Leasehold estates are mainly granted in terms of 999-year leases, or 99-year leases. The land belongs to the State, which leases the property to the leasee, for a fee, in exchange for exclusive possession and use, subject to certain conditions and covenants.
Estate In Perpetuity
An estate in perpetuity is an interest in land, created by a grant of land to an individual by the State in perpetuity, subject to terms and conditions agreed upon by the two parties. Such an interest may also be governed by the State Lands Act.
Pros & Cons
There are something which is as important as Land Tenure. In Singapore Real Estate, value of properties also based on Location, Locality, Surroundings, Views, Concept, Design, Functionality, Facilities & Amenities.
It is depending on what districts your looking for. For D09-10, D15-16 you may find that most of the residential properties have Freehold Tenure. In the other hand, new town or town centre you may find that most of prime good lands owned by State or Housing Board. State and Housing Board will lease out for development as 99 Years Leasehold. (Long time ago they lease out as 999 Years Leasehold. As at that age, citizen still not used to Leasehold Tenure)
Location & Locality.
Most of the prime land near to MRT Station belong to State& Housing Board. Government of Singapore acquired from private sometime ago. Therefor 99 Years Leasehold properties that have such good location near MRT Station and amenities might be in high demand and high potential for redevelopment too.