My concern is that while in theory this process seems fine, I wonder how it'll work in practice when long term leases actually end. For what it's worth, this is pretty much how public housing in India works as well, but we have yet to find out what happens when the leases actually come due. In India we can largely avoid the problem by throwing more and more "undeveloped" land towards housing. If anything, the government has a rather encouraging attitude to convert leasehold properties to freehold, at least for private residences built under the leasehold schemes.

> this has happened before many times too.

I assume this is developers selling before the 99 year lease is up, since the legal entity of Singapore and this leasing arrangement haven't been around long enough to see what happens when the lease is up.

If presumably 80% of the housing stock in SG is held in such an arrangement, what happens if a major chunk of leases come due in close succession of each other, eg, 10%? 10% of the population would be expected to move to housing stock which doesn't exist yet.