Most of 4,000 units sold en bloc in past three years above 30 years old: MND

By Angela Teo / EdgeProp | February 7, 2018 5:23 PM SGT
At a Parliament session on Feb 6, minister for national development Lawrence Wong said that 6%, or about 240 units, of the approximately 4,000 units sold en bloc in the last three years were less than 30 years old.
This was in response to a query from member of parliament (MP) Lee Bee Wah on the age of en bloc developments sold in the past three years, and whether the Ministry of National Development (MND) would consider setting a minimum age for developments to qualify for an en bloc sale.
Of the 40 developments sold en bloc in the past three years, 13 were less than 30 years old at the point of sale. However, Wong notes that most of them were more than 20 years old at the time of sale, and were small developments with less than 20 units each.
Wong was also asked by MP Henry Kwek if MND would consider working with Airbnb to come up with “a meaningful way of regulating private homes from being rented out”. In response, Wong said that “there is scope to allow short-term accommodations in Singapore, subject to proper safeguards and controls”.
He adds that MND is working out these regulatory parameters and will consult the public on proposed measures before finalising them.