Sale of HDB Flats upon Full Settlement of Mortgage

Mr Gan Thiam Poh asked the Minister for National Development among the HDB flat owners who have fully paid up their HDB loan for their first flat, in the last 10 years (a) how many did not sell the flat upon full settlement of the loan; and (b) how many have sold the flat and upgraded to a larger flat or private property before reaching the ages of 40, 45, 50 and 55 respectively, and what is the percentage of such owners relative to the total number of HDB flat owners.

Mr Khaw Boon Wan: Between 2005 and 2014, 59,100 first-time HDB flat owners fully paid up their HDB loans. Among them, about 50,000 (85%) continued to own their flats.

Another 5% sold their flat and moved to a larger flat or private property before the age of 55. 1,100 did so before the age of 40, 800 between 40 and 44, 500 between 45 and 49, and 200 between 50 and 54.