The HDB Lease Buyback Scheme is often a govt initiative that 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 homeowners needs to be a minimum of 65 yrs aged, and also the flat will need to have no less than twenty years of remaining lease. The gross monthly family cash flow for all house owners will have to not exceed $fourteen,000. Underneath the plan, HDB purchases again a portion of the flat's lease, and also the owner is then offered a refreshing lease of 30 several years, or approximately ninety five several years, determined by their age. The proceeds within the sale are utilized to major 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 bonus of as many as $twenty,000 for those who read more qualify, and it truly is a substitute for downgrading to some scaled-down flat to monetize their existing home.