Has HDB changed its housing ruling recently????

I have just read today's Sunday Times and the article from the Invest section caught me by surprise. When did HDB changed this ruling ? I thought when one owns a HDB Unit, one cannot owned a private apartment. When I bought my private apartment many moons ago, HDB sent me a letter informing me that I must sell off my HDB Unit within 6 months. Has this ruling being taken off now? Can some experts here comment on this . Thanks.

titu

PS In the article "me and my money" there was this guy who onwed a HDB 5 rooms apartment and also lots of private properties.

It could be the timing issue. If u already owned private with hdb b4 The new rule was effective, it is acceptable..

hillgreen wrote:

It could be the timing issue. If u already owned private with hdb b4 The new rule was effective, it is acceptable..

Hi Hillview, whats the new rule? Could you just roughly elaborate the new rule? Thanks bro

Roughly...The rule that one cannot own a hdb flat n later go purchase private apt. Coz the rationale is that hdb flat is heavily subsidised n thus if one owns private apt, govt came up with this rule few years ago. But if b4 this rule, already owns several private apt with hdb then ok.

Hope this is clearer.. I dun hv the effective date off hand but should b able to search from he web.. Aiyo, now our property mkt very controlled.. Good n bad in certain ways...

This rule was effective Aug 2010.. if u already own a hdb and private at same time b4 this ruling came u dun hv to sell ur hdb. Can keep..

Begbie wrote:

This rule was effective Aug 2010.. if u already own a hdb and private at same time b4 this ruling came u dun hv to sell ur hdb. Can keep..

Hi Begbie, how to own a hdb and private at the same time? Only one can come first right? Guess it must be after 2010 if you owned a hdb, you can buy private ones without having to sell your hdb. I bought my private in 1988 and was told to liquidate my hdb within the timing of 6 months.
Since hdb was built for the lower income group, I don't think its right to allow the hdb owners to buy private and can still keep their hdb. So does it mean that I can go and buy a hdb flat on the resale market now and rent out my private?

Tituman wrote:

Begbie wrote:

This rule was effective Aug 2010.. if u already own a hdb and private at same time b4 this ruling came u dun hv to sell ur hdb. Can keep..

Hi Begbie, how to own a hdb and private at the same time? Only one can come first right? Guess it must be after 2010 if you owned a hdb, you can buy private ones without having to sell your hdb. I bought my private in 1988 and was told to liquidate my hdb within the timing of 6 months.
Since hdb was built for the lower income group, I don't think its right to allow the hdb owners to buy private and can still keep their hdb. So does it mean that I can go and buy a hdb flat on the resale market now and rent out my private?

The ruling only affects for purchases after Aug 2010. If u already own a hdb before and at same time u own a private, ur not affected.

Or if u own a private pre 2010 and now u choose to purchase a hdb after 2010 then u hv to liquidate ur private.

Did u just recently purchased ur hdb ? If its so they will make u liquidate

Begbie wrote:

Or if u own a private pre 2010 and now u choose to purchase a hdb after 2010 then u hv to liquidate ur private.

Did u just recently purchased ur hdb ? If its so they will make u liquidate

No I owned my hdb before 1988 and purchased my private later. Was told to sell off hdb after my purchased of the private.

So let me get this correct titu

1. U bought ur private after 1988 (is it after Aug 2010 )
2. hDB pre 1988.

Now told to liquidate ?

Begbie wrote:

So let me get this correct titu

1. U bought ur private after 1988 (is it after Aug 2010 )
2. hDB pre 1988.

Now told to liquidate ?

Sorry Begbie, I actually bought my private in 1988 and my hdb was transferred to my name by my mom in maybe 1980 haha.

Then it shouldn't hv affected u coz everything is done and dealt before 2010. Not sure why they make u liquidate... If u hv to many of us will need the same...

I bought my private corner house in 1988, later HDB changed ruling,
you own HDB and can buy private but you must lived in HDB flat.


