New Reporter
07-02-24, 12:21
HDB approves 25% of appeals to waive 15-month waiting period for condo downgraders
Feb 05, 2024
THE Housing and Development Board (HDB) has acceded to 25 per cent of appeals filed by private property owners seeking to waive the 15-month wait-out period ahead of their purchase of an HDB resale flat.
National Development Minister Desmond Lee said on Monday (Feb 5) that of the 3,470 appeals HDB received between Sep 30, 2022 and Dec 31, 2023, about 850 were approved.
These were mostly cases involving individuals in financial difficulties and without alternative housing options, or those who furnished evidence that they had committed to sell their private residential property, or those who were buying an HDB resale flat before Sep 30, 2022, a day after the new wait-out period was announced.
Lee was responding to a parliamentary question by Member of Parliament for Potong Pasir Sitoh Yih Pin, who had asked for data on the number of appeals received and the success rate of such appeals.
The government introduced a slew of property cooling measures in September 2022, including one stipulating that private homeowners would have to wait 15 months from the sale of their property before being cleared to buy an HDB resale flat.
Lee had said then that the measure was put in place to moderate the demand for HDB resale flats and keep them affordable.
This requirement does not apply to Singaporean home-owning couples in which both spouses are 55 years old and above, and are moving from their private property to a four-room or smaller resale HDB flat.
https://www.businesstimes.com.sg/property/hdb-approves-25-appeals-waive-15-month-waiting-period-condo-downgraders
Feb 05, 2024
THE Housing and Development Board (HDB) has acceded to 25 per cent of appeals filed by private property owners seeking to waive the 15-month wait-out period ahead of their purchase of an HDB resale flat.
National Development Minister Desmond Lee said on Monday (Feb 5) that of the 3,470 appeals HDB received between Sep 30, 2022 and Dec 31, 2023, about 850 were approved.
These were mostly cases involving individuals in financial difficulties and without alternative housing options, or those who furnished evidence that they had committed to sell their private residential property, or those who were buying an HDB resale flat before Sep 30, 2022, a day after the new wait-out period was announced.
Lee was responding to a parliamentary question by Member of Parliament for Potong Pasir Sitoh Yih Pin, who had asked for data on the number of appeals received and the success rate of such appeals.
The government introduced a slew of property cooling measures in September 2022, including one stipulating that private homeowners would have to wait 15 months from the sale of their property before being cleared to buy an HDB resale flat.
Lee had said then that the measure was put in place to moderate the demand for HDB resale flats and keep them affordable.
This requirement does not apply to Singaporean home-owning couples in which both spouses are 55 years old and above, and are moving from their private property to a four-room or smaller resale HDB flat.
https://www.businesstimes.com.sg/property/hdb-approves-25-appeals-waive-15-month-waiting-period-condo-downgraders