Thorny issues around parental help in buying homes
Although the numbers stack up to support the buying of a private home here for a minor, there can be harmful social consequences if such help becomes widespread
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RISING HDB resale prices and more million dollar resale HDB flats being transacted hogged the headlines in Singapore property in 2021.
Much buzz was generated in the luxury end of the home market too with the purchase of coveted homes in Good Class Bungalow (GCB) areas by technology titans and all the units at luxury condo development Eden at 2 Draycott Park by the Tsai family of Taiwan, who is behind snack food giant Want Want China Holdings.
Last month, I was intrigued by the news reported in The Business Times that crypto billionaire Zhu Su and his wife Tao Yaqiong Evelyn were granted an option to buy a bungalow in Yarwood Avenue, which is in a GCB area, for S$48.8 million as trustee for a nearly 3- year-old child. All 3 individuals are Singapore citizens.
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