HDB Flats Rented out to Foreigners by Owners Who Rely on Rental Income for Retirement or Loan Servicing

Mr Gan Thiam Poh asked the Minister for National Development (a) what is the current number of HDB flats rented out to foreigners; and (b) how many HDB flats are currently rented out by owners who (i) rely on the rental income for retirement or (ii) have outstanding housing loans to service.

Currently, about 58,900 HDB flats, or 6% of all HDB sold flats, are wholly rented out in the open market. Of these, about 52,200 are rented out to non-residents.

Among HDB flat owners who are currently renting out their flats, 20% have an outstanding HDB housing loan. As for the reasons for renting out their flat, 12% said that they needed the rental income to meet their retirement needs. Apart from seniors who are renting out their HDB flats to supplement their retirement income, flat owners may also rent out their flats for other reasons such as to live with their parents or children for mutual care and support.