Published on Sep 04, 2013
THE current policy requiring private property owners to sell their homes if they buy HDB flats affects many retirees who want to downgrade and rent out their residences ("Home ownership rules: HDB replies", Aug 23; and "Minimum occupation period not the issue" by Mrs Chloe Loke, Forum Online, last Wednesday).
In contrast, HDB flat owners, after satisfying the minimum occupation period, can buy private properties and choose to keep their flats. They have the benefit of renting out either their HDB flats or private properties.
With the huge supply of private properties coming on-stream over the next few years to cater to the rental market, perhaps it is timely for the HDB to review its policy of allowing the rental of whole HDB flats.
It should continue to allow an HDB flat owner who buys private property after satisfying the minimum occupation period to retain the flat - but he must continue to live in it.
To ensure fairness, a private property owner who buys an HDB flat must also live in it.
Since both HDB flat owner and private property owner must live in their flats, this will leave them the option of renting out their private properties, ensuring sufficient private homes in the rental market.
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