SINGAPORE — About 9,700 households have sold part of their flat’s remaining lease back to the Housing Board (HDB) as of December 2022, with seven in 10 receiving between S$100,000 and S$200,000.
The majority of those who took up the Lease Buyback Scheme live in 3-room or smaller flats, HDB said in an update on Sunday .
The proceeds will be used to top up their Central Provident Fund retirement account and buy a CPF Life plan, which will provide them with a monthly income for life. Any balance proceeds after the top-up will be returned to them in cash.About 55 per cent of the 9,700 households who took up the scheme live in 3-room or smaller flats. Slightly more than 31 per cent live in 4-room flats while the remaining 13 per cent live in 5-room and bigger flats.
During the Parliament sitting on Feb 7, public housing policies came under the spotlight with Members of Parliament debating issues such as the affordability of flats and retirement adequacy.HDB also provided an update on its 2-room Flexi Scheme, which gives seniors the option of monetising their existing property and"right-sizing" to a 2-room Flexi flat.The booking exercises for nearly 33,200 units have been completed, while the selection exercises for the remaining units are ongoing.
About 44 per cent of them opted for 45-year and 40-year leases, while another 44 per cent opted for 35-year and 30-year leases. “In 2021 and 2022, about 82 per cent of the 6,728 units of 2-room Flexi short-lease flats offered in non-mature estates were priced below S$100,000 for a lease length of 45 years.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
9,700 elderly households have sold part of flat's remaining lease to HDB since 2009SINGAPORE: About 9,700 households have sold part of their flat’s remaining lease back to the Housing Board (HDB) as of December 2022, with seven in 10 receiving between S$100,000 and S$200,000.
Read more »
9,700 households have sold part of their remaining leases back to HDB since 2009Since 2020, the yearly take-up of the scheme has “remained steady at around 1,500 households”. Read more at straitstimes.com.
Read more »
A review of February 2023 Queenstown HDB BTOAround 730 units of 3-room and 4-room units in Queenstown will be available for balloting in the February 2023 BTO sales exercise. It’s also the second BTO project in Dover Forest, after the launch of the Ulu Pandan Banks BTO in the November 2022 BTO. If you didn’t get a queue number then, here’s your second chance. HDB hasn’t released...
Read more »
6 BTO and 15 resale flats acquired by HDB over breaches of minimum occupation period rulesThere was public outcry following reports in December 2022 about vacant BTO flats that were put up for sale online. Read more at straitstimes.com.
Read more »
We've already been condemned, says Man City's Guardiola over chargesMANCHESTER, England : Manchester City manager believes the club has already been 'condemned' after being charged by the Premier League with over 100 breaches of financial rules since 2009.Speaking for the first time since the reigning champions were hit with the charges this week, Guardiola gave an impass
Read more »
6 BTO and 15 resale flats compulsorily acquired by HDB in last 5 years after owners flout rule on minimum occupation periodSINGAPORE — Over a period of about five years, enforcement action was taken against 25 property buyers who bought a flat directly from the Housing and Development Board (HDB) and violated the required minimum occupation period needed before they can sell the flat.
Read more »