Singapore
WHEN certain HDB flats in the Dawson and Boon Tiong area completed their five-year minimum occupation period (MOP) this year, some owners unloaded them on the resale market for a startling 60-70 per cent gain.
Of course, not all HDB flats can fetch that kind of profits, but such deals, among other factors, are raising concerns about the affordability of resale public housing units in prime locations.
The subject was brought into focus this week when National Development Minister Desmond Lee acknowledged the "lottery effect" of HDB flats in prime areas, which may result in a "likely windfall" for those who sell government-subsidised build-to-order (BTO) flats on the resale market.
In the...