The HDB Lease Buyback Scheme is often a federal government initiative which allows elderly HDB flat house owners in Singapore to sell a portion of their flat's lease back again to HDB to supplement their retirement revenue. To generally be eligible, all proprietors need to be at least 65 several years outdated, and the flat will need to have no less than twenty years of remaining lease. The gross monthly home revenue for all house owners will have to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of the flat's lease, and the owner is then offered a refreshing lease of 30 a long time, or approximately ninety five several years, determined by their age. The proceeds with the sale are utilized to top rated up their CPF Retirement Account, which subsequently delivers a regular money stream as more info a result of CPF Everyday living. The flat must be operator-occupied for that length of the new lease. The scheme provides a lump sum cash reward of as many as $twenty,000 for individuals who qualify, and it really is an alternative to downgrading to a smaller flat to monetize their present residence.