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Confusion lies ahead for PRs?
I currently own a HDB (for 12 years) and several private condominium properties. I am currently a PR who is considering applying to become a Singapore citizen.

All properties are currently rented out including the HDB. That lease expires on 30th September 2012.

My dilemma right now is with the new changes in the HDB regulations for renting out their flats. What is the direct impact on me as a SPR and what effect (if any) will there be if I do become a citizen?

I don't need to sell it do I?
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3 Answers

Mike Lim
Replied
Morning Kenlin,

As per reported on the news, PRs who intend to rent out their HDB unit will have to apply for approval from HDB and every case will be screened. Cases where it's obvious that the PR do not need the HDB unit as an essential roof over their head will most likely be requested to sell off their unit. Even if rental approval is given, it will only be max of 5 years, renewed yearly, throughout the period of ownership.

FYI
Mike Lim
 96929209 
ERA Read More
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Geryl Lim
Replied
Hi Kenlin,

I strongly believe that this is a move by the government to free up more available HDB resale units for citizens and PR who cannot afford to purchase private housing to purchase a resale HDB if there is no option for these purchasers to wait for BTO unit to TOP.

I do not quite understand what position you are in given that you have mentioned that you have multiple properties on hand, what is the main consideration behind in taking up citizenship or not? It is worthwhile to renounce your existing citizenship elsewhere to take up Singapore citizenship so that you can continue to enjoy renting out your HDB? On the other hand, would it be good if you sell your HDB and cash out for some other investments should you decide to remain status quo?

Let me know your concern and I maybe able to advise better.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
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  • KL
    Replied
    I think I don't mind selling up my HDB if I can seek better gains from some other investment opportunity. I see the pluses and minuses in both.

    With the latest HDB changes, it doesn't immediately concern me as I believe that Singapore Citizenship ought to be granted given my financial standing here. But you never know, if it doesn't happen, then I have no choice but to give it up.
Koh Zhen Hon
Replied
Hi,

Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ 82798327  -

Why Should HDB Sellers engage me? Contact me @ 82798327 

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Shalom

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