HDB’s Lease Buyback Scheme receives more than 2,000 enquiries

The Housing and Development Board (HDB) says it has received more than 2,000 enquiries on the improved Lease Buyback Scheme as of mid-March this year as enhancements to the scheme kicked in on Wednesday (Apr 1).

Under the scheme, flat owners are allowed to sell part of their lease back to the Government to generate retirement income.

The scheme, first announced last September, includes four key changes such as extending the scheme to 4-room HDB flats, and raising the income ceiling from S$3,000 to S$10,000 per month.

According to HDB, about half of the enquiries were on eligibility criteria, and the rest were on application procedures, CPF top-up requirements and the varying lease options. Over half of these enquires (56 per cent) were walk-ins, while the rest were telephone enquiries.

HDB has been raising awareness on the various monetisation options by organising public talks and seminars at heartland locations. It also set up mini-exhibitions and enquiry booths at grassroots community events.

Source : Channel NewsAsia – 1 Apr 2015

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