With the latest measures in-lieu of the Government’s way to deal with cooling down the property market, more new flats has been introduced into the supply pipeline which gives more choices to first-time home buyers.
The reason given for the Minimum Occupation Period (MOP) revision is to dampen HDB buying speculations. The measures as follow:-
- The MOP of non-subsidised flats for reslae and subletting of flat will be increased from three to five years.
- Buyers of non-subsidised flats will be disallowed from concurrently owning both an HDB flat and private residential property within the MOP. Private property owners who buy a non-subsidised HDB flat must now dispose of their private residential property within six month from the date of flat purchase. Ownership of private properties by HDB lesees will be allowed after the MOP