Results 1 to 2 of 2

Thread: Flat owners buying private property: HDB replies

  1. #1
    Join Date
    Oct 2011
    Posts
    10,829

    Default Flat owners buying private property: HDB replies

    http://www.straitstimes.com/forum/le...ty-hdb-replies

    Flat owners buying private property: HDB replies

    Dec 30, 2016


    The same rules on ownership of private residential property apply to both resale flat buyers and existing flat owners ("Review policy on HDB flat owners buying private property" by Mr Philip Toh Kee Poon; Dec 22).

    During the first five years following the purchase of an HDB flat, also known as the minimum occupation period, a flat owner cannot own, buy, or invest in a private residential property.

    This rule serves to reinforce the home ownership principle underlining public housing policies.

    We recognise, however, that some Singapore citizens may aspire to own private residential property as their financial situation improves.

    Therefore, an existing flat owner can own, buy or invest in a private residential property after he has met the minimum occupation period.

    Similarly, a private residential property owner who buys a resale flat will also have to meet the minimum occupation period, before he can own a private residential property concurrently.

    He is, therefore, given six months to dispose of his private residential property after the purchase of the flat.

    Lily Chan-Wong Jee Choo (Mrs)

    Director (Policy and Property)

    Housing and Development Board

  2. #2
    Join Date
    May 2012
    Posts
    4,035

    Default

    It's like NS. Once it is served, many doors open, and opportunities avail.

    We discussed this many times before already.

    Quote Originally Posted by reporter2 View Post
    http://www.straitstimes.com/forum/le...ty-hdb-replies

    Flat owners buying private property: HDB replies

    Dec 30, 2016


    The same rules on ownership of private residential property apply to both resale flat buyers and existing flat owners ("Review policy on HDB flat owners buying private property" by Mr Philip Toh Kee Poon; Dec 22).

    During the first five years following the purchase of an HDB flat, also known as the minimum occupation period, a flat owner cannot own, buy, or invest in a private residential property.

    This rule serves to reinforce the home ownership principle underlining public housing policies.

    We recognise, however, that some Singapore citizens may aspire to own private residential property as their financial situation improves.

    Therefore, an existing flat owner can own, buy or invest in a private residential property after he has met the minimum occupation period.

    Similarly, a private residential property owner who buys a resale flat will also have to meet the minimum occupation period, before he can own a private residential property concurrently.

    He is, therefore, given six months to dispose of his private residential property after the purchase of the flat.

    Lily Chan-Wong Jee Choo (Mrs)

    Director (Policy and Property)

    Housing and Development Board
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

Similar Threads

  1. Private Property Owners and 2-rm Flexi Scheme
    By Kelonguni in forum Singapore Private Condominium Property Discussion and News
    Replies: 57
    -: 01-09-15, 12:44
  2. Property tax cut for one in four private home owners
    By reporter2 in forum Finance and Legal
    Replies: 0
    -: 16-12-14, 15:14
  3. Should Hdb flat owners be allowed to buy pte property n vice versa: Discussion
    By princess_morbucks in forum Singapore Private Condominium Property Discussion and News
    Replies: 30
    -: 14-05-14, 19:00
  4. Why are HDB owners allowed to own private property?
    By buttercarp in forum Singapore Private Condominium Property Discussion and News
    Replies: 145
    -: 13-01-13, 13:34
  5. Income ceiling stays - buy resale if you can't afford private, replies HDB
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 2
    -: 21-09-09, 22:03

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •