Government 'considering' lease buyback for bigger HDB flats
Seniors living in bigger Housing Board flats may soon have the option of converting a part of the lease on their flat into cash, to allow them to age in place.
This is after National Development Minister Khaw Boon Wan said yesterday that the Government is considering expanding the criteria for the lease buyback scheme which is currently only for those living in three-room and smaller flats.
He was responding to questions from reporters, on the sidelines of a post-Budget forum.
Although the scheme has not been very popular, Mr Khaw said it provides more options for seniors, and that he had received many requests for four-room and five-room flats to be allowed too. "I do not regard the low take-up rate as a failure. I would just say that what it means is, people are not financially desperate to need to take advantage of those options."