Monday, 3 October 2011
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inSing.com, 3 Oct 2011
Property agents say they are seeing a trend of Singaporeans divorcing in order to own more than one HDB flat.
According to the senior vice president of the Propnex Group, Lin Yong Fu, such a phenomenon surfaced more than ten years ago. After meeting some divorced couples still shopping for flats, he came to realise that such divorces are a sham.
Lin found that after these couples divorce, one of them will retain ownership of their marital flat while the other one buys another flat. The couple will then each own a flat. They will rent out one flat to earn rent while staying together in the other flat. Full story
Singporeans faking divorces to own 2 HDB flats
inSing.com, 3 Oct 2011Property agents say they are seeing a trend of Singaporeans divorcing in order to own more than one HDB flat.
According to the senior vice president of the Propnex Group, Lin Yong Fu, such a phenomenon surfaced more than ten years ago. After meeting some divorced couples still shopping for flats, he came to realise that such divorces are a sham.
Lin found that after these couples divorce, one of them will retain ownership of their marital flat while the other one buys another flat. The couple will then each own a flat. They will rent out one flat to earn rent while staying together in the other flat. Full story
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