If the SA scheme and the 2R flat scheme were likened to coffee and tea, how do you combine the two schemes into one, and still retain the objectives of the two schemes? Extensive public consultations are underway to help us achieve this mix.
We want to be able to preserve the benefits of the old schemes, and at the same time offer new benefits under the new combined 2R Flexi scheme.
For example: first-timer families, second-timer families, and first-timer singles can currently buy a new 99-year 2R flat from HDB. They will continue to be able to do so, under the 2R Flexi scheme. At the same time, we will give elderly households aged 55 and above the additional benefit of being able to choose a shorter than 99-year lease, if they wish, based on their age and preference. Their lease options will range from 15 to 45 years, in 5-year increments, provided the chosen lease will be able to allow them and their spouse to live in the flat till age 95 or above.
How will 2R Flexi flats be priced? Pricing will take into account lease tenure and if buyers are first-timer or second-timer. Shorter lease flats will be cheaper than longer lease flats. Second-timer buyers will pay more than first-timers as the latter will get more subsidies. Through a combination of pro-rated grants for first-timers and pro-rated resale levy for second-timers, we will be able to price the 2R Flexi flats so that recent buyers of SA or 2R flats will find the 2R Flexi scheme to be fair. New buyers of 2R Flexi flats will also find the flats affordable.
Mixing coffee and tea requires balance, such that coffee lovers can still taste the coffee while tea drinkers can still enjoy the tea. And on top of that, both must get an extra distinct flavour and kick. We have worked hard over the past few months to get this balance right, for the new 2R Flexi scheme. We will bring it to the menu very soon.
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