HDB to allow flat sellers to extend stay

FLAT sellers will, with immediate effect, be able to negotiate with buyers for a temporary extension of stay in their flats by up to three months.

This will give them more time to move out of their sold flats, the Housing & Development Board (HDB) announced yesterday.

This relaxed rule is likely to benefit about 15 per cent of total resale transactions, or some 2,700 households a year, it added.

Minister for National Development Khaw Boon Wan and property consultants welcomed the change; the latter even expect this to boost resale transaction volume in the months to come.

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