More elderly Singaporeans opting for two-room flexi scheme

Many elderly Singaporeans have chosen the two-room flexi scheme, say the latest figures from Housing and Development Board (HDB). Buoyed by the response, the Board has decided to launch more Build-To-Order (BTO) projects with such flats.

HDB flats
HDB has got an encouraging response from the elderly Singaporeans for the two-room flexi scheme. Photo courtesy: hdbdig.com.sg

Moreover, 85 per cent of the elderly buyers who have booked flats have opted for shorter lease. A whopping 87 per cent of the 6,070 two room Flexi flats were booked till January under the BTO and Sale of Balance flats. Of these, about half the buyers numbering 2,467 were aged 55 and above and 2,101 of them made choice for shorter leases.

HDB said, “For elderly buyers, the scheme means being able to have a new home even as they monetise more from their existing property.”

HDB has termed the response to the scheme ‘very encouraging’, particularly among the elderly buyers and will launch more BTO projects with two-room flexi flats in different locations of the country.

Author
Ashraf Jamal
Ashraf Jamal – Senior Writer

Ashraf Jamal brings a rare depth to writing equipped with a degree in journalism, a postgraduate degree in political science, and a degree in law from the Allahabad University. His experience includes editing and publishing the Northern India Patrika and writing for Times of India for almost a decade covering just about any topic under the sun including NRIs and Indian diaspora.

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