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MORE permanent residents (PRs) in Singapore are snapping up Housing Board (HDB) flats to beat rising rents.
Latest figures from local property agencies show that almost one in five HDB flats sold recently went to PRs.
Housing experts attribute this to a combination of rising rents and low interests rates as the driver of this demand.
The number of flats sold to this group is a two-fold increase from a year ago, when PRs bought up 10 to 15 per cent of homes sold, said PropNex chief executive Mohamed Ismail.
Read the full story in Saturday's edition of The Straits Times.
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