The HDB Lease Buyback Scheme is usually a govt initiative that allows elderly HDB flat house owners in Singapore to sell a part of their flat's lease back again to HDB to supplement their retirement cash flow. To generally be eligible, all homeowners need to be at least 65 several years aged, and the flat will need to have at the least twenty years of remaining lease. The gross every month home revenue for all homeowners ought to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of the flat's lease, as well as operator is then given a new lease of 30 many years, or around 95 a long time, according to their age. The proceeds through here the sale are accustomed to prime up their CPF Retirement Account, which consequently supplies a regular monthly cash flow stream by way of CPF Daily life. The flat have to be proprietor-occupied for your duration of The brand new lease. The plan delivers a lump sum funds bonus of as much as $20,000 for people who qualify, and it is actually a substitute for downgrading into a more compact flat to monetize their existing property.