Oral Answer by Ministry of National Development on Lease Buyback Scheme

Oct 1, 2018

Question by: Mr Gan Thiam Poh

Mr Gan Thiam Poh: To ask the Minister for National Development 

(a) how many HDB flats have joined the Lease Buyback Scheme since the Scheme was first launched;

(b) what is the total number for each flat type;

(c) whether there have been younger applicants whose applications were rejected or approved on an exceptional basis; and

(d) whether the Ministry will review and lower the minimum age requirement for each application.

Question by: Mr Alex Yam Ziming

Mr Alex Yam Ziming: To ask the Minister for National Development 

(a) since 2009, whether exceptions to the rules for the Lease Buyback scheme have been exercised by HDB for applicants with unique circumstances;

(b) if so, how many have been approved;

(c) what have been the main reasons for rejection since the scheme's extension to 4-room flats since April 2015; and

(d) whether HDB will exercise flexibility when only one of the spouse qualifies under the age criteria.

Answer:

About 3,100 households have taken up the Lease Buyback Scheme (LBS) since it was introduced in March 2009. This comprises 830 households in 4-room flats, 2,030 households in 3-room flats, and the remaining 240 households in smaller flats.   

Among those who asked for exceptions to the LBS criteria, the main reason for rejection is that they do not meet the age requirement.  The qualifying age for LBS is set at the CPF Payout Eligibility Age of 65 to allow seniors to immediately receive their monthly CPF payouts when they take up the LBS.

That said, HDB has exercised flexibility for applicants based on their individual circumstances, such as ill health or financial difficulty, and it has done so for about 50 households since April 2015. This includes households who did not meet the age requirement.

We thank both Mr Gan and Mr Yam for their feedback and will take it into consideration their views and suggestions as we continue to review our schemes.