Review Lease Period of Flexi Scheme for Flats

69 Mr Zainal Sapari asked the Minister for National Development whether HDB will review the 2-room Flexi Scheme to allow the lease period to cover the elderly citizens and their spouses up to the age of 85 years old instead of the current 95 years old.

Mr Lawrence Wong: Under the 2-room Flexi Scheme, elderly flat buyers aged 55 and above can choose a lease period of between 15 and 45 years, in five-year increments, as long as the lease can cover them and their spouse up to the age of at least 95 years. This requirement helps to address concerns about these elderly flat owners outliving their flat leases and gives them better assurance that the flat can last them for the rest of their life.

There are currently no plans to reduce this requirement to age 85 years. Households which have alternative housing arrangements and no longer need their short-lease 2-room flexi flat can return the flat to HDB and receive a refund of the value of the unused portion of the lease.