25 Jul '14, 4am

Expect cooling measures to remain for the long-run. Read this & other news in the latest edition of Week in Review

Expect cooling measures to remain for the long-run. Read this & other news in the latest edition of Week in Review

HDB has announced that flat sellers can now come to an agreement with their buyers to allow the former to continue staying in their homes for up to three months after completion of the sale. According to a blog post by Minister of National Development, Mr Khaw Boon Wan, this is intended to give sellers “sufficient time” to buy their next home, as “some do not have their homes to move into as they may not yet be ready (as) renovation is in progress, (and) others may first need funds from the sale of their current flat before they can complete the purchase of their next home”. With the new policy, about 2,700 households (representing 15 per cent of all resale transactions) could benefit from the extended stay. Mr Eugene Lim, Key Executive Officer at ERA, told TODAY “it is something the market has been pushing for some time, and it is certainly a relief that we now ...

Full article: http://www.iproperty.com.sg/news/9008/Week-in-Review---24...

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