More flexible HDB flat options for elderly buyers
New scheme offers range of shorter leases; BTO units to be set aside to ensure supply
Elderly flat buyers will have a good number of units allocated to them under a new flexible housing scheme, which will also allow existing studio apartment owners to top up their leases .
Under the scheme which kicks off next month, existing studio apartment owners, including those who have not collected their keys, can opt to top up their current 30-year lease by five, 10 or 15 years at any time. They can do so from April next year, at prevailing market rates. Alternatively, they can apply for a 10-year extension when their current lease expires.
Elderly buyers waiting for their new flats or studio apartments to be completed can cancel their applications and apply for a flat with a shorter lease instead. Any forfeiture fee will be waived if they do so before Aug 19 next year.