HDB's Lease Buyback Scheme

How the HDB scheme works?

Who qualifies?

• Singaporeans who own three-room or smaller HDB flats where the remaining mortgage is $5,000 or lower.
• They must be aged 62 or older, have a household income of $3,000 or less and owned the flat for at least five years.
• They must not own or have owned a larger property. Also, they must have received only one housing subsidy.

What they get?

• A monthly payout that can range from $470 to $800, depending on their age and the flat's market value.
• A $10,000 subsidy: $5,000 in cash and $5,000 towards the Central Provident Fund annuity.
• If the owner dies before his remaining lease runs out, his family gets a refund of the balance and the unused annuity.