Starting from this Wednesday onwards, commercial and industrial properties will not be spared from “cooling measures”.
In a bid to curb speculation, the Housing Board (HDB) announced today that all new tenants will be required to tender for premises direct from HDB. Previously, outgoing tenants are allowed to transfer the property to an incoming tenant for a fee or cash premium that is negotiated between the two. With the new rule in place, extra costs that are being passed on to customers can be prevented.