A scheme where you can buy a 2-room flat with a shorter lease term. (Formerly known as Studio Apartments for Elderly)
Under the 2-room Flexi Scheme, elderly citizens have the flexibility of choosing the length of lease on their 2-room flat, based on their age, needs, and preferences. If you are aged 55 and above, you can take up a lease of between 15 and 45 years in 5-year increments, as long as it covers you and your spouse up to the age of at least 95 years. First- and second-timer families, as well as first-timer singles, can buy new 2-room flats on a 99-year lease.
Under the Short Leases Scheme, the applicant, spouse, and all buyers must be at least 55 years old at the time of application
- The lease must be able to last you, your spouse, and all buyers to the age of 95 and above
- Your average gross monthly household income cannot exceed $12,000
- additional eligibility conditions can be found in the HDB website link (stated in the next column)