{"id":101430,"date":"2018-11-19T11:36:29","date_gmt":"2018-11-19T04:36:29","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-provide-more-help-to-seniors-looking-to-unlock-flats-value\/"},"modified":"2018-11-19T12:03:04","modified_gmt":"2018-11-19T05:03:04","slug":"hdb-to-provide-more-help-to-seniors-looking-to-unlock-flats-value","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-provide-more-help-to-seniors-looking-to-unlock-flats-value\/","title":{"rendered":"HDB to provide more help to seniors looking to unlock flat\u2019s value"},"content":{"rendered":"


\nMore personalised information could soon be provided to help seniors make better retirement decisions, such as the estimated proceeds from the sale of their flats.
\nUnlocking the value of one\u2019s HDB flat can prove to be a complex task, wrote National Development Minister Lawrence Wong in a blog post.
\nAnd since every individual\u2019s circumstance is unique, he has asked HDB to see what more it can do to provide more personalised information to seniors.
\n\u201cThis could include information on the estimated proceeds that one can get from the different options\u201d they have with their HDB units, said Wong.
\nFind\u00a0HDB flats for sale\u00a0or read our\u00a0HDB guides\u00a0and\u00a0BTO guides
\nHe noted that individuals planning for retirement should look at all the assets they own, including their income from work, savings in their CPF accounts and other areas \u2013 not just the value of their existing flats.
\n\u201cFinancial planning for retirement is something we must all take seriously. For HDB flat owners, this process is also linked to the various monetisation options to unlock the value of their flats,\u201d said Wong.
\n\u201cBefore deciding on any particular option, it\u2019s best to do some homework and work out the sums carefully.\u201d
\nHe cited an elderly couple living in an executive flat \u2013 worth $570,000 today \u2013 in Woodlands. The couple, who are in their 60s, are looking to monetise their flat for retirement since all their children are married with flats of their own.
\nWong said the couple could right-size or continue to stay in their current flat and take up the Lease Buyback Scheme (LBS).
\n\u201cIf they choose to right-size, they will have to think about the size and lease of the next flat, and whether to purchase it from the resale market or to get something new from HDB,\u201d he said.
\nWong explained that the couple may receive a smaller amount than they could get from right-sizing should they choose to remain in their current flat and take up the LBS.
\n\u201cBut the advantage is that they can continue to stay on in the same flat\u201d and consider renting out their spare bedrooms, he added.
\nWong revealed that details for the extension of LBS to include five-room and larger flats would be unveiled by early next year.
\nCan you afford an HDB flat? Check your\u00a0affordability\u00a0now.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB to provide more help to seniors looking to unlock flat\u2019s value<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

More personalised information could soon be provided to help seniors make better retirement decisions, such...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-101430","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qnY","jetpack-related-posts":[{"id":97608,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-have-options-to-unlock-value-of-hdb-flats\/","url_meta":{"origin":101430,"position":0},"title":"Seniors have options to unlock value of HDB flats","date":"September 11, 2018","format":false,"excerpt":"\r Seniors may choose to rent our a spare bedroom or sell part of their lease back to HDB. HDB flats provide a nest egg to seniors for their retirement needs, and the authorities have introduced many schemes and programmes to monetise such properties by then, according to National Development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-scrap-re-offer-of-balance-flats-exercise\/","url_meta":{"origin":101430,"position":1},"title":"HDB to scrap Re-Offer of Balance Flats exercise","date":"March 5, 2020","format":false,"excerpt":"\r The change is part of the various measures unveiled by Wong to make housing more accessible as well as to better support Singaporeans\u2019 diverse housing needs. Homebuyers can look forward to faster access to public housing as the Housing and Development Board (HDB) will do away with the Re-Offer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96393,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lease-buyback-scheme-to-be-extended-to-all-hdb-flats\/","url_meta":{"origin":101430,"position":2},"title":"Lease buyback scheme to be extended to all HDB flats","date":"August 21, 2018","format":false,"excerpt":"\r Elderly owners of large Housing and Development Board (HDB) flats can look forward to monetising their flat by selling part of their remaining lease to the government. \u00a0This comes as the Lease Buyback Scheme (LBS) will now be extended to all HDB flats, including five-room and bigger units, to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111443,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-receive-average-lbs-proceeds-of-177000\/","url_meta":{"origin":101430,"position":3},"title":"Seniors receive average LBS proceeds of $177,000","date":"October 8, 2019","format":false,"excerpt":"\r The Ministry of National Development noted that most seniors \u2013 after taking up the Lease Buyback Scheme \u2013 have enough CPF RA savings \u201cto benefit from a lifelong income stream of about $1,000 per month on a household basis under CPF LIFE\u201d. With the Lease Buyback Scheme (LBS) enhanced\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99118,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-plans-to-buy-back-unsold-flats-due-to-ethnic-integration-policy\/","url_meta":{"origin":101430,"position":4},"title":"No plans to buy back unsold flats due to Ethnic Integration Policy","date":"October 4, 2018","format":false,"excerpt":"\r The policy was introduced in 1989 and ensures there is a balanced mix of ethnic groups in HDB estates. The government has no plans to buy back flats from homeowners who claim they are unable to sell their units due to the Ethnic Integration Policy (EIP), said National Development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113125,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-to-consider-suggestions-to-tackle-hdb-lease-decay\/","url_meta":{"origin":101430,"position":5},"title":"MND to consider suggestions to tackle HDB lease decay","date":"December 17, 2019","format":false,"excerpt":"\r The government will consider proposals and suggestions for external parties to manage HDB flat leases.\u00a0 Minister for National Development Lawrence Wong has responded to two separate policy proposals, saying that all alternative suggestions and ways to manage HDB flat leases will be considered by the government. Like many condominiums\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101430"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=101430"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101430\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=101430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=101430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=101430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}