In a recent Straits Times
report, it said that more senior citizens are using the Lease Buyback Scheme (LBS). About 2,860 seniors used the scheme in 2022, up from 2,790 the year before. To be clear, these are still rookie numbers – 2,860 is a raindrop in a monsoon, when we consider the sheer number of seniors in HDB flats out there. The LBS is, to be blunt, still not the most popular choice. But I’m going to go out on the proverbial limb and say that not only
will it grow in popularity; it may one day end up being a norm (also, as they improve it). Here’s why:
A quick rundown of the LBS
The full details of the LBS can be found in this article. But as a quick summary: this is a way for eligible Singaporeans to sell back the unused portion of their flat’s lease, to top up their CPF (and maybe get some bonus cash on top of it).