Three-year waiting period for PRs to buy resale flats

Bedok South HDB estate at dusk on June 2, 2013. Newly-minted Singapore permanent residents will now have to wait three years before buying a resale public flat, instead of straightaway after they become PRs. -- ST FILE PHOTO: JAMIE KOH
Bedok South HDB estate at dusk on June 2, 2013. Newly-minted Singapore permanent residents will now have to wait three years before buying a resale public flat, instead of straightaway after they become PRs. -- ST FILE PHOTO: JAMIE KOH

Newly-minted Singapore permanent residents will now have to wait three years before buying a resale public flat, instead of straightaway after they become PRs.

The change, announced by National Development Minister Khaw Boon Wan, applies to resale applications received on or after 5.30pm on Tuesday.

There were 51,000 Housing Board flats fully owned by permanent residents as of end June, representing 6 per cent of all HDB flats, said Mr Khaw in a written parliamentary reply this month.

This year, 130 flats were sold by PRs within three years of their purchase, while 320 were sold within four years of purchase, and 490 within five years.