• How is HDB helping Singapore’s ageing population?

    HDB has measures to help our seniors with their housing needs. These range from monetisation options to unlock the value of their home, to housing options such as 2-room Flexi flats on shorter leases, and a new housing typology with senior-friendly fittings and integrated care services. For added safety and comfort, there is also a programme to install senior-friendly features in their homes.

    Monetisation Options

    Seniors can consider various monetisation options to unlock the value of their home if they wish, depending on whether they prefer to remain in or move out of their current flat.

    How Seniors Can Tap On Monetisation Schemes

    Example: Mr and Mrs Lim, both 65 years old, are joint owners of a fully paid 5-room flat valued at $520,000, with a remaining lease of 65 years. Mr and Mrs Lim each have $20,000 and $5,000 in their CPF Retirement Account (RA) respectively. They are considering options to monetise their flat, to supplement their retirement income.

    Move into a new flat, and apply for the Silver Housing Bonus (SHB)

    If they sell their current flat, buy a 3-room resale flat in the same town and apply for SHB, they can enjoy:

    • Cash bonus of $30,000, after they use some of their proceeds to top-up $60,000 to their CPF Retirement Account
    • CPF LIFE monthly payout of $530 to supplement their retirement income
    • Cash proceeds of $210,000*, after paying for the purchase of the 3-room resale flat and topping-up their CPF RA
      *assuming there is no CPF refund required from the sale of the flat
    • The option of renting out a room to further supplement their retirement income, if they wish.

    Stay in their current flat, and sell the tail-end of their lease back to HDB under the Lease Buyback Scheme (LBS)

    If they prefer to stay in the same flat, they can apply for the Lease Buyback Scheme (LBS). If they choose to keep 30 years of the flat’s lease and sell the remaining 35 years back to HDB, they can enjoy:

    • Cash bonus of $7,500, after topping up $161,000 to their CPF RA to reach the Basic Retirement Sum

    • CPF LIFE monthly payout of $1,090 to supplement their retirement income

    • Cash proceeds of $58,300 after topping up their CPF RA

    • The option of renting out a room to further supplement their retirement income, if they wish. 

    Housing Option for Seniors

    2-Room Flexi Scheme

    Seniors looking to move into a new flat can buy a 2-room Flexi flat on a shorter lease. Those aged 55 and above can choose a lease of between 15 and 45 years in 5-year increments, as long as it covers them and their spouse up to the age of at least 95 years. 

    At least 40% (subject to a minimum of 100 units) of the 2-room Flexi flats in a BTO project are set aside for seniors. Under the Senior Priority Scheme, half of this quota is set aside for  seniors who apply for a unit near their current flat/property or near their married child. 

    Seniors who buy a 2-room Flexi flat can also opt for additional senior-friendly fittings in the flat under the Optional Components Scheme (OCS). These include built-in kitchen cabinets with induction hobs and cooker hood, kitchen sink, and a built-in wardrobe. As the short-lease flats are meant for the elderly, they come with grab bars already installed. 

    New Flat Typology

    Seniors can also look forward to a new flat typology that integrates housing with care services to support them to age-in-place. The new assisted living development will be designed with large communal spaces on every floor to facilitate interaction among residents. The flats, at about 32 sqm in size, will come with senior-friendly fittings and larger bathrooms, and other features to accommodate those with mobility needs. 

    About 160 units of this new flat typology will be launched in Bukit Batok. 

    Seniors-Friendly Features

    In all flats, seniors can also opt to install senior-friendly features under the Enhancement for Active Seniors (EASE) programme, for added safety and comfort within their homes. These features include grab bars, ramps, and slip-resistant treatment for bathroom tiles.

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