Written Answer by Ministry of National Development on amounts refunded to lessees who returned their flats to HDB, broken down by lease balances, under the Lease Buyback Scheme or other schemes

May 10, 2021

Mr Gan Thiam Poh: To ask the Minister for National Development since the introduction of HDB's 2-room Flexi Flat Scheme, what are the amounts that have been refunded to lessees who returned their flats to HDB, broken down by lease balances, under the Lease Buyback Scheme or other schemes.  

Answer:

Seniors who purchased a 2-room Flexi short-lease flat may return the flat early to HDB under certain circumstances, e.g. moving in to stay with family for mutual care and support or demise, and receive compensation based on the value of the remaining lease. The median amounts received by such seniors since the introduction of short-lease 2-room Flexi flats, broken down by the remaining lease, is shown in Table 1.

Table 1: Breakdown of compensation by remaining lease

Note: There were no transactions for flats with remaining lease of 0-10 years.