RESIDENTIAL PROPERTY | Staff Reporter, Singapore

118 HDB flats auctioned from 2013 to 2017

6% of flat sales were insufficient for tenants' full CPF refund.

There were 118 cases of completed mortgagee sale of HDB flats by banks between January 2013 to November 2017, the Ministry of National Development (MND) revealed.

According to a parliamentary reply to Gan Thiam Poh, HDB does not buy back flats from flat owners and does not keep records of requests by flat owners who wish to sell their flats to HDB.

HDB flat owners who have met the minimum occupation period can sell their flats on the open market.

"Such open market sales are a mutual agreement between the respective sellers and buyers, and HDB does not intervene in the transaction," MND said.

HDB does, however, facilitate the sale of flats on the open market through measures such as publishing information on recent resale transactions on its website and providing a resale checklist to guide sellers and buyers through the process.

Within the time period, 6% of the HDB flats sold in the open market generated insufficient proceeds for the lessees to make a full Central Provident Fund (CPF) refund. 

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