SINGAPORE (Jan 14): The last thing anyone wants to hear is that his home, for which he paid about half a million dollars not too long ago, will eventually be worth little to nothing. That was the collective shock of more than 80% of the Singapore population in March 2017, when National Development Minister Lawrence Wong cautioned that not all HDB flats would be eligible for redevelopment when their 99-year leases expire. Those flats would essentially be repossessed by the state and have zero residual value. That happened about three months later, when residents of terrace houses on Geylang Lorong 3 were told they had to move out — without compensation — by December 2020, when their 60-year leases ended.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.


  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply