THE TEMASEK TIMES

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PRC man wants to buy HDB flat in Singapore, but owns an apartment in China

Posted by temasektimes on March 31, 2012

A PRC man who owns an apartment in China asked fellow netizens on Lion City Forum if he can still purchase a resale HDB flat in Singapore:

“I want to buy a resale HDB flat in Singapore, but I have an apartment in China. Can I still buy? Will it have any effect on my purchase?”

(想在新加坡买转售HDB,但国内有套房,这样的情况可以买吗?会有什么影响吗)

Under a new ruling introduced last year, PRs must declare if they own any properties back home and those who have are not allowed to purchase resale flats unless they dispose their existing property within six months upon the completion of the sale of the resale flat.

One PRC netizen replied:

“Don’t think it matters. Who will go to China and check? Only need two PRs to buy a resale HDB flat in Singapore.”

(没有吧,谁会查到国内去啊…两个pr就可以买了)

Another PRC netizen added:

“Usually won’t check, but you need to sign a document declaring that you do not own properties overseas. If discovered, your HDB flat will be repossessed and the money you paid for it will not be refunded.”

(一般是不会查的,但是你买的时候是需要签一个没有海外资产的文件的,如果查到房子没收,交的钱不会退。)

In most other countries, public housing is reserved for citizens only, but in Singapore, PRs are allowed to purchase resale HDB flats which contributed partially to the sky-rocketing prices in recent years.

Not only are the housing policies lax, PRs are also not subjected to a capital tax gain when they sold their resale flats thereby enabling a number of them to make a hefty profit when they sold their flats and leave Singapore for good subsequently.

 

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6 Responses to “PRC man wants to buy HDB flat in Singapore, but owns an apartment in China”

  1. Ken Lee said

    until now i still can’t seem to understand why PR can buy HDB flat here? even resale flat are HDB flat!

  2. Derp said

    Traitors must face cancer wrath.

  3. Pat said

    And how does CPF or private insurance co. knows if your have any pre-existing illness for the past 5 or 10 years before the PRs buy the flat from their country of origin?

  4. Pat said

    I rephrase, how does CPF or private insurance co. knows if they have any pre-existing illness from their country of origin for the past 5 or 10 years before the PRs buy the flat? Just declaring they they don’t have any pre-existing illness when they buy from HDB is just too presumptuous that they don’t actually have any.

  5. Leow Wei Lin said

    maybe they should run a check with China, if there are many of this cases, consider repossessing their HDB flats,

    one, this might just be a part of the solution to the shortage of HDB flats

    two, this will give a stern warning to those who are intending to do so in the future

    three, citizens will be elated to know that the govt is doing something about the issue

    four, cruel it might sound, but HDB is getting unaffordable for even some of us Singaporean and the PRs can just come in and make it even harder, so it is just a measure to benefit both sides.. we can get a decision that whether you want to stay in Singapore for good and the near future or go back to your homeland after you have earned enough and we respect both decisions..

  6. Angry Single said

    HDB, don’t worry no one will buy tour flats firsthand. Let the singaporean single buy it from you, and sales will not drop! And also explain why foreigners can buy public flats firsthand while your citizens cannot….

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