The HDB Lease Buyback Scheme is often a govt initiative that allows elderly HDB flat house owners in Singapore to promote a part of their flat's lease again to HDB to complement their retirement profits. To be eligible, all homeowners needs to be a minimum of 65 yrs aged, and also the flat have to have not less than twenty years of remaining lease. The gross month-to-month family cash flow for all house owners will have to not exceed $fourteen,000. Under the plan, HDB purchases again a percentage of the flat's lease, and the owner is then offered a refreshing lease click here of 30 several years, or approximately ninety five several years, determined by their age. The proceeds within the sale are utilized to top rated up their CPF Retirement Account, which subsequently delivers a every month money stream as a result of CPF Everyday living. The flat needs to be operator-occupied for that length of the new lease. The scheme provides a lump sum cash reward of as many as $twenty,000 for individuals who qualify, and it really is an alternative to downgrading to a lesser flat to monetize their present house.