Asked by Eye on Singapore
As an offshore investor, I find it myopic that some home sales professionals give little regard to tenure i.e 99 years, 999 leasehold or freehold. The value of a 999 property is 10 times more than a 99 year property because it can be used 10 times more. Another way around is that a 99 year property should be 10 times cheaper than a 999 year property. There are developers who buy long tenure property and then carve it up as 99 years or shorter. So for a tiny country like Singapore, long tenure property should be treasured since it can last not just one generation but several. So, then why are the prices in the same area for different tenure not significantly different ?
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