Innovative real estate legislation to husband Singapore’s scarce natural resource
||Innovative real estate legislation to husband Singapore’s scarce natural resource
||8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
||Government intervention has however, succeeded to a large extent in managing this seemingly intractable problem by putting into place an array of legislative measures. These are underpinned by a system of land administration and policy based on the English doctrine of tenures and estates in land which Singapore inherited as a result of colonisation in the early 19th century. The range of measures includes the leasehold being the dominant method of landholding, wide powers of compulsory land acquisition, the implementation of a public housing system for more than 87% of the nation’s population, the restriction on foreign ownership of residential property and planning and conservation legislation. In addition, there has recently been passed, highly controversial legislation affecting strata-title property ownership in Singapore which may call for a re-definition of the term `freehold’ tenure. This paper examines how the Government has grappled with this problem of land scarcity; in particular, it considers how innovative legislation, which has the underlying objective of allocating judiciously this scarce resource has been devised to regulate the real estate sector and optimise land use in Singapore.
Post discussion ...
||Real Estate Regulation
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