Happy Sunset Years: Buy Your HDB Flat With the Senior Priority Scheme (SPS)

Written by: Rita Magallona

You’ve lived a full life and paid your dues, taking care of your children. Now that they’ve grown up and are living lives of their own, it’s time to savour your sunset season, your way.

Maybe you want to stay in the familiar comforts of your current flat, filled with happy memories of yesteryears. Perhaps you have friends who are fellow seniors with whom you would like to be neighbours.

You may prefer to move near a grown child’s flat so you can be assured of mutual support. However you want to buy your new flat, you can get priority through HDB’s Senior Priority Scheme (SPS).

Contents:

What Is the Senior Priority Scheme?

The HDB allocates at least 40% of the 2-room Flexi flats to elderly applicants who are aged 55 and above during sales launches. Half of this allocation is set aside for SPS applicants. So, if you apply for the SPS, you have a better chance of getting the flat you want during balloting.

Are You Eligible for the SPS?

The eligibility mechanics of the SPSis identical to the Married Child Priority Scheme (MCPS) with two exceptions: the SPS is open only to the elderly, and it has an added “near existing flat” option.

3 Questions to Consider When Applying for the SPS:

1. Who among you is a Singapore Citizen (SC) or Singapore Permanent Resident (PR)?

The SPS requires that your married child should be an SC or a PR. If you are applying to live with your married child, his/her name should be included in your flat application.

2. Where does your married child live?

The flat you are applying for under the SPS should be within 4 kilometres of an HDB flat or private residential property owned by your married child. If your child doesn’t own it, it must be owned by their child, adopted child, or sibling(s).

Alternately, you can also apply for a flat that is within 4 kilometres of your current residence.

3. How long do you plan to live there?

As with the MCPS, there is a five-year Minimum Occupation Period (MOP). This means that the married child who helped you qualify for the SPS must continue to live within 4 kilometres of your new flat until five years after your completion date.

As you go into retirement, why not take advantage of the housing options that the HDB offers to the elderly? This way, you can age in place in the way you have always wanted, in the company of good friends and family.

Looking for other housing options? Check out the other government schemes for seniors that are applicable. Pro tip: the Multi-Generation Priority Scheme looks promising!

We can help you out with these as well:

• Financial calculations
• Affordability calculations

Selling an old flat? If you need assistance to guide you through the process, Ohmyhome’s team of experienced and knowledgeable property agents are here to help, completely free of charge.

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