Prices in the Singapore property market has been on the decline lately, but this seems to likely only be a blip following large increases in the last few years. Rising home prices are not an issue faced in Singapore alone, with Hong Kong, Canada and Australia facing the same issue.
How do policymakers respond to rising home prices that may put houses out of reach of most of the populace? One way is to tamp down on price increases by instituting measures meant to reduce demand and speculation, and at the same time increase the amount of land.
Another avenue to explore, at least in Singapore’s case, is to reduce the tenure of properties being sold. This notion is not new. China sells residential properties on a lease term of 50 years.
This post will show a few things
The price gap between freehold and 99 year lease properties …