Sunday, June 08, 2014

Family loses flat over technicality

Singapore can be a terribly unfair country. I feel dreadfully sorry for the woman. Probably it would have helped if she had divorced her husband.

I think the real problem is that many rich Singaporeans own multiple properties. Apparently the former Minister of Housing owns 40 properties... I'm not sure how he's going to vote if a case was made to have a capital gains tax on property.

There should be a limit to the amount of properties you can buy. Singapore has a limited amount of land. If it was up to me, I'd limit Singaporeans to one owner(s), one property each. If the owner has another property - a one year grace period should be extended to allow the person to sell the 2nd property. Otherwise you're going to have a situation where the rich just game the system.

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