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#1
17-06-2014, 12:50 AM
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Condo sold as 99 or 105 Yrs on freehold
An honorable member of the Coffee Shop Has Just Posted the Following:
Coffeeshop Chit Chat - Condo sold as 99 or 105 Yrs on freehold (193 views) From:papadom1Jun-14 7:15 AMTo:All (1 of 12) 77891.1 straits times money page C 1 headlines Homes sold as leasehold tenure on freehold sites! This us precisely How the system allows " empire building" where the Rich gets richer and the poor get poorer and the gap between the rich and poor grows wider!! Only in the recent decades developers gave become very greedy. For greed is good as quote by one of them before! And our authorities obviously encourage greed too! And so developers can now buy freehold enblocked properties or other free hold properties to re- develop and then sell the new developments as 105 years leasehold or 99 years leasehold even though the site is a freehold site! So developers are able to built " lasting empires" for generations to come in their companies as long as they hold control of their shares. After the leasehold expires - the whole development goes back to the developer!!! If an individual owing freehold properties- can you sell it for 60 year lease aftershock the property reverts back to your grandson? no you cannot! But as a big time developer you can do that! surely the authorities surely cannot be surprise why the Lingkang between the rich and the poor continues to widen! No estate duties! Buy freehold redevelop , sell as leasehold !
Click here to view the whole thread at www.sammyboy.com. 
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