Strategies to Ensure Retirement Adequacy as More HDB Flats Approach End of 99-year Leases

32 Ms Foo Mee Har asked the Minister for National Development as HDB flats approach the end of their 99-year leases, what strategies are available to Singaporeans who wish to monetise their "nest egg" in order to supplement their retirement needs.

Mr Lawrence Wong: There are various monetisation options for elderly flat owners to unlock the value of their flats to supplement their retirement needs. They can sell their flats in the resale market, right-size to a smaller flat, and apply for the Silver Housing Bonus. Alternatively, if they wish to retain their flat, they can sublet a spare bedroom or their whole flat or apply for the Lease Buyback Scheme. Housing and Development Board flats will continue to be a good store of value if flat buyers plan ahead and make prudent housing choices.