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PR Newswire
10-01-2012, 06:19 PM
Business Times - 10 Jan 2012
95% of PRs who own HDB flats are owner-occupants
By MINDY TAN
MORE than 95 per cent of Singapore permanent resident (PR) households who own HDB flats are owner-occupants, according to figures released by the Ministry of National Development (MND).
This figure was made known in Parliament yesterday after Member of Parliament (MP) for Ang Mo Kio GRC Ang Hin Kee asked if it should be mandatory for PRs to occupy the HDB flats that they own.
Singapore PR households can purchase HDB flats only from the resale market, and are not eligible for government subsidies.
MND added that while HDB flats are primarily meant for owner-occupation, exceptions are made for flat owners who have legitimate reasons for being unable to occupy their flats for certain periods of time.
In such cases, owners may seek approval from HDB to sublet their flats. Each approval is valid for up to three years, after which owners are required to submit a fresh application to continue subletting.
In other written answers to questions raised, MND said that 2,883 direct-purchase flats were sublet within two years after completing their five-year Minimum Occupation Period (MOP), within the five-year span of January 2007 to November 2011. Of these, 971 were sublet to PRs residing in Singapore.
In that same period, 7,205 direct-purchase HDB flats were sold in the resale market within two years after MOP, constituting 9 per cent of all direct-purchase flats which were eligible for resale.
Separately, in the last five years, about 0.2 per cent of CPF members who service their mortgage through CPF have had to use cash to pay their monthly instalments because their CPF usage had reached or exceeded the valuation limit of their flats, said MND in a written response to a question raised by Jurong GRC MP, David Ong.
Non-Constituency MP Gerald Giam asked how home owners at Rochor Centre, which is set to make way for the construction of the North-South Expressway, will be compensated if they choose not to relocate to new flats in Kallang.
In a written response, MND noted that all flat owners are given a removal allowance as well as stamp and conveyancing fees to buy a comparable replacement flat, on top of market compensation.
Residents who choose not to relocate to the new flats in Kallang may apply for a new flat elsewhere under HDB's public sales exercises, and enjoy the same relocation benefits, including the price discount.
Alternatively, they may choose to sell their existing flat with the relocation package in the resale market, MND said.
95% of PRs who own HDB flats are owner-occupants
By MINDY TAN
MORE than 95 per cent of Singapore permanent resident (PR) households who own HDB flats are owner-occupants, according to figures released by the Ministry of National Development (MND).
This figure was made known in Parliament yesterday after Member of Parliament (MP) for Ang Mo Kio GRC Ang Hin Kee asked if it should be mandatory for PRs to occupy the HDB flats that they own.
Singapore PR households can purchase HDB flats only from the resale market, and are not eligible for government subsidies.
MND added that while HDB flats are primarily meant for owner-occupation, exceptions are made for flat owners who have legitimate reasons for being unable to occupy their flats for certain periods of time.
In such cases, owners may seek approval from HDB to sublet their flats. Each approval is valid for up to three years, after which owners are required to submit a fresh application to continue subletting.
In other written answers to questions raised, MND said that 2,883 direct-purchase flats were sublet within two years after completing their five-year Minimum Occupation Period (MOP), within the five-year span of January 2007 to November 2011. Of these, 971 were sublet to PRs residing in Singapore.
In that same period, 7,205 direct-purchase HDB flats were sold in the resale market within two years after MOP, constituting 9 per cent of all direct-purchase flats which were eligible for resale.
Separately, in the last five years, about 0.2 per cent of CPF members who service their mortgage through CPF have had to use cash to pay their monthly instalments because their CPF usage had reached or exceeded the valuation limit of their flats, said MND in a written response to a question raised by Jurong GRC MP, David Ong.
Non-Constituency MP Gerald Giam asked how home owners at Rochor Centre, which is set to make way for the construction of the North-South Expressway, will be compensated if they choose not to relocate to new flats in Kallang.
In a written response, MND noted that all flat owners are given a removal allowance as well as stamp and conveyancing fees to buy a comparable replacement flat, on top of market compensation.
Residents who choose not to relocate to the new flats in Kallang may apply for a new flat elsewhere under HDB's public sales exercises, and enjoy the same relocation benefits, including the price discount.
Alternatively, they may choose to sell their existing flat with the relocation package in the resale market, MND said.
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