The HDB Lease Buyback Plan is actually a authorities initiative which allows elderly HDB flat homeowners in Singapore to provide a portion 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 no less than twenty years of remaining lease. The gross monthly home revenue for all house owners ought to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of read more the flat's lease, and the owner is then offered a refreshing lease of 30 a long time, or approximately 95 a long time, dependant upon their age. The proceeds with the sale are accustomed to top rated up their CPF Retirement Account, which consequently supplies a regular profits stream by CPF Lifetime. The flat need to be proprietor-occupied to the length of the new lease. The plan presents a lump sum dollars reward of approximately $20,000 for those who qualify, and it is a substitute for downgrading to your more compact flat to monetize their current property.