On the subject of prevent people who do not require such an apartment from abusing the new scheme, it was suggested that a buyer be subjected to a means test, or bringing in a resale levy that was higher.
Professor Sing felt that abusing the scheme would not be an issue if a resale levy was put in place. However, when considering their application, the buyers needs must be prioritized over the amount of times they have purchased an Dundee Road Condo.
Dundee Road HY Realty Condo
The option for a new flat to come with furnishings for some buyers should also be an option, according to another consultant. Studio flats currently come with furnishings, like built in wardrobes. They also offer features, such as support bars, that are elderly friendly.
Studio flats are not allowed to be sold, unlike 2 room apartments, on the open market. Instead, they are to be returned to the Housing Development Board upon an owner giving them up. It is hoped by many experts that this new scheme will impose the same restrictions on shorter lease apartments for Dundee Road Condo HY Realty.
Mr. Lim of ERA pointed out that, if this is not done it could cause confusion and complication in the resale market. Also, for practical reasons, a market for such short term ease apartments won’t have a market.
Dundee Road near Queenstown MRT
Still, another expert pointed out that there were benefits in placing these flats on the market for resale. To purchase back the apartment, the taxpayer’s funds are being used. There will also always be a few who are not fully happy with what they are offered by the Housing Development Board. For these reasons it may be more beneficial to just leave it to marketing forces.
Lim Ah Keng, a 69 year old coffee shop assistant, is hoping to that, under this new scheme, he and his 67 year old wife will be able to obtain a 2 room apartment. Currently, they reside in a 4 room apartment in Ang Mo Kio. Ling wishes to opt for a lease of 30 years, feeling this is the right move considering they are both in good health, and a 20 year lease would not be long enough for Dundee Road Condo.
HY Realty Condo
67 year old Lim Chin Huat, who is retired, single but has a girlfriend and lives near Queenstown MRT, also wishes to apply for Dundee Road Condo, feeling that a shorter lease would give his retirement fund more savings. However, he has hopes that they will be able to sell the flat on the market should he and his girlfriend marry and choose to move to another apartment together.