20,000 People Own 3 To 10 Private Homes In S’pore: Ministry

[Arcachon]

https://www.propertyguru.com.sg/property-management-news/2018/2/168947/20000-people-own-3-to-10-private-homes-in-spore-ministry

Only a few people own over 10 private homes in Singapore, revealed the Ministry of National Development.

Fewer than 200 people currently have more than 10 private residential properties in Singapore, according to a written answer from the Ministry of National Development released on Monday (5 February).

It stated this in response to a query from Gan Thiam Poh, MP for Ang Mo Kio GRC, who also asked about the current number of individuals who own a specific number of private units.

“About 381,000 Singapore citizens, permanent residents, and foreigners own one private residential property in Singapore. About 59,000 own two (and) 20,000 own three to ten private residential properties,” replied the Ministry.

“Of these private residential property owners, 15 percent also own an HDB flat,” it said in response to another question from Gan, who worked as a Senior Vice-President at DBS Bank.

381,000 x 0.15 = 57,150 HDB availble to rent.

[Arcachon]

https://data.gov.sg/dataset/number-of-renting-out-of-flat-approvals-by-flat-type-quarterly

about 47,560 unit Renting Out of Flat Approvals by Flat Type

[Gustave44]

https://www.edgeprop.sg/property-news/reviewing-cpf-use-purchase-shorter-lease-flats

Reviewing CPF use for purchase of shorter-lease flats

Besides the Voluntary Early Redevelopment Scheme (VERS), the other silver lining for owners of ageing HDB flats is the announcement by Minister for National Development Lawrence Wong, who said in his blog post on Aug 20 that his ministry was looking into allowing buyers of shorter-lease flats to use more of their Central Provident Fund account for their purchase, “without compromising their retirement savings”.
This will help buyers who wish to purchase flats in older locations, says Eugene Lim, key executive officer of ERA Realty Network. It will also benefit sellers of older flats, as there would be more prospective buyers, he adds. “This is a very welcome move that is targeted at addressing the growing concern among HDB flat owners about their depleting leases and the difficulty of selling these flats, owing to the limitations placed by CPF on the use of CPF funds by prospective buyers.”