New PRs must wait 3 years before buying resale HDB flats

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SINGAPORE: Singapore tightening the rule more on HBD flats buying policy.Singapore permanent resident (SPR) households with no Singapore citizen owner will have to wait three years from the date of obtaining SPR status before they can buy a resale HDB flat.The maximum tenure for HDB housing loans will be reduced from 30 years to 25 years.

The change, with immediate effect, will force new Singapore PRs to have to wait 3 years before being able to buy a resale flat. In the past, PRs were able to buy resale flats as soon as they became a PR.According to statistics released by Khaw Boon Wan, there are currently around 51 000 HDB flats owned by PRs (or 6% of all HDBs). 

He also shared that this year, there were 130 flats sold by PRs within 3 years of their purchase, with another 320 sold within 4 years of purchase. A further 490 were sold by PRs within 5 years of their purchase.

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