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More take up Housing Board's Lease Buyback Scheme

Higher number of seniors used scheme last year after rules were relaxed

Published on Jan 13, 2014 8:01 AM
Choy Mui Leng, 66, (left) and her husband Chow Futt Yeow, 77, consider themselves lucky as they qualified for the Silver Housing Bonus when they bought a three-room BTO flat in Punggol. -- ST PHOTO: JASON QUAH

The number of seniors taking up the Housing Board's Lease Buyback Scheme went up last year to 240, after rules were relaxed so more flat owners aged 63 and above could qualify.

That is up from a total of 471 households over the four years from 2009 - when the scheme was launched - to January last year, said HDB.

It did not give a yearly breakdown of the scheme's take-up before the enhancement.

The Lease Buyback Scheme, which helps seniors age in place, is one of several HDB schemes that help retirees monetise their housing assets should they find themselves asset-rich but cash-poor.

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