A new HDB rule to curb speculation in its commercial and industrial properties has been effective, said National Development Minister Khaw Boon Wan on Friday.
The average transfer fees for HDB commercial and industrial properties have fallen by about 33 per cent and 42 per cent respectively since the rule was introduced last October, he wrote.
Back then, the board had moved to ban new tenants from transferring their HDB rental premises to others for a cash premium, known as an assignment fee. Business owners "assign" their properties to others because they are either not doing well or to profit from a transfer.
While HDB has banned tenants who started renting HDB commercial or industrial properties after Oct 16 from transferring their properties, long-time tenants who qualify can do so until October 2016.