Passing Thoughts

More Flexible Options, More Housing Choices!

With the new 2-room Flexi Scheme, which was recently announced families, singles and the elderly can look forward to more flexible housing options.

Merging the Studio Apartments and 2-room flat scheme, the new flexi scheme offers a wider variety of affordable housing – from 99-year flexi flats to flexi flats with shorter lease tenure options for the elderly.

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Elderly households will stand to benefit from the 2-room Flexi Scheme and a new Senior Priority Scheme

99-year Flexi Flat

If you are applying as a first or second-timer family, or as a first-timer single, and you earn up to $6,000 a month, you can buy a 2-room flat that comes with a 99-year lease from HDB under the new flexi scheme.

You can also continue to enjoy the existing priority schemes. These include the Parenthood Priority Scheme, Married Child Priority Scheme and Assistance Scheme for Second-Timers (Divorced/ Widowed Parents).

Check out the infographic below:

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Short-lease Flexi Flats for the Elderly

Elderly households, aged 55 years and above, will be able to buy the new flexi flat and choose a shorter lease option ranging from 15 to 45 years based on a 5-year increment.

At least 40% or a minimum of 100 2-room Flexi flats in a Build-To-Order project will be made available to you. In addition, you will stand to benefit from a new Senior Priority Scheme, where half of this quota will be set aside for you if you wish to live near your current home, or near your married child.

Check out the infographic below:

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Affordable prices

Prices will take into account the lease tenure, as well as whether you are a first-timer or second-timer buyer. Eligible first-timers will enjoy not only the generous subsidy, but also housing grants, making the new 2-room flexi flats even more affordable.

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Young couples and families too will have a chance to buy a 2-room flexi flat.

The new 2-room Flexi Scheme will be implemented from the September2015 Build-To-Order sales exercise. Do keep a lookout for the implementation details soon! For more information, go to link.

By Rosita Ithnain
August 22, 2015

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