1.   Palatine shareholders are being offered a significant increase in capital value and income, plus a substantial premium over net asset value.

2.   These dividends have provided most of the return on shares, if capital values are adjusted for inflation.

3.   When income stream is not coming through and capital values are falling then you are going to get problems.

4.   For example, the cost of ramps and other modifications to enable a paraplegic to get about the house may even reduce the capital value of the house.

5.   More worryingly, confidentially clauses are being used to falsely maintain capital values.

6.   On the other hand, the capital value seems very high.

7.   If a fair regime was not established, he warned, then landlords would see it as tenants removing capital value.

8.   As the value of the house rises, the tax falls as a proportion of the capital value.

9.   Kwok said self-restraint among the developers in pricing their apartments eased concerns that the government will impose harsh measures to stem soaring capital values.

10.   The assumption that capital values will continue to grow is just the trap that the Japanese fell into.