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Singapore
 

In a bind when new flat's ready but old one's still unsold

Some home buyers can't dispose of existing units, as required by HDB

Published on Jul 4, 2014 7:31 AM
 
Some home buyers can't dispose of existing units, as required by HDB. -- PHOTO: ST FILE

FOR Mr Balaji Lakshmanan, the four-year wait for his new Housing Board flat ended this week when he collected his keys. But another countdown began: to dispose of his existing flat, as required under HDB rules.

"I don't know if I can sell this house within six months," he said, referring to his three-room flat in Bukit Batok East.

He is part of an emerging group of home buyers caught between their newly ready Build-to-Order (BTO) flats and their old ones - which lack buyers in a sluggish market.

The 42-year-old manager has been trying to sell his old flat for half a year, with about 10 viewers but no offers so far.

 
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