Summary
HDB flat owners aged 65 and above can sell the tail end of their flat's lease back to the Housing & Development Board (HDB) and keep living in the flat under the Lease Buyback Scheme (LBS). The proceeds first top up the owners' CPF Retirement Accounts (RA), which can then provide a monthly income for life through CPF LIFE. HDB's terms add a cash bonus of up to S$30,000 for 3-room and smaller flats, S$15,000 for 4-room flats and S$7,500 for 5-room and larger flats.
As of end-2025, around 16,000 households have participated since 1 March 2009, and about nine in ten received S$100,000 to S$300,000, the Ministry of National Development (MND) said in February 2026. Between 2019 and 2023, average proceeds plus bonus came to about S$212,000 per household for a 4-room flat and S$168,000 for a 3-room flat, MND said in an earlier reply.
Who qualifies
HDB lists these conditions:
- All owners are 65 or older, and at least one is a Singapore Citizen.
- Gross monthly household income is S$16,000 or less.
- The household owns no private residential property and no more than one non-residential private property.
- All owners have lived in the flat for at least five years, or 10 years for a Plus or Prime flat.
- At least 20 years of lease remain to sell to HDB.
All flat types qualify except short-lease flats, HUDC flats and executive condominium units, according to HDB.
How much lease you keep
The lease you keep depends on the age of the youngest owner.
| Youngest owner's age | Lease you can keep |
|---|---|
| 65 to 69 | 30 or 35 years |
| 70 to 74 | 25, 30 or 35 years |
| 75 to 79 | 20, 25, 30 or 35 years |
| 80 and above | 15, 20, 25, 30 or 35 years |
Source: HDB, Understanding the LBS.
Where the money goes
For applications received from 1 January 2026, HDB requires the proceeds to top up each owner's RA to these levels first:
| Owner's age | One owner | Two or more owners (each) |
|---|---|---|
| 65 to 69 | S$220,400 | S$110,200 |
| 70 to 79 | S$210,400 | S$105,200 |
| 80 and above | S$200,400 | S$100,200 |
Sources: HDB, Understanding the LBS; LBS terms and conditions (December 2025).
After the required top-up, a household can keep up to S$100,000 of the proceeds in cash. Anything beyond that must first raise each owner's RA to the current Full Retirement Sum (FRS) before further cash is paid out.
An owner with at least S$60,000 in the RA after the top-up uses the full RA savings to buy a CPF LIFE plan. Owners aged 80 and above cannot join CPF LIFE; HDB's terms say they receive payouts under the Retirement Sum Scheme instead.
The LBS bonus
A household receives the full cash bonus if the total top-up to the owners' RAs is S$60,000 or more. Below that, the bonus is pro-rated: S$1 for every S$2 topped up for 3-room or smaller flats, S$1 for every S$4 for 4-room flats and S$1 for every S$8 for 5-room or larger flats.
The bonus is shared among eligible elderly Singapore Citizen owners and their Singapore Citizen spouses in proportion to their top-ups, and each household can receive it only once. A household whose owners have all reached the FRS before joining, and so need no top-up, gets no bonus.
HDB's worked example
Illustration based on HDB's published example. A married couple, both 65 and Singapore Citizens, own a fully paid 4-room flat worth S$450,000 with 65 years of lease left. They keep 30 years and sell the last 35 years to HDB for S$190,000. Their RAs hold S$20,000 and S$20,400, so they need S$90,200 and S$89,800 to reach S$110,200 each.
- RA top-ups: S$180,000 in total, after which both owners join CPF LIFE.
HDB's example stops at the top-up step. Final cash and bonus amounts depend on each household's figures.
What you give up
HDB's terms set limits on a flat sold under the scheme:
- It cannot be sold on the open market. Owners who want to leave must surrender or transfer the flat with HDB's approval, and refund CPF from the proceeds.
- The whole flat cannot be rented out. Spare bedrooms can be, except in 1- and 2-room flats, under HDB's usual rules for renting out rooms.
- Owners must wait five years from completion before applying for another subsidised HDB flat.
- Owners bear their own legal and other costs, and may apply to pay them from CPF.
What this means for Singapore flat owners
The scheme turns part of a flat's value into retirement income without a move. The cost is flexibility: a flat with a shorter lease that cannot be sold on the open market is a different asset from one that can. Households that expect to move, to right-size or to keep the full lease in the family face a different calculation from those who plan to stay.
The sums are material. MND's averages for 2019 to 2023 were about S$98,000 for 1-room flats, S$153,000 for 2-room, S$168,000 for 3-room, S$212,000 for 4-room and S$261,000 for 5-room and bigger flats, including the bonus. For owners whose RAs sit well below the required level, most of the proceeds go into CPF rather than cash, as HDB's example shows.
Education only — not tax, legal or investment advice. Confirm with a licensed professional.
What to do next
- Check the current eligibility rules and top-up table on HDB's Lease Buyback Scheme page before you apply: https://www.hdb.gov.sg/managing-my-home/retirement-planning/monetising-flat-for-retirement/lease-buyback-scheme-lbs
- Get each owner's RA balance from CPF and work out the shortfall to the required level, since that decides how much of the proceeds you receive in cash.
- Ask a verified financial adviser or property lawyer to compare the scheme with selling or right-sizing: https://proprkey.com/en/pros?segment=legalFinance
- If you are weighing a sale instead, see what homes are listed for: https://proprkey.com/en/properties?segment=seller&mode=buy