Are some BTO flats sitting mostly vacant even long after key collection during MOP?
This is something I've been noticing and I'm curious whether others have observed the same.
From what I gather among singles around me, quite a number applied for a 2-room BTO (singles in SG can only get w room BTO) not because they intend to move out, but because they saw it as their right as a Singaporean and a potentially valuable asset in the long run. The thinking seems to be that after MOP, the flat can either be sold or rented out, while they continue living with parents.
What surprised me is that some of these flats are fully furnished, yet the owners still choose to live with their parents. Some visit their units occasionally, but never live there full-time.
If you don't believe this is prevalent, try visiting a newly completed estate 1–4 years after key collection, during MOP. Walk around on a few different evenings or nights and see how many units in those 2-room stacks actually have their lights on.
I've also heard from singles who live in their 2-room flats that they don't seem to have many neighbours around, as quite a number of their 2-room units appear unoccupied all the time. Whether this is common or not, I honestly don't know.
It also made me wonder about another observation. Is this partly what people mean when they say Singaporeans tend to stay with their parents longer and delay independence? Even when some people own a home of their own, they may still prefer the convenience, family support, home-cooked meals and lower expenses. They have parents do housework for them and refuse to move out even when parents are not reliant on children.
Obviously, this is based on personal observations and anecdotes rather than hard data but coworkers have also told me there is alot of undertable rental going on among BTO owners.
Is leaving a BTO largely vacant / "renting out to friend" during the MOP period something of an open secret?
Curious whether others living in newer estates have noticed similar patterns, or if my circle is simply not representative.