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Govt announces new property cooling measures (Today Online)
From tomorrow, new measures to cool the private and public housing markets will take effect.
The measures include tighter eligibility for loans to buy HDB flats, Permanent Residents (PRs) who own a HDB flat will be disallowed from subletting their whole flat, and they must sell their HDB flat within six months of purchasing a private residential property in Singapore.
The changes are meant to further moderate the demand for HDB flats, instil greater financial prudence among buyers, and require owner occupation by PR buyers, said the Ministry of Finance, Ministry of National Development, Monetary Authority of Singapore and Ministry of Trade & Industry in a joint statement