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10 Feb 2019
Housing Development Board
Suggestion View - 353
Allow private property owner to buy HDB flats

The current government policy allows an eligible person to buy a HDB flat and after occupying the flat for five years, to buy a private property.
The HDB owner can rent out the private property to enjoy a rental income while continuing to live in the HDB flat. He is allowed to own a HDB flat and a private property at the same time.

However, an owner of a private property does not have any opportunity to own an HDB flat.

I suggest that the government policy be revised to rate the private property owner fairly and put him in the same footing as the HDB owner.

a)        Allow Singapore-born citizens aged 55 or older who have never owned a HDB, to apply for new HDB BTO or buy resale HDB without giving up their private property, which they must have lived in for at least 10 years.

b)        Upon receiving their keys, they must move in immediately to occupy their BTO/Resale HDB flat. Their private property can then be rented out for passive income in retirement
If this new policy is implemented, our public housing estates will be more vibrant and dynamic, where people of different income and social strata interact and integrate in their neighborhood

Private home owners have worked hard and contributed to nation building by paying income taxes higher than the average citizens. They should be offered equal opportunity in their retirement to choose to live in public housing.
This will give them the option of staying and spending in Singapore, instead of uprooting to live in neighboring countries where the lower cost of living allows them to stretch their dwindling dollars.

John Lim

Agree: 11  Disagree: 10  Vote  Comment (0)