HDB lessees are owners of their flats, not renters: PM Lee
He says home ownership has improved lives significantly for all, keeping at bay the extremes of privation seen elsewhere
Singapore
On the issue of 99-year Housing Board (HDB) leases, Mr Lee refuted the notion that the lease is "merely an extended rental" and not a sale.
He said he found the argument by some commentators "frankly amazing", as many private properties are also held on 99-year leases but no one argues they are merely being rented.
"HDB lessees have all the rights over their flats that owners of such leasehold private properties have. You can live in it, you can transact it, you can bequeath it to your children - it is yours," said Mr Lee, at a book launch held at the National University of Singapore.
In fact, HDB owners enjoy extra priv…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US inflation increases moderately in February; consumer spending surges
Fed’s balancing act could see June rate cut in play even with sticky inflation
China’s red carpet draws CEOs but few expect their money to follow
Australia wants businesses to diversify after China scraps wine tariffs
Japan FX chief calls yen’s slump unusual, vows to act if needed
Trump’s meme stock is skyrocketing but for how long?