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HDB flats should not be used to make money

It may be timely to review the fundamental principle of public housing and make tweaks to it, such that it is solely for owner occupation (Tendering out plots with 60-year lease may be the way to go; June 17).

Housing Board flats are heavily subsidised by taxpayers. For a start, the Government should review the policy of allowing owners of HDB flats to rent out the entire unit.

As it is, some owners of HDB flats move into private properties after fulfilling the minimum occupation period, and then rent out their flats.

Another measure should be implemented to mitigate the lottery effect, where owners lucky enough to get desirable flats reap heavy windfalls when they sell.

The Government previously said it was looking into this, but there has not been any update thus far.

Singaporeans must be mindful that HDB flats are for owner occupation and should not be instruments to make money.

Lee Yong Se

A version of this article appeared in the print edition of The Sunday Times on June 24, 2018, with the headline 'HDB flats should not be used to make money'. Subscribe