Monday, 4 February 2013

Finally! Singaporeans First for Property !

Singaporeans First for Property ! In the first place, why should PRs get to buy Singapore HDB flats. You convert to a Singaporean than buy!

According to official figures, about 2,300 Singapore permanent residents (PRs) who own Housing and Development Board (HDB) property will be impacted by the government's latest round of cooling measures.

From last Saturday (January 12), PRs owning HDB flats are no longer allowed to sublet their entire property even after the stipulated Minimum Occupation Period (MOP).

Those PRs who have been already approved by HDB to sublet their flats prior to the introduction of the new measures will be allowed to continue with the subletting arrangement until the current tenancy expires.

According to data provided to PropertyGuru by the HDB, there were approximately 50,700 HDB flats owned by PR households as of December 2012 – roughly five percent of the total supply. Of these, HDB said around 2,300 PR households sublet their whole flats.

It is not known how many HDB-owning Singapore PRs were subletting their entire flats without approval from the housing board.

A spokesperson for HDB told PropertyGuru: "Subletting of the entire flat without HDB's approval is an infringement of the terms of the lease. Those who commit the infringement could have their flat compulsorily acquired by HDB."

Questioned about enforcement, the spokesperson added: "HDB conducts routine inspections of all HDB blocks. We also carry out regular checks on flats that have been approved for subletting and investigate suspected cases of unauthorised subletting.  Residents are encouraged to call our hotline at 1800 555 6370 (Monday to Friday – 8am to 5pm) to report any suspected cases of unauthorised subletting of flats."

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