Oral Answer by Ministry of National Development on six-month period to dispose of existing HDB flats

Mar 14, 2016

Mr Gan Thiam Poh: To ask the Minister for National Development 

(a) in the past one year, what is the number of requests received from HDB flat owners who have purchased a BTO/resale flat to extend the six-month period they have to dispose of their existing HDB flat; 

(b) what is the percentage of such requests against the total number of BTO/resale flat transactions for the same period; and 

(c) for the next three years, what is the projected number of such flats that need to be disposed. 

Answer: 

Existing flat owners who have collected the keys to another BTO/resale flat today will have up to 6 months, from the time of key collection, to dispose of their existing flat. HDB will assess requests for more time to sell off the existing flat based on the merits of each case.

Last year, HDB received 249 such requests for an extension of the 6-month period. During this same timeframe in 2015, there were some 41,400 households who bought BTO or resale flats. But if we were to only look at those who still owned a flat when they collected the keys to their new flat, then the number is 13,700. So if you look at the appeal cases of 249 over the base of 13,700, that works out to be something less than 2%.

Going forward, from 2016 to 2018, about 13,000 existing flat owners are expected to collect the keys to another BTO flat.  They will, as per the current rules, have to dispose of their existing flats within 6 months from the time of key collection. If there are requests for an extension of time, HDB will be prepared to exercise flexibility on a case by case basis.

Issued by: Ministry of National Development
Date         : 14 March 2016