{"id":97608,"date":"2018-09-11T10:22:20","date_gmt":"2018-09-11T03:22:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-have-options-to-unlock-value-of-hdb-flats\/"},"modified":"2018-09-11T11:04:01","modified_gmt":"2018-09-11T04:04:01","slug":"seniors-have-options-to-unlock-value-of-hdb-flats","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-have-options-to-unlock-value-of-hdb-flats\/","title":{"rendered":"Seniors have options to unlock value of HDB flats"},"content":{"rendered":"


\nSeniors may choose to rent our a spare bedroom or sell part of their lease back to HDB.
\nHDB 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 Minister Lawrence Wong.
\n\u201cFor example, seniors can rent out a spare bedroom or right-size to a smaller flat and apply for the Silver Housing Bonus (SHB). They can also sell part of their lease to HDB under the Lease Buyback Scheme (LBS). We recently announced the extension of LBS to five-room and larger flats so that more Singaporeans can benefit from the scheme.
\n\u201cGovernment upgrading programmes will also help to maintain the value of the HDB flats, and ensure they remain safe and liveable through their lifespan,\u201d said Wong during a parliamentary session on Monday (10 Sept).
\nFind\u00a0HDB flats for sale\u00a0or read our\u00a0HDB guides\u00a0and\u00a0BTO guides
\nIn line with this, he revealed that the authorities will carry out the Home Improvement Programme (HIP) for the next batch of HDB flats constructed from 1987 to 1997. They will also implement a second round of HIP upgrading when the properties are 60 to 70 years old.
\nWong said this in response to Marsiling-Yew Tee GRC MP Alex Yam Ziming, who asked whether the ministry can clarify what HDB flat owners at different life stages should do to ensure they have a home for life and also an adequate nest egg for retirement, in light of the various new initiatives on public housing.
\nWong noted that the authorities have put in place policies to help Singaporeans meet their housing needs at different life stages.
\nFor instance, the government provides generous housing grants to young citizens buying their first HDB flat, and such homes are sold at subsidised prices. Thereafter, some families may opt to move to a bigger flat, or live close to their children or parents.
\n\u201cThey should be in a good position to do so, as they would have enjoyed some appreciation from their first flat.\u00a0 We also have schemes to help them live near their parents or married children, such as the Proximity Housing Grant, which was enhanced earlier this year,\u201d added Wong.
\nCan you afford an HDB flat? Check your\u00a0affordability\u00a0now.\u00a0
\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…Seniors have options to unlock value of HDB flats<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Seniors may choose to rent our a spare bedroom or sell part of their lease...<\/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-97608","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-pok","jetpack-related-posts":[{"id":101430,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-provide-more-help-to-seniors-looking-to-unlock-flats-value\/","url_meta":{"origin":97608,"position":0},"title":"HDB to provide more help to seniors looking to unlock flat\u2019s value","date":"November 19, 2018","format":false,"excerpt":"\r More personalised information could soon be provided to help seniors make better retirement decisions, such as the estimated proceeds from the sale of their flats. Unlocking the value of one\u2019s HDB flat can prove to be a complex task, wrote National Development Minister Lawrence Wong in a blog post.\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":97608,"position":1},"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":114728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-scrap-re-offer-of-balance-flats-exercise\/","url_meta":{"origin":97608,"position":2},"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":111443,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-receive-average-lbs-proceeds-of-177000\/","url_meta":{"origin":97608,"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":113125,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-to-consider-suggestions-to-tackle-hdb-lease-decay\/","url_meta":{"origin":97608,"position":4},"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":[]},{"id":49789,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wong-not-all-old-hdb-flats-are-eligible-for-sers\/","url_meta":{"origin":97608,"position":5},"title":"Wong: Not all old HDB flats are eligible for SERS","date":"March 27, 2017","format":false,"excerpt":"\r The vast majority of HDB flats will see their leases run out, with the flats returned to the government. Do not assume that all old HDB flats are automatically eligible for the Selective En bloc Redevelopment Scheme (SERS), cautioned National Development Minister Lawrence Wong in a blog post last\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\/97608"}],"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=97608"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/97608\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=97608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=97608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=97608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}