New HDB scheme offers seniors more choices
ELDERLY flat buyers will soon have more options to age in place when the Housing Board's Two-Room Flexi scheme kicks in next month.
At least 40 per cent of the flats under the scheme in each Build-to-Order (BTO) project will be set aside for households aged 55 and above. This quota will be subject to a minimum of 100 units in each project, in order to ensure "adequate supply" for the elderly, said HDB yesterday.
Under the new scheme, existing studio apartment owners, including those who have not collected their keys, will also have the option of topping up their current 30-year lease by five, 10 or 15 years at any point in time. They can do so from April next year, at prevailing market rates.
Alternatively, they can apply for a 10-year extension upon the expiry of their 30-year lease.
Elderly applicants waiting for their new flats or studio apartments to be completed can also cancel their current applications and apply for a short-lease flat under the new scheme instead. Any forfeiture fees will be waived if they do so before Aug 19 next year.
The Two-Room Flexi scheme, which will take effect from next month's BTO flat launch onwards, merges and replaces the current studio apartment and two-room flat schemes.