LONGER PERIOD TO COMPLETE SALE OF HDB FLATS

Mr Yeo Guat Kwang asked the Minister for National Development whether he will consider allowing Housing and Development Board upgraders to have longer than the current 6-month period to complete the sale of their old flats in view of the weak sentiments in the property market.

Mr Lim Hng Kiang: A lessee who has collected the keys to his new HDB flat is given 6 months to sell his existing HDB flat in the open market. Generally, this is a sufficient period for the lessee to sell his existing flat.

However, if the lessee is unable to sell his existing flat within the 6 months due to justifiable reasons, HDB will consider extending the six-month period on a case-by-case basis.