All residential properties will be 99 years: Someone commented that the most effective measure to bring down...

Someone commented that the most effective measure to bring down property prices will be to convert all residential properties to 99 year lease. No more freehold, no more 999 years leases. Such a scenario or idea will send shivers down the spines to the landlords, the rich and powerful that have hoarded multiple freehold properties to last till perpetuity. Their ambition was to protect their wealth, to continue to be theirs longer than the life of dynasties that do not last a couple of centuries. The ground rule has been designed by the rich and powerful to ensure that their family fortunes will last forever, or at least 999 years. That is normal as anyone in a position of power will only think of their own interests first. In many third world countries, the assumption to political power is like owning the right to be rich, to build their family fortunes. Converting all res...

Full article: http://mysingaporenews.blogspot.com/2012/10/all-residenti...

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