Owners of HDB flats with remaining lease less than 60 years find it difficult to sell their flats. The new buyer is not able to get a bank loan or to use CPF to pay for these flats, with a few exceptions.
A possible solution is to allow CPF to be used to pay for HDB flats that are less than 60 years, but longer than 30 years.
I asked this question in the Wisdom of the Crowd - Should the government allow CPF to be used for leases of at least 30 years?
51% of the respondents supported this move as it would free up the market for old HDB flat. 20% said that all leasehold properties are depleting assets as it is a matter of degree.
A total of 71% support this change in policy.
The remaining 29% are against this change for two reasons - they said that CPF should not be used for a depleting asset and they said that the HDB flat prices should be allowed to drop sharply to attract buyers.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=597
A possible solution is to allow CPF to be used to pay for HDB flats that are less than 60 years, but longer than 30 years.
I asked this question in the Wisdom of the Crowd - Should the government allow CPF to be used for leases of at least 30 years?
51% of the respondents supported this move as it would free up the market for old HDB flat. 20% said that all leasehold properties are depleting assets as it is a matter of degree.
A total of 71% support this change in policy.
The remaining 29% are against this change for two reasons - they said that CPF should not be used for a depleting asset and they said that the HDB flat prices should be allowed to drop sharply to attract buyers.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=597
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