About 1,700 Flats Surrendered To HDB In Last 5 Years, Says MND
Approximately 1thousand 7hundred public housing were given up to the HDB in the previous five yrs, mentioned Senior Minister of MND Sim Ann in Parliament on 2 Mar.
Out of the numbers, roughly fifty percent were two room units, one-sixth were 3 room public housing, and 1/3 were four room as well as bigger units, Sim Ann expressed.
Sim put together the statement in reply to MP Gan Thiam Poh’s concern on the amount of Housing and Development Board public housing resold to Housing and Development Board, the cause why the flats were marketed and if HDB may take into consideration presenting these kinds of units on its public reservation procedure.
Sim noticed that near one thousand of the submitted flats were on short rental and also comprises small apartment, two room Flexi public housing acquired on a short-term hire alongside flats whose owners opted for Lease Buyback Scheme.
” Property owners of short rent public housing who no more liked to keep their flats or who had actually become unsuitable to carry out so, are obliged to submit their public housing to Housing and Development Board. They are not even permitted to offer for sale these units on the market,” she shared.
The further seven hundred public housing get surrendered mostly as a result of updates in the circumstances of the property owners in their Minimum Occupation Period. These kinds of owners were not authorized to market their HDB units on the open market as they had certainly not completed their MOP.
” Among the most regular reasons for surrender of public housing were divorce, break-up of fiancé-fiancée couples, as well as cancellation of matrimony,” expressed Sim
HDB reimburses homeowners of submitted public housing and promotes them via the Sale of Balance Flat exercises.
“If the public housing continue unchosen after the SBF exercise, they may possibly afterwards be made available in the public reservation,” added Sim.