In Singapore, the Housing and Development Board (HDB) is crucial in providing affordable housing solutions for its citizens. With the ageing population, HDB has implemented various schemes and programs to address the housing needs of the elderly.
In this article, we will explore the HDB Elderly Scheme and other housing options available for a senior citizen who’s a Singapore citizen or a Singapore permanent resident.
Singapore’s Housing and Development Board (HDB) and Its Functions
The Housing and Development Board (HDB) operates as a statutory board under the Ministry of National Development in Singapore. Its primary function is to provide affordable and quality public housing for Singaporeans. HDB develops and manages public housing estates, ensuring every citizen can access a comfortable and secure home.
HDB’s core responsibilities include planning and designing public housing estates, constructing and selling flats, and managing the leasing and resale of these properties. The board also implements various policies and programs to cater to the diverse housing needs of Singaporeans, including the elderly.
How HDB Helps the Ageing Population in Singapore
As Singapore’s population ages, HDB recognises the importance of providing suitable housing options for the elderly. The HDB Elderly Scheme is designed to address the specific needs of senior citizens, ensuring that they can age in place comfortably and safely.
Monetisation Options
Under the HDB Elderly Scheme, which is the Singapore government’s way of providing financial support for the elderly, senior citizens can opt for monetisation options such as renting out spare bedrooms or their entire flat. Specifically, seniors can supplement retirement income and alleviate financial burdens by applying to various monetisation options offered by HDB, which include the following:
Renting Out a Spare Bedroom or the Whole Flat
One popular option for elderly homeowners is to rent out a spare bedroom or their entire flat. This provides them with a steady stream of rental income, which can be used to support their daily expenses or save for future needs. Renting out a spare room can also offer companionship and social interaction for seniors living alone on their private property.
Before deciding to rent out a room or the entire flat, elderly homeowners need to familiarise themselves with the regulations and guidelines set by HDB. These include the eligibility conditions, maximum rental periods, and foreign renting restrictions. Engaging a licensed property agent can also help navigate the rental process and ensure compliance with HDB regulations.
Apply for the Lease Buyback Scheme
Another monetisation option available for elderly homeowners is the Lease Buyback Scheme. This scheme allows seniors to sell a portion of their flat’s lease back to HDB while retaining the right to live in the remaining portion. The proceeds from the sale are then used to supplement their retirement income.
To be eligible for the Lease Buyback Scheme, seniors must meet certain criteria, including being at least 65 years old, owning a 3-room or smaller flat, and having a remaining lease of at least 20 years. The scheme offers flexibility and financial security for elderly homeowners, allowing them to enjoy their retirement years without worrying about housing expenses.
Apply for the Silver Housing Bonus Scheme
The Silver Housing Bonus is a scheme introduced by HDB to encourage elderly homeowners to right-size their flats. Under this scheme, seniors who sell their larger flats and purchase a smaller one can receive a cash bonus of up to $20,000. The bonus serves as an incentive for seniors to move to more suitable housing options that better meet their needs.
To qualify for the Silver Housing Bonus, seniors must meet certain criteria, including being at least 65 years old, having an average monthly household income below a specified ceiling, and purchasing a smaller flat from the HDB resale market. The cash bonus can be used to offset the cost of the new flat or for other financial needs.
Improved Homes for Senior Citizens through the EASE Programme
To ensure the safety and comfort of elderly residents, HDB has implemented the Enhancement for Active Seniors (EASE) Programme. This program aims to provide elderly-friendly features and modifications to HDB flats, making them more accessible and conducive for ageing in place.
Under the EASE Programme, eligible elderly residents can enjoy subsidised installation of various enhancements, including slip-resistant flooring, grab bars, ramps, and handrails. These modifications help to prevent accidents and promote independent living for seniors. The programme also covers basic home improvement work costs, such as widening doors and installing non-slip tiles.
To qualify for the EASE Programme, residents must meet certain criteria, including being at least 65 years old, living in a 2-room or larger HDB flat, and having a household income below a specified ceiling.
The program offers peace of mind for elderly residents, allowing them to age in place safely. Learn more about the EASE Programme by clicking here.
Other Housing Options
While the HDB Elderly Scheme provides various options for senior citizens, other housing options are available to cater to the specific needs of the elderly population in Singapore. These options include short-lease 2-room Flexi flats, community care apartments, 3-room HDB flats, public rental flats, and senior group homes.
Short Lease 2-room Flexi Flat
Short lease 2-room Flexi flats are specifically designed for elderly residents who prefer a shorter lease period. These flats offer greater flexibility in terms of lease duration, allowing seniors to choose between a 15-, 20-, or 25-year lease. This option is suitable for those who do not require a long-term housing solution and prefer a shorter commitment.
Community Care Apartment
Community care apartments are purpose-built rental apartments for seniors who require more care and support. These apartments are equipped with senior-friendly features and are located within or near healthcare facilities, making it convenient for residents to access medical services. Community care apartments provide a supportive environment for seniors who may need assistance with daily activities.
3-Room HDB Flat
3-room HDB flats are popular among elderly residents who prefer a larger living space. These flats offer more room for seniors to accommodate their needs and lifestyles comfortably. With a 3-room flat, seniors can have separate bedrooms, a spacious living area, and a well-equipped kitchen. These flats are also suitable for couples who may require an extra room for visiting family members.
Public Rental
For elderly residents with limited financial means, public rental flats provide an affordable housing option. These flats are rented out by HDB at subsidised rates, making them accessible to low-income seniors. Public rental flats are equipped with basic amenities and are located within established HDB estates, ensuring that residents can access essential services and amenities.
Senior Group Home
Senior group homes are communal living arrangements specifically designed for elderly residents. These homes provide a supportive environment where seniors can live together and share common spaces and resources. A senior group home offers companionship and social interaction, promoting a sense of community and belonging among residents.
Alternatively, you can also look into bringing your elderly loved ones into elderly co-living apartments. Elderly co-living apartments, also known as senior co-housing, are intentional communities where residents live in private homes but share common spaces and resources.
Retire Genie: A Leading Provider of Senior Group Homes and Elderly Co-Living Apartment in Singapore
While senior co-living apartments promote a sense of community and independence, senior group homes provide a more intimate and home-like environment. The choice between the two options depends on individual preferences, needs, and budget considerations.
When choosing a senior group home or a co-living apartment for your elderly loved one, be sure to include Retire Genie at the top of your list.
Retire Genie is one of the leading providers of senior group homes and elderly co-living apartments in Singapore. We aim to provide a comfortable and engaging living environment for elderly individuals, ensuring they have access to the care services and support they need.
Final Words
Singapore’s HDB Elderly Scheme and other housing options provide a range of choices for senior citizens to meet their specific housing needs. Whether it is monetising their existing flat, right-sizing to more suitable accommodation, or accessing senior-friendly features and modifications, HDB ensures that elderly residents have appropriate housing options to age in place comfortably and securely in their golden years.
