There had been recent rants by netizens on how our dearest foreign talents have been taking up jobs, and then settling down, and then having kids (yeah! achieve government’s goals) and finally decide that – hey, why don’t they settle down in Singapore as well. If I were the government, I may be extremely happy because it does seem like a plausible solution to an aging population in Singapore. Retaining them is of course another problem which… I am not prepared to look into yet. =)

Personally, I know 2 siblings who studied in Singapore for quite a while and they finally got their Permanent Residency (PR). They got their parents over (on some pass) and were thinking of getting their own flats. I was a little surprised because, if I am not wrong, singles under the age of 35 are not allowed to own HDB flats (government built apartments). At least that was true for Singaporeans. What follows is a whole chain of speculation and may not be substantial at all.

We (a few of us) guess that the only situation that allows unmarried siblings under the age of 35 to own any HDB flat is when their parents pass away. Of course, there may be 101 other clauses that allows them to own flats, but let’s just take a simplistic view first. The 2 siblings I know are definitely not at or over the age of 35 and their parents are still around – so what makes it so special?

Then we speculated (again) that it could be because they do not have Singaporean parents (Singapore Citizens or PRs), they could be deemed to be in the same scenario as Singaporean siblings whose parents are no longer around (we are not sure if migrated parents count – but it would seem a little weird that parents do not bring their kids along; unless of course you are talking about male children who have to serve compulsory National Service). Of course, at the end of the day, it might just be a single clause that simply allow PRs under the age of 35 to own HDB flats, but we were just trying to get the rationale of it.

So, does it mean that if the parents of the 2 siblings are Singapore PRs, they would not be able to own HDB flats? I am actually not sure, but I think it is highly probable. I am not good with HDB purchases, but does anyone here have any first hand experience on this?

We may not be totally accurate on the rationale part, but don’t you think we deserve a vote today? =P

More HDB homes sold to PRs

By Jessica Cheam

MORE permanent residents (PRs) in Singapore are snapping up Housing Board (HDB) flats to beat rising rents.

Latest figures from local property agencies show that almost one in five HDB flats sold recently went to PRs.

Housing experts attribute this to a combination of rising rents and low interests rates as the driver of this demand.

The number of flats sold to this group is a two-fold increase from a year ago, when PRs bought up 10 to 15 per cent of homes sold, said PropNex chief executive Mohamed Ismail.

Source: Straits Times Interactive, http://www.straitstimes.com/Latest%2BNews/Singapore/STIStory_254529.html

Article extracted on 4th July 2008



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