Debated in Parliament on 5 Feb 2024.
Mr Sitoh Yih Pin asked the Minister for National Development (a) what is the number of appeals received by HDB to waive the 15-month wait-out period to buy a HDB resale flat after disposing of a private property since the imposition of this rule; (b) what is the number of appeals that are successful; and (c) what are the reasons for allowing the successful appeals.
As part of the property cooling measures introduced on 30 September 2022 to promote sustainable conditions in the property market, private residential property owners (PPOs) and ex-PPOs need to wait for a period of 15 months after the disposal of their properties, before buying a non-subsidised Housing and Development Board (HDB) resale flat. To support seniors' retirement needs, Singapore Citizens who are moving from their private property to a 4-room or smaller resale HDB flat are exempted from the wait-out period if both spouses are 55 years old and above.
Between 30 September 2022 and 31 December 2023, HDB received about 3,470 appeals. After evaluating each appeal for waiver of the 15-month wait-out period based on the individual merits of each case, HDB acceded to about 850 appeals – or around 25% of appeals received. These were mostly cases involving (a) individuals who provided evidence that they had committed to sell their private residential property, or to buy an HDB resale flat, before 30 September 2022; or (b) those who were in financial difficulties or extenuating circumstances, with no alternative housing options.
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