I have lost count of the number of times I have been told that Singaporeans who already own a HDB flat cannot buy another private property. I actually believed it until someone knowledgeable enlightened me.
Being an aspiring HDB cum private property (or properties!) owner, getting the facts right on this subject is important. If a HDB owner can purchase another private property, what are the prerequisites and restrictions? After researching the truths online via official sources, I realised there are 3 major misconceptions which I hope I can provide some insights to.
Hearsay 1: You cannot buy a private property when you already have a HDB
This misconception seems to stem from 2 policies enforced by the Ministry of National Development (MND) as part of the cooling measures for the HDB market.
The first policy dates back to 2010 national rally when it was announced that concurrent ownership of both HDB flats and private ......