Extension to 4-room flats

The enhanced Lease Buyback Scheme (LBS) will be extended to four-room HDB flats.

With this extension, the scheme will cover 75 per cent of elderly HDB households compared to 35 per cent now.

The owners must have lived in the flat for at least five years.

Four-room households will receive a $10,000 cash bonus per household when they participate in the scheme. This is on top of the proceeds they receive from selling the tail-end lease of their flat to HDB.

Income ceiling raised

The income ceiling will be raised to $10,000 from $3,000 per month.

The increase in income ceiling will allow the elderly who are still working and/or living with their family members to qualify for these monetisation options.

Relaxation of CPF 
Retirement Account top-up

About half of the LBS-eligible households have two or more owners now.

For these households, each owner will only be required to top up his CPF Retirement Account (RA) to half the age-adjusted prevailing CPF Minimum Sum (MS), instead of the full age-adjusted prevailing MS.

They will be able to retain more cash upfront.

If there is only one owner, the full CPF minimum sum remains the same.

Lease length flexibility

Elderly homeowners can now choose to sell a shorter or longer lease back to the Government instead of having a standard 30-year lease for all.

  • Those aged 63 to 69 can opt to own the flat for 30 or 35 years.
  • Those aged 70 to 74 can opt to own the flat for 25, 30 or 35 years.
  • Those aged 75 to 79 can opt to own the flat for 20, 25, 30 or 35 years.
  • Those aged 80 or older can opt to own the flat for 15, 20, 25, 30 or 35 years.

A household must have at least 20 years of lease to sell to HDB to be eligible for the LBS.