Desmond Lee on Lease Buyback Scheme
About 9,200 households have joined the Lease Buyback Scheme (LBS) since it was introduced in March 2009. The scheme has been expanded to owners of all flat types and in April 2020, the maximum LBS bonus was increased by 50 per cent for all. National Development Minister Desmond Lee said this in Parliament on Monday (Nov 7) in answer to an MP’s questions on LBS applications and plans for expansion or improvement. He also said there are various reasons why elderly flat owners might not be keen to take up the scheme, such as having other sources of income or preferring other options like right-sizing to a smaller flat or renting out their spare rooms or the entire flat.
About 9,200 households have joined the Lease Buyback Scheme (LBS) since it was introduced in March 2009. The scheme has been expanded to owners of all flat types and in April 2020, the maximum LBS bonus was increased by 50 per cent for all. National Development Minister Desmond Lee said this in Parliament on Monday (Nov 7) in answer to an MP’s questions on LBS applications and plans for expansion or improvement. He also said there are various reasons why elderly flat owners might not be keen to take up the scheme, such as having other sources of income or preferring other options like right-sizing to a smaller flat or renting out their spare rooms or the entire flat.
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