What are right-sizing, the Lease Buyback Scheme and the other schemes for older owners?

This page covers 5 HDB options for older flat owners, from the Silver Housing Bonus to Community Care Apartments, one section each.

Reviewed by the Swee Homes data desk on 7 Oct 2026. Sources: HDB, MND, MOH and HDB, 13 Jul 2026. Next check due 5 Jan 2027.

The options HDB lists

Right-sizing means moving to a smaller flat.

HDB lists these housing monetisation options for flat owners: Silver Housing Bonus (SHB), renting out your flat or spare bedroom, and the Lease Buyback Scheme (LBS). The SHB amounts and CPF Retirement Account rules on HDB's page apply from 1 December 2025.

This page also covers two flats for older buyers: the short-lease 2-room Flexi flat and Community Care Apartments.

Silver Housing Bonus (SHB)

The Silver Housing Bonus (SHB) provides support to seniors who right-size to a 3-room or smaller HDB flat to supplement their retirement income. At least 1 owner must be a Singapore Citizen aged 55 or above, and the bonus requires a net increase in the owner's CPF Retirement Account.

From 1 December 2025 the maximum SHB is $40,000 per household: up to $30,000 based on the net increase committed to the CPF Retirement Account (capped at $60,000 per household), plus an additional $10,000 for right-sizing to a 2-room or smaller flat, including a Community Care Apartment. The amount depends on the existing property and the next flat; HDB's page has the full table.

Silver Housing Bonus: who can apply

Eligibility for the Silver Housing Bonus is assessed at the point of SHB application. The gross monthly household income must be $16,000 or less.

Existing property: an HDB flat that has met the minimum occupation period for resale, or a private residential property with an Annual Value (AV) of up to $31,000. You must not concurrently own or have interest in a private residential property, or own or have interest in more than 1 non-residential property. Next property you are buying: a 3-room flat (excluding 3-room terrace), or a 2-room or smaller flat including a Community Care Apartment.

You must have positive net sale proceeds. Sale proceeds is the selling price of the existing residential property less any outstanding housing loan on it, the purchase price of the next flat, the resale levy payable (if applicable) and the subsidy recovery (if applicable) for Plus and Prime flats.

The booking of the new HDB flat, or the submission of the flat application to buy a resale flat, must be either before the sale of the existing residential property or within 12 months of completing the sale of the existing residential property.

Silver Housing Bonus: the Retirement Account commitment

The bonus follows what the household commits to its CPF Retirement Account after the move.

To qualify for the SHB, you commit to a net increase of up to $60,000 in your CPF Retirement Account (RA) after right-sizing, with the sum going towards your retirement payouts. The net increase to commit depends on the net sale proceeds and is capped at $60,000 per household. It is further capped by the prevailing Full Retirement Sum (FRS). You can use your CPF housing refunds, if sufficient, and may no longer need to make the top-up in cash.

You receive an SHB amount of $30,000 per household if you commit to a net increase of $60,000 in your CPF RA after right-sizing. If the amount committed is less than $60,000, you receive a pro-rated cash bonus. The additional $10,000 for right-sizing to a 2-room or smaller flat, including a Community Care Apartment, is not pro-rated and applies regardless of the amount you commit to your CPF RA.

The pro-rating rate depends on the existing property. For an existing HDB flat, or a private residential property with an AV of $21,000 or less, the cash bonus is pro-rated at $1 for every $2 committed towards the CPF RA, up to $30,000. For a private residential property with an AV between $21,000 and $31,000, it is pro-rated at $1 for every $6 committed, up to $10,000.

Silver Housing Bonus: steps to apply

The steps run in the order HDB gives them. First the HFE letter, because the SHB sits on top of an ordinary flat purchase.

You must meet the eligibility conditions to buy an HDB flat and obtain a valid HDB Flat Eligibility (HFE) letter before you may apply to buy a flat from HDB or before you obtain an Option to Purchase (OTP) from a flat seller. A valid HFE letter is required when both you and the seller submit the resale application to HDB.

Then both housing transactions, inside the timeframe set out under eligibility. The SHB application itself comes last.

You will be informed of the SHB application procedure during the completion appointment of your second housing transaction (sale or purchase). You must submit your application for the SHB within 1 year from the legal completion date of the second housing transaction.

