20 Sep '13, 11am

HDB to ramp up rental flat supply - Property Auctions News, Property Investment | PropertyGuru

To cater to the growing demand, HDB will increase its supply of rental units from the current stock of 50,000 to 60,000 flats by 2017. However, less than 50 percent of those applying for rental flats are eligible, according to Minister of State for National Development Maliki Osman. In 2011 alone, 13,700 of the 23,900 rental applicants did not qualify as they had family support or were able to purchase a small flat. Nevertheless, he assured Singaporeans that the housing board will extend help to those truly in need. It will also exercise flexibility on the eligibility criteria in cases of genuine hardship, he stated in a recent reply to Mr Zainal Sapari, (Pasir Ris-Punggol GRC). In 2011 and 2012, 630 families staying in rental flats were able to move to HDB units that they had acquired, Dr Maliki added. He noted that the government provides low-income families with grants ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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