Market largely unaffected by HDB subletting caps
Only about 1% of HDB areas have reached foreign tenant quota limits
Published on Jun 16, 2014 6:37 AM
Six months after the start of quotas on subletting public flats to foreigners, the fear that they would hurt the rental market does not seem to have come true.
As of June, only about 1 per cent of Housing Board neighbourhoods and blocks have reached the quota limits, the HDB told The Straits Times.
This is about the same proportion initially affected when the quota kicked in this January.
Since then, only 8 per cent of the flats in a neighbourhood or 11 per cent of the flats in a block can be wholly sublet to permanent residents or foreigners. This does not apply to subletting of rooms.
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BUSINESS AS USUAL
(The change) hasn't really affected things much... So far, the cases I've handled are still within the quota.
- PropNex agent Calvin Ng, who has rented out several flats in the west