CNA said that the Housing and Development Board (HDB) changed the rule about the Minimum Occupation Period (MOP) for rebuild flats under SERS.
Under the new rules, people who buy replacement apartments can only sell them on the open market five years after they get the keys.
Before, they can decide to sell their house seven years after choosing the replacement flat or five years after getting the keys. This meant that some people could sell their HDB flats before they had lived there for five years.
The new rule is applicable to SERS sites that were announced on or after April 7 or to the Ang Mo Kio Drive latest SERS site.
Lee Sze Teck, at Huttons Asia, said that the new rule will “level the playing field for all HDB buyers.”
The latest SERS exercise affects more than 600 households in Ang Mo Kio, and some residents are unhappy that they have to pay up to $100,000 for a similar-sized unit on the resale market today. HDB is very interested in this.
