Lease Buyback Scheme

Through the Lease Buyback Scheme (LBS), you will be able to monetise your flat to receive a stream of income in your retirement years, while continuing to live in it.

You can sell part of your flat’s lease to HDB and choose to retain the length of lease based on the age of the youngest owner. The proceeds from selling part of your flat’s lease will be used to top up your CPF Retirement Account (RA). You can then use your CPF RA savings to join CPF LIFE, which will provide you with a monthly income for life.

Eligibility Conditions

In order for your household to qualify for the LBS, the following conditions must be met:

Criteria

Eligibility

Age

All owners must have reached the eligibility age (currently set at age 65) or older

Citizenship

At least one owner must be a Singapore Citizen

Income

Gross monthly household income of $14,000 or less

Flat type

All flat types*

Property Ownership

No concurrent ownership of private residential property*, and no more than one non-residential private property

*Includes mixed-use development or property with residential component such as HDB shop with living quarters 

Minimum Occupation Period

All owners have been living in the flat for at least 5 years, or 10 years for Prime Location Public Housing (PLH) flats

Minimum Lease

At least 20 years of lease to sell to HDB

 *Excluding short-lease flats, HUDC, and Executive Condominium units

 

Restrictions

Find out more about the restrictions that apply to the LBS in situations where you terminate your lease prematurely or if you outlive the lease period.

 

How the LBS works

Find out how the scheme works for more information on the LBS.

How to apply

You may wish to follow the steps to apply for the LBS .

If you need assistance, you can call our HDB Branch Service Line at 6225-5432. Our hotline operates on weekdays, from 8:00am to 5:00pm, except on Public Holidays. On the eves of Christmas, New Year and Chinese New Year, we operate from 8:00am to 12:30pm.

 

During the lease period

As the LBS is for those who wish to age-in-place, the lease is non-transferable on the open market. You may not sell the flat on the open market or rent out the whole flat.

Premature termination of lease

If you wish to terminate the lease prematurely, you can:
  • Return the flat to us
  • Receive a refund for the remaining lease, pro-rated on a straight-line basis
Your CPF LIFE plan will not be terminated and will continue to provide a lifelong monthly income.

Outliving the lease period

If you outlive the lease of your flat, you will not be left homeless. We will look into your circumstances such as family support, health condition, and financial status, and work out an appropriate housing arrangement with you and your family members.

Passing away within the lease period

In this situation, your spouse or child who is living in the flat may:
  • Live in the flat for the balance of the lease period, subject to eligibility conditions; or
  • Return the flat to us
If your lease is terminated prematurely, we will reimburse the remaining value of the lease to your beneficiaries, based on a straight-line depreciation.
 
The unused portion of your CPF LIFE premium*, if any, will be refunded to your CPF accounts when you pass away. The monies will then be distributed to your nominees. If you have not made a nomination, the monies will be distributed to your family members according to Singapore's intestacy law.
 
*The unused portion of the CPF LIFE premium is the annuity premium (excluding annuity payouts that you have received thus far). For example, if the annuity premium is $50,000 and you have received $250 monthly for a total of 10 months, the unused portion of the premium is $47,500.
 

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