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Seniors Make Up 55% of Two-Room Flexi Flats Buyers

Ohmyhome

During the sales exercise between 1 November 2015 and 31 December 2019, there were 28,900 two-room flexi flats that went up for sale.

According to the HDB, 85% of the 25,106 units on offer were snapped up. The majority of buyers (55%) were seniors aged 55 years and above, while the rest were families and singles.

The shorter 40-year lease HDB flats had a high take-up rate among the buyers while 92% (10,705 units) of the flats purchased by seniors were on short leases. The remaining flats have 99-year leases.

Only those above 55 years old are eligible for short leases – from 15 to 45 years.

What is the Two-room Flexi Scheme?

The Two-room Flexi Scheme was first introduced in 2015. It marries the Studio Apartment Scheme and Two-room Flat Scheme. The Studio Apartment Scheme has a 30-year lease, exclusively for home buyers aged 55 and above. On the other hand, the two-room flat scheme comes with a 99-year lease, meant for families or singles. Both schemes offer two flat sizes: 36sqm or 45sqm.

Merging the two schemes allows flexibility in three areas – buyer type (i.e. elderly, families, singles), lease length (99-year lease or short lease of up to 45 years) and unit type.

Upcoming February and March sales exercises for Build-To-Order (BTO) projects with two-room flexi flats will take place at Choa Chu Kang, Pasir Ris, Sembawang, Tengah, and Toa Payoh.

Source: The Straits Times

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