Extending 3-room HDB Flats to Applicants Below Age 55 with Bigger Families and Less Financial Resources

22 Mr Kwek Hian Chuan Henry asked the Minister for National Development whether HDB will consider allowing applicants who have not reached the age of 55 but have bigger families and in financially tight situations to purchase not just 2-room Flexi flats, but also new 3-room HDB flats.

Mr Lawrence Wong: Seniors aged 55 and above are allowed to buy new 2-room Flexi flats on shorter leases, to provide them with an additional option for right-sizing into a home to live out their retirement years. Buyers of these short-lease flats must choose a lease length that can cover them and their spouse up to the age of at least 95, so that they can enjoy a home for life. This is also the reason why shorter leases are not available to younger buyers, as such buyers are more likely to outlive the lease.

Buyers who prefer a larger 3-room flat on a shorter lease can buy one on the open market, where there is a wide range of resale flats with varying leases that can meet different budgets and needs. In addition, they can enjoy a Proximity Housing Grant of up to $30,000 if they purchase a flat to live with or near their parents or married children.