Worked example: the Silver Housing Bonus when the full commitment is not made

This example applies HDB's pro-rating rule. It is arithmetic, not an estimate for any household, and HDB's own page has the full table and its worked cases.

Take a household whose existing property is an HDB flat and whose next flat is a 3-room flat. Its net sale proceeds are positive, so it meets that condition. It commits a net increase of $40,000 to its CPF Retirement Account, using CPF housing refunds. The full commitment is $60,000, so the bonus is pro-rated. At $1 of bonus for every $2 committed, $40,000 earns $20,000, against $30,000 for the full commitment.

Change one thing: the next flat is a 2-room Flexi flat. The pro-rated part stays at $20,000. The additional $10,000 for a 2-room or smaller flat is not pro-rated, so the total is $30,000.

Change the existing property instead: a private residential property with an Annual Value between $21,000 and $31,000, a 3-room next flat and a commitment of $24,000. That band pro-rates at $1 for every $6, so the bonus is $4,000. With a 2-room next flat the additional $10,000 is added and the total is $14,000.

Committing more than the cap does not raise the bonus. For an existing HDB flat the commitment-based part never exceeds $30,000, however much is committed above $60,000.

With two owners, HDB's own examples work out each owner's bonus on that owner's committed amount and add the two for the household total.

Lease Buyback Scheme (LBS)

Through the Lease Buyback Scheme (LBS), you sell part of your flat's lease to HDB and keep living in the flat for the lease you retain. The proceeds top up your CPF Retirement Account so you can join CPF LIFE for a monthly income for life. All owners must have reached the eligibility age (currently 65) and at least 1 owner must be a Singapore Citizen.

During the LBS lease period the lease is non-transferable on the open market: you may not sell the flat on the open market or rent out the whole flat.

Lease Buyback Scheme: who can apply

Beyond the age and citizenship conditions: gross monthly household income of $16,000 or less; all flat types, excluding short-lease flats, HUDC and Executive Condominium units; no concurrent ownership of a private residential property (this includes a mixed-use or HDB shop with living quarters) and no more than one non-residential private property; all owners have been living in the flat for at least 5 years, or 10 years for Plus and Prime flats; and at least 20 years of lease to sell to HDB.

Lease Buyback Scheme: the bonus, the CPF top-up and the lease you keep

A household that sells the tail-end lease of a 3-room or smaller flat, a 4-room flat, or a 5-room or bigger flat to HDB receives an LBS bonus of up to $30,000, $15,000 or $7,500 respectively, depending on the top-up to the CPF Retirement Account. The household receives the full bonus if the total top-up to the owners' RA is $60,000 or more. Otherwise the bonus is pro-rated at $1 for every $2 of top-up for 3-room or smaller flats, $1 for every $4 for 4-room flats, or $1 for every $8 for 5-room or bigger flats. There is no LBS bonus if all owners have reached the Full Retirement Sum before joining and do not need to top up.

For applications received from 1 January 2026, the owners use the net proceeds to top up the CPF RA. Flat owner aged 65 to 69: $220,400 for a household with 1 owner, or $110,200 each for 2 or more owners. Aged 70 to 79: $210,400, or $105,200 each. Aged 80 and above: $200,400, or $100,200 each. A single owner tops up to the current age-adjusted Full Retirement Sum; each owner in a household of 2 or more tops up to the current age-adjusted Basic Retirement Sum, using his or her share of the proceeds.

After topping up the RA to the specified requirement, the household may retain the proceeds in cash, up to a maximum of $100,000 per household. Any remaining proceeds must first be used to top up each owner's RA to the current Full Retirement Sum before the balance can be kept in cash.

Your full RA savings are used to buy a CPF LIFE plan if you have at least $60,000 in your RA after the top-up. You are not eligible to join CPF LIFE if you are aged 80 and above.

The household chooses the length of lease to retain, based on the age of the youngest owner, and the duration retained determines the net proceeds unlocked. Youngest owner aged 65 to 69: minimum 30 years, other option 35. Aged 70 to 74: minimum 25 years, other options 30 and 35. Aged 75 to 79: minimum 20 years, other options 25, 30 and 35. Aged 80 and above: minimum 15 years, other options 20, 25, 30 and 35.

