About 1,700 Flats Surrendered To HDB In Last 5 Years, Says MND - Midwood™ Condo @ Hillview Rise (Updated - 2022)

About 1,700 Flats Surrendered To HDB In Last 5 Years, Says MND

Approximately 1.7K flats were given up to the HDB in the last five years, stated Senior Minister of MND Sim Ann in Parliament on 2 March.

Of these, approximately 50% were two room units, 1/6 were 3 room units, as well as one out of 3 were 4 room or even bigger units, Sim Ann mentioned.

Sim prepared the statement in feedback to Member of Parliament Gan Thiam Poh’s questioning on the figure of HDB public housing re-selled to Housing and Development Board, the reason why the flats were resold and if HDB will think of granting such flats on its open booking process.

Midwood showflat

Sim documented that about one thousand of the submitted flats happen to be on short-term rental and comprises studio flats, 2 room Flexi units obtained during a quick rent and also public housing that homeowners took Lease Buyback Scheme.

” Homeowners of brief contract units who do not wished to retain their public housing or that had already gotten unsuitable to accomplish so, are obligated to submit their units to Housing and Development Board. These people are certainly not enabled to offer for sale them on the common market,” she mentioned.

The other 700 flats were submitted mainly due to revisions in the conditions of the owners in their MOP. These sorts of owners were not at all authorized to promote their Housing and Development Board units on the common market as these people had not even fulfilled their minimum stay duration.

” Among the most frequent reasons for cessation of units were divorce, split of fiancé-fiancée couples, as well as annulment of marital relationship,” pointed out Sim

Housing and Development Board compensates property owners of gave up public housing also resells these units thru the Sale of Balance Flat routines.

“If the flats stand untaken after the Sale of Balance Flat exercise, they may possibly after that be provided in the public reservation,” further mentioned Sim.

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