Even in the current market conditions, the government is unlikely to extend the period a HDB home owner is required to sell off his or her existing flat.
In a written answer to a query in Parliament yesterday, the Ministry of National Development (MND) said, “The six-month period is generally sufficient for flat owners to arrange for the sale of their existing flat, as they renovate their new flats and move in. This is especially if they start planning once they book a new flat.”
For flat owners who need more time to sell their flats due to special circumstances, HDB will assess each request based on the merits of the case.
In reply to another query on Service & Conservancy Charges (S & CC), MND said owners of new Build-to-Order (BTO) flats will begin paying the S &CC to their Town Councils from the day they complete their flat purchase and collect the keys to their new flat. “This is because this is the date that they assume complete ownership of the flat. Prior to key collection, HDB pays for the S & CC for the vacant completed units.”
In addition, Town Councils are empowered to vary the S & CC from time to time, or remit or refund the charges in whole or in part.
“Town Councils can decide if the S & CC can be waived or reduced during the period when the flat remains unoccupied. However, if the Town Council does so, residents of occupied flats would effectively be subsidising the unoccupied flats.”
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email firstname.lastname@example.org