 2005
HDB owners being scammed???
Singapore Critic takes issue with the meaning of ownership as defined by HDB and compares it to renting a private apartment.
...an overwhelming 95.6 percent of households interviewed prefer to own rather than rent a flat. ".My question now would be:
- How many of these people actually think that they "own" their 99 year lease hold flat?
- How many of these people actually know that they are actually "renting" these HDB flats from the government, and not "buying" them?
- Or are these people voicing their unhappiness that these flats are "leasehold"?
[shianux: a leasehold is still considered a property right, and is considered 'ownership' as well, albeit a time-limited one. How many lay people understand the legal difference between freehold or leashold? And furthermore, there aren't many places left in the world where fee simple titles can be found. For all intents and purposes, a 99 year lease is more than enough.]
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