The HDB Lease Buyback Scheme is usually a govt initiative that permits aged HDB flat entrepreneurs in Singapore to promote a percentage of their flat's lease back to HDB to dietary supplement their retirement income. For being qualified, all owners has to be no less than sixty five many years previous, as well as flat should have at the least twenty years of remaining lease. The gross every month household revenue for all homeowners ought to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of the flat's lease, and also the owner is then provided a clean lease of thirty yrs, or as many as ninety five decades, depending on their age. The proceeds in the sale are used to leading up their CPF Retirement Account, which in turn offers a month-to-month revenue stream by CPF Lifestyle. The flat needs to be owner-occupied with the duration of The brand new lease. The plan delivers a lump sum cash bonus here of as much as $20,000 for many who qualify, and it really is an alternative choice to downgrading to some smaller sized flat to monetize their existing assets.