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More housing options for elderly under new 2-room Flexi scheme

SINGAPORE — A new scheme to let elderly buyers of two-room public flats choose from varying lease tenures and flat fittings will begin from next month, in the Build-to-Order (BTO) exercise for Punggol and Bidadari.

An artist's impression of a two-room flat. Photo: HDB

An artist's impression of a two-room flat. Photo: HDB

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SINGAPORE — A new scheme to let elderly buyers of two-room public flats choose from varying lease tenures and flat fittings will begin from next month, in the Build-to-Order (BTO) exercise for Punggol and Bidadari.

Announced by the Housing and Development Board (HDB) today (Aug 19), the new 2-room Flexi Scheme is a hybrid of the existing Studio Apartment (SA) and 2-room schemes, doing away with the overlaps between the two schemes and addressing the need for flexibility for buyers.

Apart from offering those aged 55 and over a range of shorter leases, the scheme will also continue to offer two-room flats at 99-year leases to first-timer and second-timer families, and first-timer singles.

In the next five years, more than 70 BTO projects will have such 2-room Flexi flats, and at least 40 per cent of the 2-room Flexi flats in a project will be allocated for the elderly. And under a new Senior Priority Scheme, half of this quota will be set aside for the elderly who apply for a unit to live near their current flat or near their married child.

Provisions were also introduced for current homeowners in tandem with the changes. Those who already own SAs will be able to enjoy more flexibility in extending their leases, by five, ten, or 15 years. Currently they can only apply for a 10-year extension on their flats.

Those who took up the Lease Buyback Scheme (LBS) before it was enhanced in April can also apply to top-up their 30-year lease by another five years at the prevailing market value from April next year.

And to give older buyers more help, second-timers aged 55 and above who sold their first subsidised flat before Mar 3, 2006 will not have to pay the interest accrued on their resale levy when they go for a new two- or three-room flat. This option will be implemented from next month’s BTO exercise.

As for those who are waiting for their flats or SAs, they can apply for the short-lease Flexi flats without having to pay a forfeiture fee, if they cancel their new flat or SA application before Aug 19 next year.

The revamped scheme was first mooted by National Development Minister Khaw Boon Wan at the Committee of Supply debate in March this year. Since then, the ministry also gathered feedback and suggestions from the public and incorporated them into the scheme. 

The short-lease option is available to Singaporeans who are at least 55 years old, regardless of whether they have enjoyed housing subsidies previously or own a private residential property. This includes elderly Singaporeans who are not eligible to buy a 99-year 2-room Flexi flat, first-timer singles earning more than S$5,000, second-timer singles, households who have enjoyed two housing subsidies and private property owners. The prices they pay will vary accordingly. These flats cannot be sold on the resale market or sublet.

Those who buy the shorter-lease flats can now also choose from three packages of optional fittings for the flat. A buyer can choose just flooring, or a package with sanitary fittings. The third package includes lighting, kitchen cabinets and fixtures, built-in wardrobes, and a water heater, and buyers who choose this must choose the package with flooring as well.

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