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I own a Hdb flat which I paid in cash, I am told that I have to physically live in the flat? Am I a prisoner of my flat? what are the rules since I was told I am not allowed to rent it. I am also not allowed to sell it on the open market??
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1 Answer

Mike Lim
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Evening,

Depending on your purchase date for your current unit and your citizenship status, things might defer from you you gathered it to be.

If you are PR, you are eligible to purchase your second property upon fulfilling MOP but you are required to sell away your HDB unit within 6 months from key collection.

If you are SC, upon fulfilling the MOP, you are eligible to purchase your second property, stay in it and rent out your private property.

MOP requirement varies based on your purchase date. All ruling are in placed to prevent buyers from 'flipping' the property market.

Regards
Mike Lim
 96929209 
ERA Read More
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