Owners Opting to Sell Flat's Lease under HDB Lease Buyback Scheme and Whether Their Flats Will be Offered VERS

62 Mr Foo Cexiang asked the Minister for National Development (a) what is the number of HDB flat owners who opted to sell their flat's lease under the Lease Buyback Scheme for the period January to June 2025; and (b) whether these flat owners' HDB flats will still be eligible for the Voluntary Early Redevelopment Scheme (VERS) in the future whilst these flat owners still reside there.

Mr Chee Hong Tat: From January to June 2025, 1,170 senior households have joined the Lease Buyback Scheme (LBS). The scheme is designed to help seniors unlock the value of their homes by selling a portion of their flat's remaining lease to the Government while continuing to live in their flats. The proceeds are used to top up their Central Provident Fund (CPF) Retirement Accounts, and seniors receive a lifetime stream of monthly payouts via CPF LIFE to support their retirement needs.

Seniors who would like to supplement their retirement incomes should continue to consider LBS as a possible option, without worrying about whether their block will go through the Voluntary Early Redevelopment Scheme (VERS).

If a senior joins LBS and his block subsequently goes through VERS, the Government will ensure that he receives a fair package, which takes into account the value of the remaining retained lease of his flat.