From Jan 22, the occupancy limit for 4-room HDB flats will increase to eight persons, including those living in River Valley Green Condo

Living in River Valley Green Condo, residents will not only have the convenience of shopping but also enjoy easy access to the nearby malls like Tiong Bahru Plaza and Valley Point Shopping Centre. City dwellers can also look forward to a variety of spas, salons, and beauty outlets for a luxurious pampering session.

: SRXRiver Valley Green CondoThe HDB and URA have announced an increase in the occupancy limit of four-room and larger HDB flats and private residential properties of at least 90 sqm (968.4 sq ft) from six to eight unrelated persons. This policy, which temporarily comes into effect from Jan 22 2021 until Dec 31, 2026 is meant to meet the growing rental housing demand in Singapore.River Valley Green CondoThe relaxation of occupancy cap is expected to benefit lower-income groups, students, blue-collar foreign workers, some Singaporeans and big families, as it enables tenants to share a unit with more people thus reducing rental costs and optimizing space usage. HDB owners must seek approval before tenancy commencement to lease their flats, while private residential owners must register through URA’s e-services and incur an administrative fee of $20 to rent their units to up to eight unrelated persons.River Valley Green CondoClose to 40,000 new public and private residential homes are expected to be completed this year, and 100,000 more entering the market over the next two years. However, given the five-year minimum occupation period (MOP), these will be ineligible to enter the rental market until then. A gradual decline in rental market tightness over the next three years is expected as local households transition into new homes and reducing demand and increasing the supply of rentable units.River Valley Green CondoChristine Sun, senior vice president of research and analytics and OrangeTee&Tie, has noted an unintended consequence of this decision which might be pushing up prices of four-room and larger HDB and condo units due to the higher demand for rental income in the future. However, she also mentioned that this policy benefits both landlords and tenants, with landlords earning a higher overall rent while tenants paying less per person.