25 Feb '14, 3am

#GlobalREBubble #Singapore ''Bigger Flats Included In Lease Buyback Scheme' via @SGPropertyGuru

In order to allow seniors to age in place and provide them with more financial options, the government may expand the coverage of the lease buyback scheme to include larger HDB flats . Introduced in 2009 and tweaked last year, the scheme allows homeowners to sell part of their lease back to the government for cash. But at present, it is only offered to Singaporeans living in three-room and smaller flats. This move comes despite the low number of takers. In total, about 240 seniors applied for the scheme in 2012 compared to just 471 between 2009 and 2012. Speaking to the media, National Development Minister Khaw Boon Wan said: “I do not regard the low take-up rate as a failure. I would just say that what it means is, people are not financially desperate to need to take advantage of those options.” “The options are there for those who need it. But that doesn’t mean that we w...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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