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Singapore vacant HDB flats resold at a high price causing controversy!
Singapore vacant HDB flats resold at a high price causing controversy! Singapore
By   Internet
  • City News
  • HDB Flats for Sale
  • HDB Resale
  • HDB Restrictions
Abstract: A few days ago a Singaporean homeowner bought a new HDB flat for 8 years and sold it online in its original packaging sparking a hot debate.

According to a HDB spokesperson, in order to ensure that there are no irregularities such as illegal renting of HDB flats, the authorities conduct about 500 spot checks every month and will not hesitate to take enforcement action against any irregularities.

 

From 2017 to November 2022, a total of 53 HDB flat owners were fined by the HDB for not personally occupying their HDB flats themselves at all during the minimum residence period.

 

Twenty-one of the flats were forcibly repossessed, while the rest of the owners were given written warnings or fined.

 

Not long ago, a set of HDB rough housing was surprisingly found online, this set of 5-room flats in Yishun, completed in 2014, 8 years ago, but look at the pictures, what kind of housing was delivered then, what kind of housing is now. The landlord has not lived in it at all.

 

This illegal sale of resale HDB flats has sparked a hot debate on the internet.

 

In response, HDB also said it noticed that there are vacant pre-purchased HDB flats for sale in the open market, and HDB has already started an investigation.

 

In addition, if HDB receives a report involving irregularities, it will investigate thoroughly and HDB will not hesitate to take enforcement action against any irregularities.

 

According to the regulations, after purchasing a HDB flat from HDB, the purchaser is required to meet a minimum residence period of five years before reselling it, or ten years for HDB flats in prime locations.

 

During the minimum residence period, the owner cannot sell or rent out the entire flat or invest in private housing, whether purchased directly from HDB or through the resale market.

 

Failure to comply may result in a fine of up to S$50,000 or a written warning. The repossessed flats will be classified as surplus HDB flats and open for other home buyers to apply.

 

HDB's enforcement process is not completely impersonal. Generally, during the HDB resale process, HDB will send someone to inspect the resale application upon receipt, and will conduct an in-depth investigation if there is any sign of unoccupancy.

 

However, there are always some special cases, such as financial difficulties before the owner has completed the minimum residence period, divorce or death of the owner.

In these individual cases, HDB will decide whether to approve the resale application on a case-by-case basis.

 

In addition, HDB reminds that it is the responsibility of the real estate agent to ensure that the content of the advertisement is accurate, truthful and legal, including advising customers not to violate the law and not to place false or misleading advertisements.

 

Real estate agents who violate the code of ethics and the code of professional conduct of the Real Estate Agents Council may face disciplinary action.

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Singapore vacant HDB flats resold at a high price causing controversy!
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