JTC gradually phasing out scheme for housing foreigners: Lee Yi Shyan
Posted: 12 March 2013 1153 hrs
SINGAPORE: Senior Minister of State for Trade and Industry Lee Yi Shyan said JTC Corporation has been gradually phasing out the scheme for housing of foreign talent (SHiFT).
Mr Lee explained that the scheme was started in 1997 to address the lack of affordable housing for foreign talents.
He said in those days, HDB owners could only rent out rooms and not the entire flat, to locals and foreigners alike.
But this has changed since 2003, where HDB has allowed the rental of entire flats to both Singaporeans and foreigners.
Mr Lee said: "As rental supply increases, JTC has been gradually phasing out SHiFT through the sale of flats to eligible buyers, meeting HDB's home ownership rules. JTC expects to continue to run down the stock of the remaining SHiFT flats as the tenancy agreements expire."
He was responding to a question in Parliament by non-constituency MP Lina Chiam, on whether the government would consider suspending the scheme, to address the housing concerns of Singaporeans who cannot afford HDB flats.
Mrs Chiam had suggested renting these housing units currently under the scheme to them.
- CNA/xq
Posted: 12 March 2013 1153 hrs
SINGAPORE: Senior Minister of State for Trade and Industry Lee Yi Shyan said JTC Corporation has been gradually phasing out the scheme for housing of foreign talent (SHiFT).
Mr Lee explained that the scheme was started in 1997 to address the lack of affordable housing for foreign talents.
He said in those days, HDB owners could only rent out rooms and not the entire flat, to locals and foreigners alike.
But this has changed since 2003, where HDB has allowed the rental of entire flats to both Singaporeans and foreigners.
Mr Lee said: "As rental supply increases, JTC has been gradually phasing out SHiFT through the sale of flats to eligible buyers, meeting HDB's home ownership rules. JTC expects to continue to run down the stock of the remaining SHiFT flats as the tenancy agreements expire."
He was responding to a question in Parliament by non-constituency MP Lina Chiam, on whether the government would consider suspending the scheme, to address the housing concerns of Singaporeans who cannot afford HDB flats.
Mrs Chiam had suggested renting these housing units currently under the scheme to them.
- CNA/xq
