Data on Flats Repossessed by HDB due to Failure to Pay Mortgages

Ms Mariam Jaafar asked the Minister for National Development (a) for each year from 2020 till to-date, how many flats have been repossessed by HDB; (b) what proportion of these repossessed flats is due to failure to pay mortgages; and (c) what proportion of these repossessed flats has been listed for sale or sold.

Mr Desmond Lee: From January 2020 to June 2022, 203 HDB flats were compulsorily acquired (see Table 1 for annual breakdown). Of these, 82% were acquired due to mortgage arrears. In these cases, compulsory acquisition was taken as a last resort as the owners persistently refused to resolve their arrears or work towards a sustainable solution, despite the assistance given by HDB.

Of the 203 acquired flats, 91% have since been offered for sale in HDB's Sale of Balance Flats exercises, and the remainder will be offered in future exercises.