Don't be so stupid lah!
So you are telling that us that because older properties >20 years expensive to maintain and enbloc is the cheaper solution?
What a joke! Are you telling us that the developers are doing charity to you 99-years leasehold property owners so that you can buy another new property of the same size at the same price in the same vicinity nearby?
Why don't you tell everybody that when your 99-years leasehold properties go enbloc, you can't even afford to buy back another property of the same size in the same vicinity at the same price because you need to top up your lease if you want to buy a new 99-years leasehold properties?
Very simple, developers pay you a price, then top up the land lease, add on construction costs, add on their profits, the new properties they going to sell will be very much higher than what they pay you! Enbloc only benefits the investors, not resident owners! No wonder OCR private condos prices are going up like no tomorrow!
Strange that gov keep warning us about "property bubble" but they never really acted on the REAL "OCR private property price bubble"!
Just go look at the prices of new 99-years LH condo prices in OCR, example D19 and you will see that their prices are at THOUSANDS YEARS Historical PEAK!
A big crash of OCR private property prices in coming recession is just a matter of time!
The gov's warnings is valid, but just that they have not been particularly frank to tell you that the "property price bubble" is only in OCR private properties and strangely so far they have been unwilling to act on the "property price bubble" in OCR that they have been warning about!