Asked by Anonymous
Why does HDB restrict people from buying overseas property during mop? Does the overseas property purchase affect the local property market in any way?
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1 Answer
Hi,
HDB must have their reasons for doing so, and we are not in a position to question this policy.
However, my thinking is that, if you're able to afford another overseas property within your 5 years MOP, it would probably mean that you're "well-to-do". HDB would not "encourage" people like yourself to compete with the "average income earners" for HDB flats. Because with your income, you could probably go for a private condo, and leave the HDB flats for the "middle class". If more and more Buyers like yourself still insist to purchase HDB flats instead of condos, HDB prices would be jacked up, making it more less affordable to the average working class. This is what HDB do not want.
Hence, I believe this is why the 5-year MOP rule is in place, to try to discourage "well-to-do" people like yourself, and push you to go for private condos instead.
Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you and your partner in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
HDB must have their reasons for doing so, and we are not in a position to question this policy.
However, my thinking is that, if you're able to afford another overseas property within your 5 years MOP, it would probably mean that you're "well-to-do". HDB would not "encourage" people like yourself to compete with the "average income earners" for HDB flats. Because with your income, you could probably go for a private condo, and leave the HDB flats for the "middle class". If more and more Buyers like yourself still insist to purchase HDB flats instead of condos, HDB prices would be jacked up, making it more less affordable to the average working class. This is what HDB do not want.
Hence, I believe this is why the 5-year MOP rule is in place, to try to discourage "well-to-do" people like yourself, and push you to go for private condos instead.
Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you and your partner in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
- ABAli babaRepliedHuh? Can afford overseas property on top of hdb means well to do? That is a very shallow way to come up with policy if this is the reason.