Our gahmen frequently change ruling faster than Malaysia, I am at the lost
now!

I though the recent ruling even you own house in other country you must
sell them! Only can own ONE HDB!

Begbie wrote:

Then it shouldn't hv affected u coz everything is done and dealt before 2010. Not sure why they make u liquidate... If u hv to many of us will need the same...

Thats my case. Thats why I curious now why they asked me to sell last time.

choco aka Dr.Spin aka Dr.Lup !!!!!!!

can you explain?

Well, some answers were already provided by some forummers here. Exact date of new ruling is 31 aug 2010.

Now u mentioned that ur private n hdn were owned by u in the 80s. Then u shoulntd be asked to sell ur properties.

Anyway. I have just roughly glanced tbrough the posting above. At the range now. If u need any more assistance. pls pm me la. See if i can help.

And yes too, hdb rulings are sometimes pretty complicated.

N thanks duval. I thot got chun chio bur photos. :-)

chocoman wrote:

Well, some answers were already provided by some forummers here. Exact date of new ruling is 31 aug 2010.

Now u mentioned that ur private n hdn were owned by u in the 80s. Then u shoulntd be asked to sell ur properties.

Anyway. I have just roughly glanced tbrough the posting above. At the range now. If u need any more assistance. pls pm me la. See if i can help.

And yes too, hdb rulings are sometimes pretty complicated.

N thanks duval. I thot got chun chio bur photos. :-)

Taukeh... long time no see. How's the property market like now?

chocoman wrote:

Well, some answers were already provided by some forummers here. Exact date of new ruling is 31 aug 2010.

Now u mentioned that ur private n hdn were owned by u in the 80s. Then u shoulntd be asked to sell ur properties.

Anyway. I have just roughly glanced tbrough the posting above. At the range now. If u need any more assistance. pls pm me la. See if i can help.

And yes too, hdb rulings are sometimes pretty complicated.

N thanks duval. I thot got chun chio bur photos. :-)

Yes my hdb flat was transferred to me in early 80s from my mum. Then in 1988 i bought a private apartment. Received a letter from hdb informing me that i must sell my hdb within 6 months. Darn it. Sold it for just $44k. Now the same unit worth over $360k....sigh.

When did you receive the letter from HDB asking you to sell your pte? In the 80s?

Tituman,

Your case was in the late 80s.
HDB rules has changed many time since 1988.

motokah wrote:

Tituman,

Your case was in the late 80s.
HDB rules has changed many time since 1988.

Yah we know they are now worse than Malaysia.

I bought my HDB in 2007 for $245,000 for a 4-room flat in Bedok. Now one can only dream of getting at that price....

So govt have to come out with many new schemes to control market.... then out of the blue got DBSS selling for $820,000... I'm sure many can afford that now... geared at 40yr mortgage loan..

I pity those folks who're just getting married and abt to look for a place.

Two words, tough luck....

Tituman wrote:

hillgreen wrote:

It could be the timing issue. If u already owned private with hdb b4 The new rule was effective, it is acceptable..

Hi Hillview, whats the new rule? Could you just roughly elaborate the new rule? Thanks bro

Lau Titu, it's hillgreen and not hillview lah. your eyesight getting from bad to worst ah?

nutty88 wrote:

Tituman wrote:

hillgreen wrote:

It could be the timing issue. If u already owned private with hdb b4 The new rule was effective, it is acceptable..

Hi Hillview, whats the new rule? Could you just roughly elaborate the new rule? Thanks bro

Lau Titu, it's hillgreen and not hillview lah. your eyesight getting from bad to worst ah?

Wahahahhah .... aiyoh...sori sori sori. My blood clot in the brain must have blocked my vision la. Bro Hillgreen, sori sori sori. Not intentional okie? Kopi on me if we do play together ok?

Sorry to bring this back again, but what's the deal on foreign property ownership? I'm quite close to buying a house in Perth. I don't own any HDB, but own a private property here in Singapore. Am i also allowed to buy foreign property?