Right-size with SHB
The Silver Housing Bonus (SHB), provides up to $20,000 in cash per household for elderly who right-size (to a 3-room or smaller flat), top up their CPF Retirement Accounts (RA), and join CPF LIFE.
| Criteria |
Eligibility |
| Age, Citizenship |
At least one owner is a Singapore citizen aged 55 and above |
| Income |
Gross monthly household income of $12,000 or less |
| Existing Property |
HDB flat (met Minimum Occupation Period for resale), or private property of Annual Value of $13,000 or less; and no concurrent ownership of second property |
| Property You Are Buying |
Smaller HDB flat (up to 3-room); and purchase price does not exceed selling price of existing property |
| Housing Transactions |
Booking of new HDB flat, or application to buy resale flat must be:
before sale of existing property; or within 6 months of completing sale of of existing property. |
Lease Buyback Scheme
Under the LBS, the household sells the tail-end lease of their flat to HDB and retains a lease ranging from 15 to 35 years. Households have to use their LBS proceeds to meet the CPF RA top-up requirements, and join CPF LIFE.
| Criteria |
Eligibility |
| Age, Citizenship |
All owners must have reached the eligibility age (currently set at age 65) or older, and at least one owner must be a Singapore citizen |
| Income |
Gross monthly household income of $12,000 or less |
| Flat type |
All flat types (excluding short-lease flats, HUDC and Executive Condominium units) |
| Property Ownership |
No concurrent ownership of second property |
| Minimum Occupation Period |
All owners have been living in the flat for at least 5 years |
| Minimum Lease |
At least 20 years of lease to sell to HDB |
Renting Out
You can rent out your whole flat if you have met the Minimum Occupation Period (MOP). Depending on the location, the median rents in 4Q 2016 ranged from $1,500 - $2,200 for a 3R flat; $1,800 - $2,750 for a 4R flat; $1,900 - $3,500 for a 5R flat; and $2,150 - $2,700 for an Executive flat. Alternatively, owners can rent out spare bedroom(s) if they own a 3R or bigger flat. The median rent for renting out one room in 4Q 2016 is $600.