Lease Buyback Scheme: steps to apply and fees

To find out more about the LBS, book an appointment with an HDB Branch: log in with Singpass, choose 'Make a new appointment', select 'Lease Buyback Scheme' then 'Enquiry', choose a date and time and confirm. Attend with all co-owners. At the appointment HDB explains the monetisation options, explains the LBS in detail and helps calculate the estimated total payout and monthly income. If you decide to apply, HDB assists you to make an application.

After the application is submitted, HDB appoints a valuer from its Panel of Private Valuers to value the flat. HDB then arranges a financial counselling session with you and your family to give the actual total payout and monthly income, where you confirm whether to proceed. If you proceed, HDB invites you to sign the legal documents in approximately 2 months, and on that day issues a cheque for any excess above the required RA top-up (if applicable). The LBS bonus is credited to your bank account and the monthly income starts in about 1 to 2 months after the LBS transaction is completed.

Fees for an LBS application: an administrative charge of $100 (inclusive of GST) and legal fees of about $300 to $500, which vary by flat type and market value of the flat. Both are deducted from the proceeds of the sale of the tail-end lease.

Lease Buyback Scheme: ending the lease early and later life events

If you terminate the LBS lease prematurely, you return the flat to HDB and receive a refund for the remaining lease, pro-rated on a straight-line basis; your CPF LIFE plan continues to provide a lifelong monthly income. If you outlive the lease, HDB looks at your circumstances, such as family support, health condition and financial status, and works out an appropriate housing arrangement with you and your family. If an owner passes away within the lease period, a spouse or child living in the flat may live there for the balance of the lease subject to eligibility conditions, or return the flat.

How the Silver Housing Bonus and the Lease Buyback Scheme fit together

Flat owners may choose to take up more than one housing monetisation option, if eligible. Flat owners may enjoy either the SHB or the LBS bonus but not both.

HDB sets the options side by side in one table.

HDB's summary table of the four options, in the order Silver Housing Bonus, renting out your flat, renting out your spare bedroom, Lease Buyback Scheme. Need to move out of your current home: yes, yes, no, no. Need to buy another flat: yes, no, no, no. Need to top up the CPF RA: yes, no, no, yes. Receive lump sum proceeds: yes after the CPF top-up, no, no, yes after the CPF top-up. Receive a cash bonus: yes up to $40,000 based on the net increase in the CPF RA, no, no, yes up to $30,000 based on the CPF top-up and flat type. Receive monthly income: yes from the CPF payout eligibility age through joining CPF LIFE, yes, yes, yes through joining CPF LIFE.

The two bonuses are alternatives, but the options themselves can follow one another.

Flat owners may take up more than one option over time. In HDB's example, Mr A received an SHB of $30,000 when he bought a 3-room flat and topped up his CPF RA. Five years later he rented out the flat to receive monthly income on top of his CPF LIFE payout and stayed with his children.

Both bonuses are tied to the Retirement Account, though they measure it differently. The SHB counts the net increase the household commits after the move. The LBS counts the top-up the owners make to the retirement sum for their age. HDB does not rank the options, and neither does this page.

Renting out your flat or a spare bedroom

HDB lists renting out your flat (for owners who move to stay with family) and renting out your spare bedroom(s) (for owners who keep living in the flat) as housing monetisation options that give monthly income. HDB's table shows neither needs a CPF Retirement Account top-up.

Renting out the whole flat: who can and the steps

Singapore Citizens who have fulfilled the Minimum Occupation Period can rent out their flats. If the non-citizen quota for renting out of flats is reached, the flat can only be rented to Singaporeans and Malaysians. Owners should check that prospective tenants meet HDB's eligibility criteria before proceeding.

You must obtain HDB's approval before you rent out your flat, through MyHDB Page or the MyHDB mobile app, and an administrative fee of $18 applies for each application. If the owner is overseas during the rental period, a certified true copy of a Power of Attorney lodged with the High Court must be submitted with the application. The renewal of an existing approval is considered a new application.

Flat owners must notify HDB of any changes in the rental within 7 days of their occurrence, including changes to the tenants' particulars or when the tenants move out. For new tenants, the owner must obtain HDB's approval for the change before the tenants move into the flat.

