25 Aug '15, 2am

New: Singapore Property News This Week #222

The elderly will have more flexibility with the new flexi scheme for the sale of two-room HDB flats. Under the new scheme, elderly buyers have short-lease options ranging from 15 to 45 years, instead of a fixed 30-year lease option as before. The purchase of these flats must be financed through cash or CPF savings. Subletting and resale are not allowed. By barring the sale of two-room flats with short leases on the open market, the buyer will not be able to enjoy the possible capital appreciation from the flat in future. This ensures that HDB flats function as homes and not investment assets. Mohamed Ismail from PropNex said that the greatest benefit of the scheme is that it allows seniors to commit to a purchase of a two-room flat and unlock more cash from the sale of their existing flat. According to HDB, in the next five years, more than 70 BTO projects across Singapore...

Full article: http://www.propwise.sg/singapore-property-news-this-week-...

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