News

HDB Eases Subletting Policy 
Posted on Monday, March 05, 2007 - 12:00 AM

The government is relaxing the HDB's sub-letting policy which will see some 645,000 flats immediately eligible for sub-letting. The changes were announced by Minister for National Development, Mah Bow Tan, in Parliament on Saturday, 3 March 2007.

Currently, home owners must stay in their flats for 5 or 10 years before they can sub-let their units, depending on whether they have existing HDB loans. Effective immediately, the Minimum Occupation Period will be cut to 5 years for a subsidised flat and 3 years for non-subsidised ones.