Breakdown of Amount Refunded to Lessees by Room Type and Balance of Lease under the Lease Buyback Scheme

Mr Gan Thiam Poh asked the Minister for National Development since the introduction of the Lease Buyback Scheme, what amount has been refunded to lessees who returned their flats to HDB and received a refund of the value of the unused portion of the lease by (i) room type and (ii) balance of lease.

Mr Desmond Lee: Seniors who participated in the Lease Buyback Scheme (LBS) may return the flat early to HDB under certain circumstances, for example, moving in to stay with family for mutual care and support or demise, and receive compensation based on the value of the remaining lease. The median amount received by such seniors since the introduction of the LBS scheme, broken down by flat type and remaining lease, is shown in Tables 1 and 2 respectively.