Unless they continue to stay in their HDB unit despite owning
private properties, if not it makes good sense for them to release
their HDB (public) back for those who really need it.
It is fine if they purchase private property for investment
purpose but not way should authorities allow owners to rent out the
whole HDB unit to make MONEY!
I READ with interest the report ("Khaw shares
ideas to lower prices of HDB flats"; Monday), which said that about
40,000 entire HDB flats are being sublet, and that up to another
40,000 owners rent out rooms.
These are just the official figures. The real number is likely
to be higher as I know of people who do not seek permission from
the HDB to rent out their flats.
Recently, my mother-in-law wanted to buy an HDB flat near my
home, to help with our childcare arrangements. However, there was
no one willing to sell but several wanting to rent out their entire
flats.
I called an agent of such a flat and asked if the owner would
consider selling, but she said the owner was living in a private
condominium unit and wanted only to rent out the flat to make
money.
There are some HDB flat owners who have emigrated, but still
hold on to their units to earn rental income.
This reduces supply and drives up prices.
HDB flats are primarily for owner occupation and are not
investment assets.
The Ministry of National Development should consider disallowing
the renting out of flats, and tighten policing and supervision. It
should also review its policy of allowing people who own private
property to retain their HDB flats.
Marcus Wong Wee Kong
