Why sell properties when you can sell papers?
Selling bricks and mortars, and land, is a very lucrative business. Buy the land, build it into something fanciful, and walla, big profits. But our land is limited and the cost of material is increasingly rapidly. There is also a political cost. Why not sell pieces of papers? The most valuable piece of paper to sell from this little red dot is the Red Passport. I am not sure what is the going rate in the black market for a fake or stolen one. But it must be in the thousands. It is like getting a passport to heaven. The Red Passport carries a lot of weight and makes travelling very convenient and quite respectable too. Why not make it official and sell it to the highest bidder like COE? But no, to avoid queer results like $1 a piece, make it $100k a piece. No worry about double citizenship or national service. It is a special passport. And to make it high class, or only for the high net worth people so as not to tarnish its reputation, the buyer must also buy a property here to have an official residential address. In this way, the cheap skates would not be able to get one easily. This does not rule out the mafias and drug lords. Never mind, close one eye. As long as they are rich, they are welcomed. And we can call this the Premier Passport, with no voting rights of course. Just a convenient card to carry around. Good for revenue and good for the property market.