Debated in Parliament on 11 May 2021.
Mr Murali Pillai asked the Minister for National Development (a) in each year of the past three years, how many applications for reducing the Minimum Occupation Period (MOP) has been received by HDB; (b) what are the usual grounds relied on by the applicants; (c) what is the average percentage of applications that are allowed by HDB in the past three years; and (d) what are the circumstances under which HDB may be persuaded to reduce the flat owner’s MOP.
HDB does not actively track the number of unique appeals from flat owners who wish to sell their flat before fulfilling their minimum occupation period (MOP) as the data may include duplicate and repeated requests.
In the last three years, HDB has given approval to about 4,500 households to sell their flat on the open market before meeting their MOP. The reasons for such exceptions include financial hardship, divorce or the demise of the flat owner. For comparison, over the same period, there were about 71,600 resale transactions.
The MOP remains important to ensure that flat owners purchase HDB flats with the intent of living in the flats themselves, instead of quickly reselling the flats for profit. This safeguards HDB flats for households with genuine housing needs. It also deters the speculative purchase of HDB flats and thus helps to keep HDB flats affordable. HDB assesses all appeals for a waiver of the MOP on a case-by-case basis, taking into account the specific circumstances of the flat owners and their families.
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