PR cannot sublet HDB liao

[Mockngbrd]

http://www.straitstimes.com/BreakingNews/S...ory_821037.html

 

Under regulations which take effect on Wednesday, Housing Board flat owners who are permanent residents will no longer be able to sublet their flats for an indefinite period of time.

 

Presently, flat owners who are Singapore citizens and permanent residents are allowed to sublet their flat after the minimum occupancy period. The approval is granted for a maximum of three years per application, and owners can apply to renew the period of subletting upon the expiry of each three-year period, said a Housing Board spokesman on Wednesday morning. There is also no cap on the number of renewals and the total period of subletting, he added.

 

Under the revised rule, permanent residents will only be allowed to sublet their flat if they have not done so before. The approval will be granted for a year only, instead of three years. Upon expiry of the one-year period, the application to extend the approval will be assessed on a case-by-case basis and approval will be granted only if there are extenuating reasons, said the spokesman.

 

The total period of subletting during the flat owners' entire duration of the flat ownership will be capped at five years.

 

 

[Alpha78]

Another small step in the right direction.

[Rubbishman]

This measure will drive the HDB rental prices up to a certain extent. Be prepare for rising living costs.

[marwing]

i know many PR subleting their flat and live like king in their home country.

 

Even one year is allowed, HDB must still tax this, on top of property tax.

[Jrage]

This measure will drive the HDB rental prices up to a certain extent. Be prepare for rising living costs.

 

Yes.. this will drive rental overall. HDB as well as PTE. Those on EP will need probably chose to get a condo instead. PTE price will go up also.

 

 

And the prices of HDB may go down as PR who has already left sg or owns and stay a pte will have to sell their HDB.

 

[JumpySpeedFiend]

Another welcomed move by the government. Two in the roll, keep it going.

[Liping24cn]

Huat ah, demand for rental will increase.

More PR will buy private properties instead to sublet.

Market for private will boomz.

 

[Alpha78]

This measure will drive the HDB rental prices up to a certain extent. Be prepare for rising living costs.

 

This may not be a bad thing, considering that those who rent rooms and share them with a few others, are those entry-level PMETs, who are artificially depressing the wages of local PMETs. With such rising cost, foreign PMETs will demand higher wages, which in turn decreases their competitiveness, and employers will be more inclined to hire locals.

 

If less foreigners decide to work here, it may even relief the congested public transport infrastructure.

 

Of course, on the flip side, if large numbers of them leave, property prices will fall, those who bought at high prices will have the urge to jump off their apartments.

 

Overall, the market will find its equilibrium point, and I'm hopeful it will be a positive one.

[Mustank]

HO SEI LIAO LAH!!!!!

 

Sarppork Uncle Khaw!!!!!

 

i tell you, next election, Uncle Khaw cumfirm woon woon jia bee hoon liao lah!!!!!

 

i bet his votes will be the highest among all pap chaps

[Calvin79]

Giving credit when its due...

well done to Govt this time...

[Mustank]

Giving credit when its due...

well done to Govt this time...

 

you never see my very big ho sei liao

[Galantspeedz]

It's good to see things moving...... slowly but at least it is moving.....

[Liping24cn]

Tis type of change is very nice as it shows the gov really put heart to implement.

 

Next should be to tame the COE.

[Jman888]

any loophole?

[Maroon5]

i am jus very surprised why mah is given sh*t, during his stint. it doesnt take a genius to know wat is the problems driving our public housing and even his toes would know to take these corrective steps.

[Mustank]

J22, kin fall in and sarppork!!!!!!

[Wt_know]

can sporean live in condo and let out hdb forever ever (or limit max 5 years too) as passive income?

Edited July 11, 2012 by Wt_know

[Royho1979]

HO SEI LIAO LAH!!!!!

 

Sarppork Uncle Khaw!!!!!

 

i tell you, next election, Uncle Khaw cumfirm woon woon jia bee hoon liao lah!!!!!

 

i bet his votes will be the highest among all pap chaps

 

Ya.. he is not bad...

 

I think a better move would be to ban PR from subletting period. It is a already a privilege for PR to be able to purchase public housing in Singapore... If you are going to buy and not use, u are wasting resources of your host nation.

 

A better way would be for the PR to rent it back HDB at the rate of the monthly mortgage. Who will then rent it out publicly.. The gov gets to pocket the difference in $.