Talk about HDB or any 99 year lease condo…
And there’s many people up in arms.
It’s a lease. Everyone knows that.
Yet people don’t want to recognize it as a 99 year rental agreement.
People tell themselves many stories, fluff up their own thoughts. Ownself bluff ownself.
A lease is a lease. End of story. You don’t own the place.
End of the lease, the property goes back to the OWNER… The REAL person who owns the place.
It’s been really good marketing.
Selling Singaporeans the idea that they own their property. Regardless whether it’s HDB or Condo.
Of course this idea goes back to when the Government marketed HDBs as growth assets.
And it’s true. HDBs are growth assets for a period of time.
People buy the prepaid rent.
Then they live in it for 5 years. Due to inflation, market rent is much higher than the prepaid rent offered by HDB or the condo developer, so people are now able to sell their unused rent at market rates.