To reinforce the principle of owner-occupation and reduce the possibility of speculation, HDB will be raising the minimum occupation period (MOP) for resale of nonsubsidised flats from one and 2.5 years to three years.
National Development Minister, Mah Bow Tan, told Parliament on Friday that this will align the MOP for home owners to resell and fully sublet non-subsidised flats.
The extension of MOP will apply to all flats, not just larger flats, Mr Mah said as the focus of the revised MOP is to foster owner-occupation and not about affordability per se.
Source: Business Times, 5 Mar 2010
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