“When the PM-apparent tries to be clever with words, you all know we are in deep trouble.”
Finance Minister Heng Swee Keat said yesterday that lease decay does not mean that Housing & Development Board flats will have zero dollar value when HDB dwellers turn 85.
Besides trying to allay concerns about lease decay of HDB flats, Heng also dismissed criticisms that HDB dwellers are merely tenants, not owners.Today online reported the Minister as saying: “This debate that is going on… , ‘No, this is a terrible hoax… This is macam rental’, I mean, come on, get real!”
Another FB user sarcastically agreed with Heng that there will be value in HDB flats which have 30 years of lease left, and said: “Of course! Any residual value is also considered value. $1 is also value.” One FB user, referring to the possibility that Heng is the Prime-Minister-designate of Singapore, suggested that his comments only shows that Singaporeans are in deep trouble.Most owners of older HDB flats have now come to accept that the value of their 99-year-leasehold property is not going to keep on increasing forever and ever – one major reason for this being the revised CPF rules.
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