News

I refer to the Forum letters “ ” (July 19) and “ ” (July 22). From time to time, concerns regarding the decaying lease of Housing Board flats surface in Singapore. There needs to be a fundamental understanding that when a property’s lease expires, regardless of whether it is an HDB flat or a private property, the land reverts to the state. This is simply a matter of a product specification which the buyer agrees to when buying a property, knowing that there is a tenure on it. Thus, there is nothing to resolve no matter how many Singaporeans have put their savings into their home purchase, as it was made out of one’s own free will. As a citizenry, we must ensure that the issue of the 99-year lease is not politicised by current and future political parties. Prospective buyers and owners should make sound decisions based on their age vis-a-vis the remaining lease on their property, and not expect any assistance when the value of their property drops with the decaying lease. Singaporeans can buy a freehold property or one with a 999-year tenure if a decaying lease is an issue they do not wish to handle.