Updated: 07/22/2014 22:35

PropNex calls HDB policy tweak welcomed move

PropNex calls HDB policy tweak welcomed move

Property agency, PropNex, has described HDB's policy tweak for resale flats a welcomed move and long long overdue. 

It says it facilitates a smoother transition in the sale and purchase of HDB flats. 

The tweak allows sellers to negotiate with their buyers for a temporary extension of stay in their flats by up to three months. 

Prior to this policy tweak, CEO of PropNex Realy, Mohd Ismail says many buyers and sellers and property agents were taking the risk of mutually agreeing to such an arrangement that was not legally recognized. 

In addition, it was also almost impossible for many who were buying and selling a home simultaneously to move out of their current home to their new home on the same day. 

He says this tweak may encourage some to consider upgrading. 

However, PropNex does not expect any major impact on HDB resale prices.

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