Written Answer by Ministry of National Development on monetisation options for Singaporeans living in flats

Nov 6, 2017

Ms Foo Mee Har: To ask the Minister for National Development as HDB flats approach the end of their 99-year leases, what strategies are available to Singaporeans who wish to monetise their ‘nest egg’ in order to supplement their retirement needs.

Answer:

There are various monetisation options for elderly flat owners to unlock the value of their flats to supplement their retirement needs.  They can sell their flats in the resale market, right-size to a smaller flat, and apply for the Silver Housing Bonus.  Alternatively, if they wish to retain their flat, they can sublet a spare bedroom or their whole flat, or apply for the Lease Buyback Scheme.  HDB flats will continue to be a good store of value if flat buyers plan ahead and make prudent housing choices.