Renting out spare bedrooms: who can and the steps

You can rent out spare bedrooms if you own a 3-room or bigger flat; owners of 1-room and 2-room flats are not allowed to rent out a bedroom. A 3-room flat may rent out 1 bedroom, with a maximum of 6 occupants in the flat. A 4-room or bigger flat may rent out 2 bedrooms, with a maximum of 8 occupants, reverting to a maximum of 6 for a rental period extending beyond 31 December 2028. Occupants include owners, authorised occupiers and tenants. Only bedrooms originally constructed by HDB can be rented out, not partitioned rooms.

You must seek HDB's approval through MyHDB Page or the MyHDB mobile app before the tenancy starts, providing your tenants' particulars. An administrative fee of $9 for each bedroom is payable upon approval. After the rooms are rented, notify HDB within 7 days of any termination or renewal of the rental or change of tenants, and obtain HDB's approval before a new tenant moves in.

Short-lease 2-room Flexi flat

Short-lease 2-room Flexi flats are meant for seniors. Buyers must be Singapore Citizens, and all buyers and their spouses must be at least 55 years old at the time of HFE letter application. The lease runs from 15 to 45 years in 5-year increments.

A short-lease 2-room Flexi flat cannot be sold on the open market. If you no longer wish to live in it or become ineligible to do so, it must be returned to HDB, which pays the value of the unused portion of the lease.

Short-lease 2-room Flexi flat: who can buy and the steps

For both the short-lease 2-room Flexi flat and the Community Care Apartment, all buyers and their spouses must be at least 55 years old at the time of HFE letter application.

A short-lease 2-room Flexi flat or Community Care Apartment can be bought on your own or as a household with your fiancé/fiancée or spouse, your parent(s) or child(ren), your orphaned and single siblings, your non-resident spouse, or other single citizens. All buyers must be Singapore Citizens, except that a fiancé/fiancée or spouse must be an SC or Singapore Permanent Resident, and at least 1 parent or child, or 1 orphaned sibling, must be an SC or SPR.

For both the short-lease 2-room Flexi flat and the Community Care Apartment, the monthly household income ceiling is $16,000. The chosen lease must be able to last all buyers and their spouses until at least age 95, computed at the time of flat application.

If you or any person listed in the HFE letter application owns or has an interest in any HDB flat, you must dispose of that interest within 6 months of completing your flat purchase, based on the legal completion date of the disposal. The same 6 months applies to any local or overseas private residential property, and to non-residential properties beyond the first.

You are not eligible to buy a short-lease 2-room Flexi flat or Community Care Apartment if you or any listed core member had previously enjoyed 2 or more subsidised housing and one of them was a Studio Apartment, or a short-lease 2-room Flexi flat or Community Care Apartment.

Some buyers pay an additional amount on top of the flat price, depending on their household group. For second-timer families it is the lower of the resale levy payable or $30,000, pro-rated according to the lease chosen. For families or singles who have taken at least 1 housing subsidy, the additional amount is paid in cash. HDB's page lists the amounts for the other household groups.

You apply for a 2-room Flexi flat during HDB sales launches; the HDB Flat Portal shows the flats offered in upcoming launches. If the flat is near your current home or married child, you can request the Senior Priority Scheme.

Payments by stage. Application: $10 by credit card or mobile app supporting QR code payments. Booking of flat: $500 by NETS or cash. Signing the Agreement for Lease: stamp duty, legal fees and a 10% downpayment, by cash or CPF Ordinary Account savings. Key collection: the balance of the flat purchase price, stamp duty, legal fees and fire insurance, by cash or CPF Ordinary Account savings. Existing flat owners who qualify for the Deferred Downpayment Scheme pay only the stamp duty and legal fees when they sign the Agreement for Lease.

Community Care Apartments

Community Care Apartments (CCAs) are a joint offering by MND, MOH and HDB that integrate senior-friendly housing with care and social services, so seniors can age independently within the community. All residents must subscribe to a Basic Service Package. From the November 2026 BTO exercise the lease ranges from 15 to 45 years in 5-year increments.

