A total of 18 property agents were taken to task between 2017 and 2022 for helping their clients to market Housing Board flats which breached the HDB’s mandatory five-year minimum occupation period (MOP) rule. Of these, six agents had their registration suspended for...
Property agents who have reasonable cause to suspect that MOP rules have been infringed should inform their clients of the potential consequences and stop marketing the property, said Mr Lee.
Mr Lee said owners who cannot fulfil their MOP due to changes in their circumstances must return their flat to HDB. Data analytics and other tools are also used to detect potential infringement, he said, declining to go into details as some involve confidential investigative methods. He said HDB tries to strike a balance in detecting and investigating breaches. “On the one hand, we want to ensure that HDB rules are complied with by detecting and deterring errant owners who infringe the rules; on the other hand, we do not want to overly impinge upon the privacy of the 1.1 million HDB homeowners, the vast majority of whom abide by the rules.”
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HDB BTO projects hitting MOP in 2023: Should you sell your flat right after MOP?One of the key aspects of buying an HDB flat is that after completing the flat purchase (aka the key collection), you’ll need to occupy the flat for a certain number of years. This period, known as the Minimum Occupation Period (MOP), usually lasts five years. (For Prime Location Public Housing (PLH) flats, it’s 10 years.) When the MOP ends,...
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18 property agents disciplined in last five years for marketing HDB flats which breached MOP rulesSix of them had their registration suspended for between seven and 48 weeks and were fined between $2,000 and $5,000. Read more at straitstimes.com.
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Property agents suspended and fined for selling BTO flats before MOP: Desmond LeeDisciplinary action has been taken against property agents who helped homeowners sell BTO flats before the minimum occupancy period (MOP), Desmond Lee told Parliament on Monday (Jan 9). The Minister for National Development was responding to parliamentary questions by several Members of Parliament about errant homeowners leaving their flats vacant for years. Between 2017 and 2022, the Council for Estate...
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Property agents disciplined over breaches relating to HDB minimum occupancy rules; cases riseSINGAPORE — Disciplinary action has been taken against 18 property agents who helped clients market Housing Board flats that may not have met the minimum occupation period (MOP) between 2017 and 2022, National Development Minister Desmond Lee said in Parliament on Monday (Jan 9).
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Property agents disciplined over breaches relating to HDB minimum occupancy rules; cases riseIn the last five years, 18 property agents breached the code of ethics which requires them to perform due diligence to ensure that no regulations have been infringed.
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