Recently, a particular news shocked many people in Singapore. For the first time, the government has confirmed to take back 191 plots of land in Geylang Lorong 3 when their 60-year lease expires in 2020. For a long while, many people do not believe their housing price will go to zero when the lease expires. This is a confirmation of what is to happen in decades to come for the other housing estates which will have their leases expire in the future.
SLA has said no compensation will be given and no extensions are allowed. Unlike land acquisition by the Government, where compensation is given for the remaining lease, Geylang Lorong 3 residents will not get any since the lease will have run out in 2020, said the Law Ministry’s deputy secretary Han Kok Juan.
Your House Is Not Your Asset In Singapore
This is quite scary for many Singaporeans who …