Calls made to curb subletting issues

The government’s introduction of new measures to curb speculations on buying and selling HDB flats does not address the subletting issue, according to some property experts.

Under the government's rules, resale flat buyers can sublet their flat after three years of occupancy if they did not obtain a HDB loan. However, if they purchased the flat under the government grant or HDB loan, the minimum occupancy period is five years.

“If you want to stop prices from rising and people from speculating, control the rental market too,” said Mr. Raymond Quah, president of Dennis Wee Properties.

The Singapore rental market indirectly influences resale flat prices, according to property agents.

HDB flat owners, realising that they can earn money by subletting their flats, are unlikely to sell it if they have decided to purchase private property.