Proposed housing curbs won't affect current owners: Khaw
By Romesh Navaratnarajah:National Development Minister Khaw Boon Wan clarified in his latest blog post today that regulations on public housing to make flats more affordable in future will apply to new buyers and not current homeowners.
His statement was made in response to concerns from a Queenstown resident who was worried the Minister might put an end to resale flats being sold in the open market – in reference to his speech in Parliament that there had been many calls for HDB to "return to basics", for example to "return to the past when flats could only be sold to HDB, and not in the open market".
The resident informed Mr Khaw that she had paid for a three-room flat which she intends to sell for a "sizeable sum" in a few years for her retirement fund. She added that the news she heard may squash her dream.
Looking to reassure her, Mr Khaw explained that the "no resale in the open market" proposal was simply one of the suggested restrictions on possible new housing options that are cheaper than today's Build-To-Order (BTO) flats. Other restrictions proposed by MPs included longer minimum occupation period and shorter lease. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg Related Stories: 60000 public rental flats to be pushed out
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