23 Jan '11, 11pm

TODAYonline | Voices | Leave it to free enterprise as well as

I REFER to the letter by Jacinta Lee "Tax en bloc speculators too" (Jan 21). I can empathise with her feelings on the "family of speculators" that bought seven units in her condominium. However, there is no such thing as guaranteed success for any en bloc attempt. There are enough safe-guards and measures that the Government has implemented to ensure fairness, due diligence and transparency in the whole process. On top of that it is difficult to prove that the family bought the units solely for en bloc purposes. Investing in a potential en bloc development is still a risky decision. Achieving the mandatory 80 per cent agreement for a collective sale is no easy task. Like any form of investment, en bloc speculators have been burnt. I owned a unit in a development that I did not want to sell, but more than 80 per cent of the residents wished to put up for collective sale. I ...

Full article: http://www.todayonline.com/Voices/EDC110124-0000082/Leave...

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