Silver Housing Bonus: Seniors who downsize to two-room flat or smaller will get extra S$10,000 cash
At least 15,000 more seniors will qualify for the Silver Housing Bonus when they choose to move into a smaller flat. Changes to the scheme, which will kick in from December, include an additional S$10,000 cash bonus to those who move into two-room flats or smaller. National Development Minister Desmond Lee said these measures will help seniors unlock their property value and boost their retirement incomes. The National Development Ministry said over 2,500 households have benefited from the Silver Housing Bonus since 2013. Rebecca Metteo reports.
At least 15,000 more seniors will qualify for the Silver Housing Bonus when they choose to move into a smaller flat. Changes to the scheme, which will kick in from December, include an additional S$10,000 cash bonus to those who move into two-room flats or smaller. National Development Minister Desmond Lee said these measures will help seniors unlock their property value and boost their retirement incomes. The National Development Ministry said over 2,500 households have benefited from the Silver Housing Bonus since 2013. Rebecca Metteo reports.
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