Wait-out Period Requirement for Singaporeans and PRs After Divesting Overseas Properties
- Assoc Prof Jamus Jerome Lim asked why Singapore Citizens and Permanent Residents must wait after selling overseas properties but not local ones to buy HDB flats.
- Desmond Lee explained that the wait-out period applies to owners of both local and overseas private properties to ensure consistent treatment and prioritize public housing for those in greater need.
- The government has exemptions for seniors and considers case-by-case flexibility for others with urgent housing needs, regardless of where the property was located.