We refer to the letter “Loosen HDB rules for seniors living in private homes” (May 3) by Mr Ng Eng Hin. We understand Mr Ng’s intention is to monetise his current private property for his retirement needs.
New Housing and Development Board (HDB) flats are highly subsidised and meant for those who meet certain criteria, such as families who neither own private properties nor exceed a set income ceiling.
To ensure that ex-private property owners do not compete with those households who have more pressing housing needs, they are allowed to buy subsidised public housing only 30 months after selling off their private property.
Besides buying a new flat from the HDB, there are other public housing options available to Mr Ng should he wish to sell off his private property and move to an HDB flat.
He could consider buying a resale HDB flat or a studio apartment with the substantial proceeds received, without having to wait 30 months.
LILY CHAN-WONG JEE CHOO, DIRECTOR (POLICY AND PROPERTY), HOUSING AND DEVELOPMENT BOARD
Source – Today – 8 May 2013