While house-hunting in the HDB resale market recently, I came across a number of permanent residents (PRs) who were selling their flats as they were returning to their home countries or emigrating to other countries.
A few property agents have told me they are seeing more PRs doing so.
This brings me to question the true intent of some PRs when they buy HDB flats.
Clearly, they stand to make hefty capital gains from selling their flats. Some become “instant millionaires” when they return home, especially to developing countries, after working in Singapore for several years. Full story
