That's the question I'm asking, prompted by two announcements in the last week.
First, City Developments' Chairman Kwek Leng Beng sold a unit in the new St. Regis development - the one in which a serviced apartment was recently sold for S$3,000 per square foot - to his wife, and another to his sister.
They received discounts of 17% and 15% respectively.
Second, Fraser Centerpoint sold a unit in its Jervois development at a 15% discount to a person connected to the company.
How fair is this?
Well, personally I don't think this should be an issue in these two cases.
First, because it was properly disclosed. The sales we need to worry about are those we read about in the press. By making the correct disclosure to the Singapore Exchange these companies have laid themselves bare to scrutiny and comment from people like me.
Second, the buyers of these units are not politicians, public servants, or other people who the company is potentially trying to curry favour with.
Third, the people who bought the properties got discounts no greater - according to the companies, at least - than members of the public. That said, an additional loyalty discount or directors discount were applied in these two cases, and there could be an argument that they shouldn't have got any additional discounts. Afterall, they already got 15% discounts!