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HDB housing – wider rental options may work better for some than home ownership
It’s time to take the stigma out of renting as some singles and seniors may find rent-to-own models and long-term secure rentals more practical.
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HDB policies now prioritise and promote home ownership, and the official policy is to help rental flat tenants move from renting to owning.
ST PHOTO: KUA CHEE SIONG
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National Development Minister Desmond Lee’s recent comments about singles’ need for housing,
Speaking at a Forward Singapore conversation on housing for singles and second-time home buyers, Mr Lee said that the series of conversations had reached 16,000 Singaporeans from all walks of life, who had given their views on their housing needs and aspirations. Summing up these conversations, he said: “While home ownership aspirations were strong, some singles told us they may wish to rent for a start. Sometimes for flexibility, sometimes because of financial reasons. So, some ideas that participants have tossed up include some variant of ‘rent-to-own’ models, as well as the possibility of buying flats sold with shorter leases.”
