Lease Buyback Scheme extension: Details likely ready by early 2019

The details of the Lease Buyback Scheme’s (LBS) extension to all flats should be ready by early next year, Minister for National Development Lawrence Wong said yesterday. The announcement that the LBS would be extended to cover five-room and larger flats was made in August this year. Under the LBS, flat owners aged 65 and above who meet several other criteria can sell part of their flat’s lease to the Housing Board while retaining the length of lease based on the age of the youngest owner. The proceeds from such a sale…

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