Retirees with property have other options besides HDB flats

I refer to Mr Richard Sim’s letter “Let retirees right-size but keep private property for rental income” (Nov 19).

Housing and Development Board (HDB) rules require flat owners and occupiers who are Singapore citizens to continue staying in their HDB flat after purchasing a private residential property, unless they obtain prior approval from the HDB to sublet the whole flat.

Therefore, Mr Sim is incorrect when he said “this group (of families) can choose to rent out their HDB flats after they have moved into their private properties”, as subletting of the whole flat is subject to approval.

I also fail to understand why retirees who own private property would need to buy an HDB flat, then live off the rental income from their property.

Why can they not just sell their private property and live off the sale proceeds? What this group actually needs is for the HDB to waive the 30-month waiting rule. Private property owners who have disposed of their private property are barred from purchasing a flat directly from the HDB or a new Executive Condominium from the developer for 30 months.

If the HDB is unable to waive the waiting period, the retirees could, after disposing of their private property, buy an HDB flat from the resale market without having to wait for 30 months.

Alternatively, they could buy a smaller private apartment to live in and live off the rental income from the first private property. HDB flats should be reserved for those with real housing needs who are unable to afford a private property.