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118 HDB flats sold through mortgagee sale in the past five years

/ EdgeProp |

January 11, 2018 11:57 PM SGT

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From Jan 2013 to Nov 2017, there were 118 cases of completed mortgagee sales of HDB flats by banks, said the Ministry of National Development in response to questions from by Gan Thiam Poh, member of Parliament of Ang Mo Kio Group Representation Constituency, during Parlimentary Q&A on Jan 10.

The ministry also said that from Jan 2013 to Nov 2017, 6% of the HDB flats sold in the open market generated insufficient proceeds for the lessees to make a full CPF refund. And that HDB does not buy back flats from flat owners.

The ministry explained that HDB does not intervene in the transaction of open market sales, but facilitates 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.

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