Asked by Mr. M Ilyas
Hi
I am reaching to 55 this August and I am SPR. I have my HDB house in an old estate reaching already 40 years. Besides it, the house is getting smaller for my needs. I want to sell it and buy a larger house in some new estate BUT I do have some overseas property as well. I understand that if I sell my present old HDB, I cannot buy a new HBD since I am having overseas property. As I said I am reaching 55 and I need some rental income support in the coming days. On top of it I am having a sort of sickness which can affect my bones resulting that I may not be able to work and it is the major reason of buying overseas property for rental income. Obviously I cannot sell my overseas property since no one is going to support me and my family if I am unable to work. Is there any way to overcome this situation? Can I approach HDB to allow me to sell the OLD HDB and buy a new one while I retain my overseas property? Thanks in advance for your guidance.
I am reaching to 55 this August and I am SPR. I have my HDB house in an old estate reaching already 40 years. Besides it, the house is getting smaller for my needs. I want to sell it and buy a larger house in some new estate BUT I do have some overseas property as well. I understand that if I sell my present old HDB, I cannot buy a new HBD since I am having overseas property. As I said I am reaching 55 and I need some rental income support in the coming days. On top of it I am having a sort of sickness which can affect my bones resulting that I may not be able to work and it is the major reason of buying overseas property for rental income. Obviously I cannot sell my overseas property since no one is going to support me and my family if I am unable to work. Is there any way to overcome this situation? Can I approach HDB to allow me to sell the OLD HDB and buy a new one while I retain my overseas property? Thanks in advance for your guidance.
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I am grateful for your kind reply to my question. Actually I am not looking for any grants or concession from Government for the purchase. Further I know that I shall not be able to use my CPF funding but I can still upgrade to a newer HDB if I am allowed to do. What I understand from your reply that I can 'appeal' to HDB for allowing me to upgrade. Am I right to understand you correctly?
Thank you
Kind rgds
M Ilyas