HDB Resale Suggestions

Recently, I saw a few letters on the Straits Time Forum regarding the sale of HDB Resale. Writers had been commenting about the following:

  1. Disallow PR from the resale market
  2. Relook on owners having both HDB and Private properties but staying in private and renting out HDB

Here are my two cents worth:

PRs will need a place to stay. They will have to either rent or buy, simple as that. In order for the PRs to sink roots in Singapore, allowing them to buy resale HDB is an incentive. I do not believe most PRs (80/20 rule) are able to afford private housing. And seriously, rather than pay rent to the landlords and help them to pay off their bank loan, one should always aim to purchase their own home. BTOs are for citizens (and rightly so) and thus PRs only have 2 choices, HDB resale or private. Let’s cut them some slack.

I think the Government has been pretty clear on HDB flats, they are not for investments. However, why did the Government not clamp down on owners having both HDB and private properties? Personally, I do believe the HDB price will definitely come down if this ruling is being implemented.

In my opinion, the Government is allowing this due to the rental market. Not everyone (be them citizens or PRs) can afford to rent private properties. By allowing this small group of people to lease out their flats, the rental demand can be met…somehow.

It’s a fine balancing act by the Government. Running Singapore is not like playing Sim City, we cannot afford to reset.

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