Tay points out that the bulk of HDB flats were built during or before the 1990s, which means they are three decades old and therefore approaching the halfway mark of the 99-year tenure. Recently, the government has made it clear that there is no guaranteed extension when this time frame is reached eventually.
SINGAPORE (Jan 14): Singapore needs to clarify details of how HDB owners can retain the value of their properties under a proposed government scheme. If not, general elections, which has been rumoured to be called this year, has “no way” of happening.
“If they don’t clarify these issues, they can’t call for an election this year,” says Kelvin Tay, regional chief investment officer of UBS Global Wealth Management, at the Swiss bank’s Wealth Insights Forum this morning.
