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28-08-2018, 12:51 PM
(23-08-2018, 10:27 PM)yeokiwi Wrote:(23-08-2018, 11:01 AM)miningminds Wrote: Even if the economy grows at just 2% every years, I think EC after becoming private condo will probably still able to get enbloc way before the 70 -year mark. The compensation for VERS probably would be just peg to or at most the cheapest replacement cost.
The point here is that with more ECs that are rolled out, the gov is essentially transferring more burdens out from the state to private owners. As to whether the EC can get enbloc a not, it does not affect the gov annual revenue nor reserves.
Burden i think is a heavy word because as I know EC owners make money after 10 years. If they make money that's mean gov loses isn't it ? That's tax payer money.