Theres more to the article, but that's the meat of it. I'm guessing this and the stuff JR8 posted are part of the changes MS has been hinting at. I wonder what else is coming?Flat owners who are permanent residents (PRs) will now have to meet more stringent conditions if they want to sublet their flats.
With effect from yesterday, they will be able to sublet their flats only if they have not done so before.
This is on top of the Housing Board's (HDB's) existing requirement that they have to occupy the flat for a minimum period of five years.
HDB said in a statement yesterday that PRs can sublet their flats for only a one-year period, after which they would have to apply for an extension. But the application would be assessed on a case-by-case basis.
Approval will be granted only if there are "extenuating reasons", said HDB. The total period of subletting during the owners' entire flat ownership cannot exceed five years as well.
Previously, the subletting conditions for PRs were the same as those for Singapore citizens - they had been allowed to sublet their flat for up to three years per application, and there had been no cap on the number of renewals or the total period allowed for subletting.
The subletting conditions for Singaporeans remain unchanged.
edited to add the following relevant statistics to this discussion:
The Business Times
Published November 22, 2011
Permanent residents own 48,700 HDB flats as at September
SINGAPORE permanent residents (PRs) owned some 48,700 HDB flats as at September this year, according to fresh figures released by the Ministry of National Development (MND) yesterday.
The number of flats in the hands of PRs was made known in parliament yesterday after Member of Parliament for Ang Mo Kio GRC Ang Hin Kee requested for an update.
Mr Ang also asked how many PRs who are not residing in Singapore have received approval from the HDB to rent out their flats.
In a written response to Mr Ang, MND said that 4 per cent, or 1,967 of the 48,700 flats owned by PRs, were being sublet with HDB's approval. MND added that these flats were granted approval as their owners have met their Minimum Occupation Period (MOP). Another 295 PR households have obtained HDB's approval to sublet their flats during the MOP, of which 261 of them are working overseas.