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National Development Minister Mah Bow Tan said the Housing Development Board (HDB) is reviewing its rules to stamp out speculation and illegal rental of flats. In doing so, HDB is looking to ensure that prices in the public housing market are not artificially inflated.
Addressing the recent concerns from the public about escalating HDB resale prices, Mr Mah said that this reviewing of rules will stress that HDB flats are for “owner-occupation, not speculation or rental investment.”
However, he repeated the Government’s stance that the resale market should be a free market where prices are met on a demand and supply basis.
While he did not mention specific rules being relooked, he said that the review will take a few months to complete.
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anonymous said...
There are lotsa middle income owners who paid fully for their HDB flats and bought another private property, likely a freehold fully paid as well. Most are enjoying life in the private property and renting out the entire fully paid HDB flats for side income. This may be a reason for lack of supply of subsidised flats. My guess is there is a sizeable number of people operating this way now. Is it illegal to do this?
February 12, 2010 3:28:00 PM
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