Housing policies for PRs unlikely to change


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11/08/2014

In the last ten years, around 2,300 to 3,500 HDB units were sold by Singapore Permanent Resident (SPR) households in the resale market each year.

The Ministry of National Development (MND) revealed this following a written query at yesterday’s parliament session.

Singapore’s public housing policies include significant differentiation between Singapore Citizen (SC) and SPR households. For example, SPR households are not eligible to buy a subsidised new HDB flat and do not receive any housing grants when buying a resale HDB flat.

SPR households have to pay a five percent Additional Buyer’s Stamp Duty (ABSD) when buying their first residential property. They also have to wait three years from the date of obtaining their SPR status before they can buy a HDB resale flat.

Additionally, SPR households cannot sublet their whole HDB flat and will need to sell their HDB flat within six months of buying a private residential property in Singapore.

MND says there are no plans to add more measures to differentiate public housing rules for citizens and SPRs at the moment.

Source copied from: http://www.propertyguru.com.sg/property-management-news/2014/8/38275/housing-policies-for-prs-unlikely-to-change