HDB will be $0 when the 99 year lease ends

Mr Lawrence Wong caused a stir when he said the HDB apartments will be $0 when the 99 year lease expires. Minister for National Development (MND) Lawrence Wong confirms that the Singapore government will confiscate all HDB apartments once the HDB 99-year lease is finished. The Minister wrote on the MND blog:

He also pointed out that when the leases for HDB flats run out, they have to be returned to the state eventually and that as flats near the end of their lease periods, their prices come down correspondingly.


News source: Channelnewsasia, TheStraitsTimes

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