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$0 value flats sold at hundreds of thousands.

Yup it is reality now. There goes the dream of your retirement fund being funded by a flat that you paid using your life's saving. Imagine paying $400k to $500k for a flat that is confirmed to be be worthless after 99 years (if you get it first hand from the government).

Where property used to be a asset, it seems that it is a liability now.

This is Singapore for you.

 

SINGAPORE – In three years' time, the apartment in People's Park Complex that Mr Goh Boon Teck and his wife and son have been living in since 1980 would be at the mid-point of its 99-year lease. Although he intends to sell the unit, the 68-year-old shop owner… Credits: Options limited as 99-year leases shorten, but homeowners not in rush to sell