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Mon, Aug 18, 2008
AsiaOne
Lease buy-back sceme to be implemented next year

In his 2008 National Day Rally speech, Prime Minister Lee Hsien Loong said that one worrying trend in the bulk of cases MPs receive is how more and more people are looking for HDB rental flats.

While HDB is building more rental flats, they will look into the applications, as not all those who apply are truly needy.

"There are various ways they can solve their problems but I think we have to manage this rental flat problem and MND & HDB will be reviewing the scheme for rental flats so that we can keep it an effective safety net for the people who need this."

He adds, "They can rent out a room, they can even rent out the whole flat, move in with their children. We are going to have the lease buy-back scheme for the two-rooms & 3-room flats which is going to be implemented next year. Or they could sell their flat & move into a smaller flat, or move into a studio apartment, also with a short lease & therefore free up some money."


 

 
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