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Old 14-09-2003, 01:41 PM   #40
sunsetbay
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Post PRIVATE PROPERTY TO HDB

common replies from HDB & ministers, "public housing are heavily subsidised".

Fm ST, 11 Sept 2003

Waiver of waiting period for special cases

I REFER to Mr Tan Boon Eng's letter ('7 ways to ease impact of CPF cuts on property'; ST, Sept 5), which suggested that the Housing Board review its policy to allow private-property owners who face financial difficulties to downgrade to new HDB flats without fulfilling the 30-month waiting period.

New HDB flats are heavily subsidised and are meant for those who cannot afford alternative housing. Those who have sold a private property have to observe the 30-month waiting period, as they are generally able to purchase a resale flat using their sales proceeds. There is no time-bar for private-property owners who want to buy resale flats.

Nonetheless, HDB will consider waiving the 30-month waiting period on a case-by-case basis for those who are in genuine financial hardship and cannot afford a resale flat even after the sale of their private property.


TAY BOON SUN
Senior Public Relations Officer
for Director (Corporate Development)
Housing and Development Board
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