This is a encouraging to note that HDB owners are able to sell back their flat’s balance lease and still cash out some money for their retirement. The change of covering 4 room flats did cause the surge in numbers.
Retired HDB owners can still stay inside their flat after selling back the lease, instead of the earlier case where they had to sell their HDB and apply for new studio apartments to cash out from their unit.
Should it cover 5 room HDB and above, I would think not. Since this is for couples who stays alone, 5 room will be too big for them. It make more sense for them to down size to 3 room flat to cash out instead.
Spike in HDB lease buyback applications
Introduced in 2009 but updated several times since, the scheme lets elderly flat owners sell part of their lease back to the Housing Board for retirement income. This was more than double the 368 applications received in the six months after the last time the scheme was updated, in 2013. Close to half of the new applications were from owners of four-room flats. See more…
Image from srx.com.sg