Allow flexibility on 10-year minimum occupation period for homeowners with sufficient deterrents
Needs and financial circumstances of owners of HDB Plus and Prime flats and new EC units can change
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[SINGAPORE] Increasingly, homebuyers have to get comfortable committing to holding their units for at least 10 years.
For new and resale Housing & Development Board (HDB) Plus and Prime flats, which, according to HDB, are in “choicer and choicest locations”, respectively, the minimum occupation period (MOP) is 10 years.
The MOP for Standard and unclassified flats is five years. During the MOP, the owner cannot sell the flat or buy private residential property, among other rules.
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