‘Hong Kong protects minority rights while, in Singapore, money largely decides the fate of a collective sale.’
MR AUGUSTINE CHEAH: ‘As Ms Tan Hui Yee pointed out on Monday (’En bloc debate, HK style’), the key difference between Hong Kong and Singapore regarding collective property sales is that Hong Kong protects minority rights while, in Singapore, money largely decides the fate of a collective sale. One gets far more home ownership security in public housing than in expensive private housing. With more Singaporeans moving from public housing into condos, the deficiency in our collective sale laws must be addressed properly as it will affect a larger number of people in time to come. The authorities such as the Law Ministry and the Urban Redevelopment Authority have received many suggestions over the past two years, but official replies have been few. Certainly, we have not seen any changes. To proponents of the comparatively liberal collective sale laws who argue that these laws are no different from compulsory government acquisitions of the past, Ms Tan’s explanation nails the difference neatly: Private developers make a profit at the expense of someone’s home in collective sales, while government acquisition is a sacrifice made for the public good.’
Source : Straits Times – 15 Aug 2009
Lush Dream Home 