reporter2
22-01-14, 10:45
http://www.straitstimes.com/archive/friday/premium/top-the-news/story/hdb-sets-quotas-renting-out-flats-foreigners-and-prs-20140117
HDB sets quotas for renting out flats to foreigners and PRs
Published on Jan 17, 2014
By Janice Heng
QUOTAS have been placed on the proportion of public flats which can be rented out to foreigners and permanent residents (PRs).
No more than 11 per cent of units in any single block can be rented out to them. The limit is 8 per cent for each Housing Board neighbourhood.
These caps were announced yesterday by the HDB, a month after Minister for National Development Khaw Boon Wan said they were in the works.
The quotas are "to prevent the formation of foreigner enclaves in HDB estates, and maintain the Singaporean character of our HDB heartland", said the Housing Board.
Malaysians, however, are exempt as they "can better integrate" because of their close links with Singaporeans.
The quotas apply to whole flats only, and will not affect those who sublet rooms.
This is to reduce the impact on those who rely on subletting income, "especially the elderly and low-income households".
Less than 4 per cent of flats across Singapore are wholly rented out to foreigners. But the figure can rise to as high as 9 per cent in some areas, and 18 per cent in certain blocks.
As of last month, about 1 per cent of neighbourhoods and blocks had reached the quotas, the HDB told The Straits Times.
These affected areas contained 1,840 sublet units - 270 of which were in excess of the quotas - in towns such as Central, Clementi, Jurong West, Queenstown and Sengkang.
But existing tenants will not be affected immediately.
Flat owners who are now subletting their flats can continue doing so, for the remaining rental period which was approved by the HDB.
Although a small number of flats are directly affected now, Century21 chief executive officer Ku Swee Yong believes the quotas will still bite in the long run, especially in neighbourhoods where many foreigners work, such as around Changi General Hospital or business parks like Fusionopolis in Buona Vista.
"For certain neighbourhoods, the quotas will be very difficult to comply with," he said.
A new e-service on the HDB's website will allow people to check whether a unit can be sublet to Singaporeans and Malaysians only, or to other non-citizens too. The information, to be updated on the first day of each month, will be valid for the whole month.
[email protected]
HDB sets quotas for renting out flats to foreigners and PRs
Published on Jan 17, 2014
By Janice Heng
QUOTAS have been placed on the proportion of public flats which can be rented out to foreigners and permanent residents (PRs).
No more than 11 per cent of units in any single block can be rented out to them. The limit is 8 per cent for each Housing Board neighbourhood.
These caps were announced yesterday by the HDB, a month after Minister for National Development Khaw Boon Wan said they were in the works.
The quotas are "to prevent the formation of foreigner enclaves in HDB estates, and maintain the Singaporean character of our HDB heartland", said the Housing Board.
Malaysians, however, are exempt as they "can better integrate" because of their close links with Singaporeans.
The quotas apply to whole flats only, and will not affect those who sublet rooms.
This is to reduce the impact on those who rely on subletting income, "especially the elderly and low-income households".
Less than 4 per cent of flats across Singapore are wholly rented out to foreigners. But the figure can rise to as high as 9 per cent in some areas, and 18 per cent in certain blocks.
As of last month, about 1 per cent of neighbourhoods and blocks had reached the quotas, the HDB told The Straits Times.
These affected areas contained 1,840 sublet units - 270 of which were in excess of the quotas - in towns such as Central, Clementi, Jurong West, Queenstown and Sengkang.
But existing tenants will not be affected immediately.
Flat owners who are now subletting their flats can continue doing so, for the remaining rental period which was approved by the HDB.
Although a small number of flats are directly affected now, Century21 chief executive officer Ku Swee Yong believes the quotas will still bite in the long run, especially in neighbourhoods where many foreigners work, such as around Changi General Hospital or business parks like Fusionopolis in Buona Vista.
"For certain neighbourhoods, the quotas will be very difficult to comply with," he said.
A new e-service on the HDB's website will allow people to check whether a unit can be sublet to Singaporeans and Malaysians only, or to other non-citizens too. The information, to be updated on the first day of each month, will be valid for the whole month.
[email protected]