SINGAPORE, July 11 (Xinhua) -- Singapore's Housing and Development Board (HDB) announced Wednesday that it will tighten the policies for permanent residents (PRs) who apply to sublet their public flat, aiming at reinforcing the policy intent of providing HDB flats as homes to the PRs, and to deter those who are buying the flats for rental yield or investment.
The policies, effective immediately, include a cut of flat subletting approved period, from previous three years to one year, which means that once the one-year period expires, the applicants will need to extend the approval. The HDB also said the renewal will be assessed on a case-by-case basis, and approval will be granted only if there are extenuating reasons. Full story
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HDB pushes out new rules on PRs subletting - Yahoo! News Singapore
