WITH the relaxation of Housing Board restrictions over the years, it has become easier for a savvy Singaporean to make a relatively quick buck from buying a flat.
Since 2007, an owner need live in his flat for only three years before he can rent it out, if the flat was bought without a housing grant or subsidy.
For someone who enjoyed a subsidy or a grant, it is five years.
It is therefore no surprise to hear of people with investment acumen snapping up flats even if they already own private property, with an eye on the potential rent they can earn.
It is no small sum. Three-room flats in Toa Payoh fetched a median rent of $1,500 a month in the April to June period. Continue reading
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