2) Private Ownership for 99 years!
There is a Distinct and VAST DIFFERENCE between the two!
1) Private property with certain number of years of “leasehold”, in which, you are the rightful OWNER of the LAND which your property sits on. If it is a condominium or private apartment, you will be allocated “Strata Titles” on the percentage and RIGHTS of your OWNERSHIP of the land and property in the whole estate.
This point is further expressed in the various "conditions" on your HDB flats imposed by HDB and the government. eg. Who can "buy" the "aggregate rent" of your flat to stay in that flat. If you "own" anything, you will have the right to decide on what you can do with what you "own". But for HDB flat, even though you have "paid" or "bought" the flat, there are a lot of restrictions put on you, technically by the LANDLORD, HDB aka government! In the past, you can’t even decide on what door or window grills you can put in your flat!
A) WHY is HDB selling flats that include "LAND PRICE" pegged to market rate when we do not own the land at all?
B) The HDB flat prices we pay are already inclusive of the construction cost of those amenities like carpark, landscaping, void deck, roads, etc on the land we do not own! Why do we still need to pay for the land price?
C) After we pay for the construction of carpark, why are we still made to pay for the carpark space?
D) If we do not own the land, why are we paying property tax?
The right concept is about the "RENT" of that land for 99 years. What's the difference? For example, if you own that land with strata titles, as owner of that land, you could possibly get consent from other flat owners within your flat to agree to ENBLOCK it to PRIVATE Property Owner anytime, WITHOUT the involvement of HDB at all! But no. HDB doesn't allow you to do that because you are not the land owner but just “renting” it.
Even for private properties, if the lease is getting lesser, or just left 1 or 2 years, it could well cost less than a HDB flat because the "OWNERSHIP" of the land and private property will cease when the leasehold expires!