And the BEST PAID paid PeeAm is very concerned about it. Poor thing!
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>More renting HDB flats <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Jessica Cheam
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The HDB is building more flats to meet demand, but Mr Lee urged people who are not really in need to look for alternatives like renting a room on the open market or moving in with their children. -- ST PHOTO: STEVEN LEE
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THE sharp increase in the number of people wanting to rent Housing Board flats has become a cause for concern, said Prime Minister Lee Hsien Loong.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story -->RELATED LINKS
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PM's NDR Speech part 1
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</TD></TR></TBODY></TABLE>Demand for rental flats has tripled in just a year, said PM Lee who described this as a 'worrying trend'.
He said the number of people seeking such flats forms the bulk of cases at MPs' weekly meet-the-people sessions.
The HDB is building more flats to meet demand, but Mr Lee urged people who are not really in need to look for alternatives like renting a room on the open market or moving in with their children.
Other viable alternatives include downgrading to a smaller flat or moving into a studio apartment.
Elderly folk can also opt for the recently launched lease buy-back scheme to monetise their flats instead of selling up and joining the rental queue.
The initiative, announced in February, allows owners to sell the tail-end of their flat lease to the HDB. The proceeds then go to a CPF Life annuity, which will make monthly payouts.
Mr Lee said the growing demand for rental flats is one of the 'wider needs of the public' noted by MPs.
HDB figures from April show that rental flats demand has soared over the past year, with the waiting list up by at least 30 per cent in recent months.
Then, there were about 4,000 applicants in the queue with a waiting time of 15 months - double the wait in 2006. The HDB's website said waiting times can range from 5.5 months for a two-room flat in Bukit Merah or Jurong to as long as 19 months for a one-room flat in Woodlands.
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>More renting HDB flats <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Jessica Cheam
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
The HDB is building more flats to meet demand, but Mr Lee urged people who are not really in need to look for alternatives like renting a room on the open market or moving in with their children. -- ST PHOTO: STEVEN LEE
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"-->
THE sharp increase in the number of people wanting to rent Housing Board flats has become a cause for concern, said Prime Minister Lee Hsien Loong.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story -->RELATED LINKS
<!-- Audio --><!-- Video --><!-- PDF -->
<!-- Photo Gallery -->
</TD></TR></TBODY></TABLE>Demand for rental flats has tripled in just a year, said PM Lee who described this as a 'worrying trend'.
He said the number of people seeking such flats forms the bulk of cases at MPs' weekly meet-the-people sessions.
The HDB is building more flats to meet demand, but Mr Lee urged people who are not really in need to look for alternatives like renting a room on the open market or moving in with their children.
Other viable alternatives include downgrading to a smaller flat or moving into a studio apartment.
Elderly folk can also opt for the recently launched lease buy-back scheme to monetise their flats instead of selling up and joining the rental queue.
The initiative, announced in February, allows owners to sell the tail-end of their flat lease to the HDB. The proceeds then go to a CPF Life annuity, which will make monthly payouts.
Mr Lee said the growing demand for rental flats is one of the 'wider needs of the public' noted by MPs.
HDB figures from April show that rental flats demand has soared over the past year, with the waiting list up by at least 30 per cent in recent months.
Then, there were about 4,000 applicants in the queue with a waiting time of 15 months - double the wait in 2006. The HDB's website said waiting times can range from 5.5 months for a two-room flat in Bukit Merah or Jurong to as long as 19 months for a one-room flat in Woodlands.
