Debated in Parliament on 10 Jan 2023.
Mr Leong Mun Wai asked the Minister for National Development what is the current number of HDB flats that have not been resold by their first owner.
HDB flats are primarily meant for owner-occupation, and hence all flat owners are subjected to a five-year Minimum Occupation Period (MOP), or a 10-year MOP for Prime Location Public Housing (PLH) flats, before they can sell their flat on the open market.
As at December 2022, there are about 379,700 flats purchased from HDB that have not been resold by their first owner.
Flat owners resell their flats for various reasons, such as to purchase a larger flat to accommodate a growing family, or to right-size for their needs. They may also prefer to move nearer to ageing parents or their children for mutual care and support.
PAPERCUTS