Forum: Don’t allow 99-year HDB lease issue to remain unresolved

I agree with sociologist Chua Beng Huat that the Government has an increasingly intricate and difficult task of balancing the perception of HDB flats as both public good and financial asset (

Future of HDB flats: A delicate balancing act, says sociologist Chua Beng Huat

, July 13).

This is especially when many Singaporeans’ savings have gone into their home purchase. 

A third of home owners have capitalised on profiting through a buy-sell-repurchase cycle. I believe the two-thirds who have not acted on this strategy intend to bequeath their home to their family members. 

Political leaders and Singaporeans must recognise and accept the fundamental principle of the 99-year lease for most HDB flats. The HDB will not be able to conduct the Selective En bloc Redevelopment Scheme for every maturing flat in Singapore. It is both financially inconceivable and irresponsible. 

National Development Minister Desmond Lee has reiterated in Parliament that HDB flats of 99-year leasehold strike a good balance between providing a home for life, asset appreciation, rejuvenating our city and building homes for the new generation.  

Though the government of the day has reaped political returns, legitimacy and gratitude from past Singaporeans who have gained much from owning an HDB flat, we should not allow the 99-year lease issue to remain unresolved.

Foo Sing Kheng