Updated: 07/22/2014 20:45

HDB will allow sellers to stay in their sold flats temporarily for up to three months



HDB will allow sellers to stay in their sold flats temporarily for up to three months

Minister for National Development Khaw Boon Wan says HDB will allow sellers to stay in their sold flats temporarily for up to three months. 

But the arrangement should be privately negotiated and agreed upon between the buyer and seller, and be submitted together with the resale application. 

If the buyer agrees with the seller's request for such a temporary arrangement, HDB will have no objection. 

Mr Khaw says HDB decided that a three-month period should be sufficient time for flat sellers to complete the purchase of their next home, or make the necessary arrangements to shift into their next home. 

HDB estimates that some 15% of total resale transactions, or about 2,700 households a year, will benefit from this policy tweak. 

Mr Khaw says, previously, many sellers were put in a difficult situation because they were expected to move out as soon as the resale transaction had been completed.

Latest Photo Galleries on xinmsn

NEWS VIDEOS