The minimum age for a CCA used to be higher than for the Flexi flat. That changed in 2026, starting with the BTO exercise that HDB later moved from October to November 2026.

MOH, MND and HDB lowered the age eligibility for Community Care Apartments from 65 to 55, with effect from the BTO sales exercise HDB first scheduled for October 2026, so seniors who wish to right-size can consider both 2-room Flexi flats on short lease and CCAs when they turn 55. The lower age also applies to CCAs offered at future Sale of Balance Flats exercises.

If you already hold an HFE letter, whether you need a new one depends on your age when you applied for it.

Applicants with a valid HFE letter who were aged 55 and above when they applied for it have the letter updated by HDB to show eligibility to buy a CCA. Those who were below 55 when they applied, but turn 55 before the sales exercise, must re-apply for an HFE letter if they wish to apply for a CCA.

Community Care Apartments: services, priority and cost

The eligibility conditions are the ones set out for the Flexi flat above, since HDB lists the two flats in one table.

Every Community Care Apartment unit comes with a Basic Service Package (BSP) comprising assistance from a CCA staff with simple home fixes, arranging add-on care and support services, and 24-hour emergency response. Residents can add optional services at a cost, including Shared Caregiving Services for assistance with Activities of Daily Living (ADL), fall monitoring, housekeeping and meal services. Vanguard Healthcare, a wholly-owned subsidiary of MOH Holdings, is the appointed operator.

The flat price is paid fully upfront by cash and/or CPF. The BSP is a regular payment paid in cash. A household where a member requires permanent assistance with at least one ADL may be eligible for means-tested subsidies on the BSP; Vanguard Healthcare's website has the indicative BSP fees and subsidy criteria.

The package and its fees are changing.

The Basic Service Package is being streamlined: social activities move to Active Ageing Centre touchpoints, the emergency alert device becomes optional, and MOH subsidises the components similar to national long-term care schemes, means-tested, for applicants assessed as unable to perform at least one Activity of Daily Living. After the streamlining and subsidy, residents of CCAs launched before 2026 see their monthly BSP fees fall by 18% to 75%. The revised fees and subsidies start from Q2 2027.

You qualify for priority flat allocation if at least 1 applicant or core occupier requires permanent assistance with an ADL: washing or showering, going to the toilet, getting dressed, eating, walking or moving around, or transferring. Priority applies only to new launches of Community Care Apartments in Build-To-Order exercises, not Sale of Balance Flats exercises. To apply, indicate it in the online application form and submit a disability assessment to Vanguard Healthcare before the flat application period closes; an assessment received after that is not considered.

Community Care Apartments: the steps and the conditions after buying

Key stages and estimated timeline. Obtain a valid HFE letter: about 1 month from receipt of the application and supporting documents. Apply for a flat: within 8 days from the announcement of the sales exercise, with a $10 fee. Ballot results: up to 2 months from the close of the application period. Book a flat: from 4 weeks after the release of ballot results, with a $500 payment that forms part of the downpayment. Sign the Agreement for Lease: within 9 months after booking, paying stamp duty, legal fees and a 10% downpayment. Sign the BSP Agreement and collect keys: waiting time varies. The balance of the flat price is paid at key collection.

After buying: you or any person listed in the flat must dispose of any interest in any HDB flat or private residential property within 6 months from key collection. A Community Care Apartment cannot be sold on the open market; if you no longer wish to live in it or become ineligible, it must be returned to HDB, which reimburses the residual value of the balance lease on straight-line depreciation (for a return within 12 months of key collection, the lower of the pro-rated original purchase price or 95% of it). You cannot rent out a bedroom or the whole flat. The minimum occupation period is 5 years, or 10 years for a Plus or Prime project.

Choosing between the options

This page lists the options and does not compare them. The Freedom Age link below works through the choice for a household.

Common questions

Where to go next

• Work through the decision with Freedom Age
• Open HDB's page on monetising your flat for retirement

Related guides

• Am I eligible for a resale flat, and which grants can I get?
• How much CPF can I use to buy a home, and how much goes back to CPF when I sell?
• When can I sell my HDB flat? (the Minimum Occupation Period)

About the data

Every figure on this page has its source and the date we checked it. We are not affiliated with any government body. General information, not financial advice.