Statistics of Retirees Downgrading to HDB Flats from Private Properties

34 Mr Chong Kee Hiong asked the Minister for National Development in each year of the last two years, how many retirees have downgraded from private properties to HDB flats.

Mr Desmond Lee: There were about 370 households each in 2022 and 2023, where: (a) all buyers and their spouses in a flat purchase were aged 55 and above, (b) the household had owned private residential property at the time of the flat application or had disposed of one in the past 30 months, and (c) declared that they did not earn an income.

These households bought new short-lease 2-room Flexi flats or Community Care Apartments, or non-subsidised resale flats.