The Housing and Development Board’s (HDB) studio apartments are not suitable for younger singles, according to National Development Minister Khaw Boon Wan.
He explained that the apartments are sold with a short lease period of 30 years, making it ideal for retirees and not for younger people.
Mr Khaw’s statement was in response to MP Dr Intan Azura Mokhtar’s query as to whether the board will allow singles aged 55 years old or below to buy HDB studio apartments.
“There are residents who have come and approached me. They are singles, without family members or not very well-to-do. They can’t afford the high COV of resale flats or buy a flat from the private market. There isn’t much option for them,” said Dr Intan.
Mr Khaw said that “there’s a wide range of potential house buyers so housing is a very complex problem. I will approach these problems systematically, I have to set priorities.”
“In due course, I will be able to address all the various segments. But I decided to just zero in for the first 12 months on the first-timers and I think we’re delivering some results,” he added.
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