HDB lease top-up proposal has drawbacks: Observers

An automatic lease extension was one of several policies introduced in what is termed a "citizen's non-partisan policy proposal" to address and offer solutions to key public housing issues.
An automatic lease extension was one of several policies introduced in what is termed a "citizen's non-partisan policy proposal" to address and offer solutions to key public housing issues.ST PHOTO: LIM YAOHUI

One-time extension for ageing flats may be hard to stop, they say of idea put up at forum

A policy proposal for a one-time automatic lease top-up for ageing Housing Board flats may immediately tackle the issue of declining value once the leases of these flats are up, but it comes with long-term drawbacks, observers said.

Topping the leases of all HDB flats owned by Singapore citizens back up to 99 years once they are 50 years old would be "a handout that is extremely hard to stop", cautioned ERA Realty head of research and consultancy Nicholas Mak.

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A version of this article appeared in the print edition of The Straits Times on December 17, 2019, with the headline 'HDB lease top-up proposal has drawbacks: Observers'. Print Edition | Subscribe