Re: One moment the property market was "stirred" up, the next....

Frankly, I am just curious where all these profits goes when the gov or hdb
sold a flat, who or which department pockets all these money.

"AleXX" <macrodeal@xxxxxxxxxxxxx> wrote in message
news:fv3n62$6qg$1@xxxxxxxxxxxxxxxxxxxxxxxxxxxx
One moment the govt. stirred up an artificial demand and brought the
prices rocket high leaving a false image for those local buyers who are
genuinely looking for a home to settle for some. After a year or so, they
could no longer hold and the bubble burst and these new poor "owners" have
to scout around for additional funds to meet their bank's demand to top up
their loan collateral. In the end, mainly the land owner (government) who
leased out the land for 99 years collected most of the money.

http://business.asiaone.com/Business/My%2BMoney/Property/Story/A1Story20080426-61963.html



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