Extension of Lease Buyback Scheme to Owners of Larger HDB Flats

Mr Gerald Giam Yean Song asked the Minister for National Development if the Government will consider extending the Lease Buyback Scheme to owners of 4-room or larger HDB flats.

Mr Khaw Boon Wan: The Lease Buyback Scheme (LBS) is intended to help lower-income elderly living in 3-room or smaller HDB flats enhance their retirement income. We have no plan to extend the LBS to owners of 4-room or larger HDB flats as they have other monetisation options. Elderly households tend to be small, and those in the larger flat types may have spare rooms to rent out, after their children have moved out. Alternatively, they can choose to right-size to a smaller flat or Studio Apartment under the Silver Housing Bonus Scheme.