Business @ AsiaOne

Needy will move to head of queue for HDB rental flats

Stricter rules being drawn up to prevent abuse of rental scheme. -ST

Sun, Aug 24, 2008
AsiaOne

Singaporeans in desperate need of a home will, from today, be moved to the front of the queue for HDB rental flats.
National Development Minister Mah Bow Tan announced this move yesterday and also gave a peek into new rules being studied to stop abuse of the rental scheme.

One of them is that the HDB will scrutinise the assets, including private property, of siblings and children of applicants to ensure they rely first on family, not on rental flats.Another will require flat sellers to deposit part of their sales proceeds into their Central Provident Fund (CPF) accounts.

These likely changes are part of a government move to address the sharp rise in demand for rental flats, with many people joining the queue even when they have other housing options.

For the full report, visit straitstimes.com

 

 
 
 
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