Buyers of resale flats are not allowed to retain ownership of private homes in Singapore or abroad.
With HDB flats meant for owner-occupation, buyers of resale flats are not allowed to retain ownership of private residential properties in Singapore or abroad, explained the Ministry of National Development in a written reply to Parliament on Monday (14 Jan).
In fact, slightly over 5,000 Singaporean households have disposed of their private residential properties after buying HDB resale flats since the policy was rolled out in 2010.
Over the past three years, around 1,200 households have appealed to retain ownership of their private homes.
HDB has acceded to around 300 appeals after taking into account specific facts of the case, such as the share of the owner in the private home and the reasons why the private home could not be recovered for his or her own use.
Home buyers looking for Singapore Properties may like to visit our Listings, Project Reviews and Guides.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
