HDB to review flat conversion scheme after concerns raised over Telok Blangah resale listing
The scheme allows eligible owners of 3-room or smaller HDB flats who require more living space to apply to combine their flat with an adjoining unit to form a larger unit.
The Housing and Development Board (HDB) is investigating its Conversion Scheme following public concerns over the pricing of a combined flat in Telok Blangah. The 91-year lease flat was created by merging two adjoining three-room units, resulting in an initial resale listing of S$2.18 million, which sparked discussion about the pricing of such large flats.
HDB received complaints over the pricing and remains committed to keeping public housing affordable and accessible. The listing price is significantly higher than comparable transactions in the area, ranging from S$673,000 to S$771,000 for individual flats over the past six months. The S$2.18 million price tag is more than 40% above the estimated value of two similar three-room flats.
HDB advises potential buyers to conduct thorough research, evaluate options carefully, and plan finances prudently to avoid overpaying. The listing has since decreased to about S$2 million.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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