18th February, Monday
Residential
More holding on to their HDB flats Source: The Straits Times A higher percentage of home owners are holding on to their Housing Board flats, reversing a trend that had been rising in the past four years. According to data from the Housing Board Friday, the percentage of home owners who sold their property within the year after it hit the five-year minimum occupation period (MOP) was 11.8 per cent last year. It had been climbing steadily, from 4.3 per cent in 2008 to 18.3 per cent in 2011. These figures are for flats bought directly from the HDB. Property analysts say the drop can be attributed to various factors, chief among them being sky-high private property prices that deter HDB upgraders, and restrictions incurred after selling a flat. In tandem, the number of flats being sublet out also dipped last year, according to the HDB. Some 3.1 per cent of home owners let out their flats last year, compared with 4.8 per cent in the year before.
Link to the story: http://www.straitstimes.com/st/print/840241
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