The HDB Lease Buyback Scheme can be a federal government initiative which allows elderly HDB flat house owners in Singapore to sell a part of their flat's lease again to HDB to complement their retirement profits. To be eligible, all house owners needs to be at the very least sixty five decades old, as well as the flat need to have not less than 20 years of remaining lease. The gross month to month house profits for all entrepreneurs should not exceed $14,000. Under the scheme, HDB buys back a portion of the flat's lease, as well as the proprietor is then presented a contemporary lease of thirty yrs, or nearly ninety five decades, depending on their age. The proceeds from the sale are used to top up their CPF Retirement Account, which in turn provides a monthly income stream through CPF LIFE. The flat should be owner-occupied with the period of The brand new buy back scheme hdb 210 24 lease. The scheme offers a lump sum money bonus of nearly $twenty,000 for many who qualify, and it really is an alternative choice to downgrading to some smaller flat to monetize their present residence.