Review rules for inherited HDB flats from parents

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Review rules for inherited HDB flats from parents

Post by mr_yang on 3rd January 2016, 9:15 am

The Housing and Development Board (HDB) should review its rules for the inheritance of flats. In line with market cooling measures in 2010, private property owners are not allowed to inherit subsidised flats within the Minimum Occupation Period (MOP).

Even if the proposed owner sells his private property upon execution of the will, he would still be debarred for 30 months. While such a measure was necessary at the time to ensure that new couples could buy and afford their first home, it affects one’s ability to leave a legacy to one’s children.

As the intended effect of cooling the market has been achieved, maybe it is time to lift this measure (“HDB resale market stabilising, analysts say”; Dec 4).

The Government and Singaporeans have always considered an HDB flat a key asset, and the largest asset many will ever own.

While I understand the need for equitable distribution of subsidised housing, one of the HDB’s original aims was to provide financial security for Singaporeans.

The death of one’s parents is a sorrowful affair; that they should die within the MOP is outside anyone’s control. Should they be penalised by preventing the transfer of their financial blessings, or should their children, for having achieved the upward mobility all governments desire for their citizens?

Similarly, the HDB should consider allowing owners of an existing flat to inherit another. This is also a financial blessing from parents to their children and a boost in upward mobility.

The children may attach sentimental value to both the flat they grew up in and the one in which they are raising their own children. Having to choose between them would be cruel. As many such flats are in mature estates, the HDB should exclude these owners from any en-bloc redevelopment scheme to minimise the effect on housing availability.
http://www.todayonline.com/voices/review-rules-inherited-hdb-flats-parents
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Re: Review rules for inherited HDB flats from parents

Post by Whisper on 3rd January 2016, 9:25 am

Want the flat just say lah.
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Re: Review rules for inherited HDB flats from parents

Post by satayxp on 3rd January 2016, 9:27 am

when 1k salary can buy hdb, wat upward mobility is he talking abt?
lol
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Re: Review rules for inherited HDB flats from parents

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