Minister Khaw Boon Wan Says 99-Year Lease HDB Flats Are Still Assets Those who purchase a 50-year-old HDB flat today can still expect the value to increase in the next decade, declared Minister Khaw Boon Wan during a dialogue session with youths from Sembawang GRC. Mr Khaw made the comment while attempting to debunk claims that HDB flats are not assets due to their 99-year lease on Sunday (2 Sep). He went further by claiming that appreciation potential exists even for a 70-year-old flat, as a result of programmes introduced by the government. 99-year lease = not assets? This housing debate was reignited after Prime Minister (PM) Lee Hsien Loong’s National Day Rally comments, where he stood by the 99-year lease policy. He explained during the rally that the policy strikes a balance between practicality for current residents and fairness for future generations. Several HDB-related programmes were also announced during the rally, such as HIP (Home Improvement Programme) II and VERS (Voluntary Early Redevelopment Scheme). Slower appreciation rates Mr Khaw also addressed several housing concerns during the dialogue. Among those were the issue of a slower rate of appreciation, as compared to the past. He explained that housing prices are closely […]
6 years ago
