There's actually very serious ramifications to the oppression, which I'm surprised money-faced people like people here hadn't realised. The big problem with this oppression is that you'll never accrue wealth long term. You'll accrue it short term, but every 2 generations, a reset button is pressed and your descendants lose the equity and start over. Let's use an old enough civilization as an example, eg Europe. Pierre in France owns a house, passes it to his son, who keeps the equity (the equity doesn't fade), his son bought his own house, has a mortgage of his own but inherits Pierre's house, son passes two houses to the grandson (his own and Pierre's) and then the next generation passes three houses, and on and on and on for the next 500 years. This is how the Europeans accrued wealth and got so rich. For people in Asian despotic regimes, Ah Meng passes his mass market 99 year condo to his son, value drop by half by this time. Goes down to nothing and land returns to despot ruling party after his son turns 50. So essentially the wealth and hard earned money Ah Meng built goes down to nothing every 99 years. If you analyze this, you'd learn that it's actually to create a bubble in the economy and for the gov to be the perpetual profiteer. Instead of assets in the hands of the people for them to own and bequeath, the assets ultimately belong to the state. What is this? Oh it's communism.
The gov gets to retain overall rights and resell the land at inflated price after 99 years, but the inflation over the 99 years had nothing to do with the gov, it was the toiling of two generations of Ah Meng's family. Lol.
Second, this ensures there's bubble to keep the economy look like it has value that isn't there. People, to override this, sell their 99 year condos and
HDB in a panic after 10 years, to buy a fresh lease, so this keeps the economy buzzing with fake turnover, fake price increases based on face transactions, fair everything. Same as the
COE scheme. This country was built on much of what's fake u bet if you had the same system without the fake schemes your real GDP is only half of 200billion.
One Singaporean in order to defend
PAP said on Facebook but can ah which buildings last 100 years, you people are crazy, well obviously this frog in the well has never been to Europe where the buildings in downtown are 400 years old!! They renovate the inside which looks as modern as any other building, and keeps the classic historical exterior. That's why people flock to beautiful Europe for vacation. There are castles standing in Europe that are over 400 years old (yes they belong to somebody)!!