According to a press release issued by the HDB, the number of families applying for the buy-back scheme has remained at around 1,500 each year since 2020.

Of these, about 55 per cent are living in three-bedroom or smaller HDB flats; about 31 per cent are living in four-bedroom HDB flats; and the rest are living in five-bedroom or larger HDB flats.

According to HDB, about 65% of the households opted to retain their 35-year and 30-year leases.

About 70% of the elderly families who joined the scheme cashed out by selling the remaining deeds to HDB, receiving between $100,000 and $200,000.

Of these homeowners, 69% were able to retain some of their cash after filling their basic savings in their CPF retirement accounts.

Those who had cashed out through the Deed Repurchase Scheme were also able to receive a cash bonus of between $7,500 and $30,000, depending on the type of HDB flat, after filling their CPF retirement accounts.

Households that fill their retirement accounts with $60,000 or more will receive the highest amount of cash bonuses.

As of December last year, 91 per cent of households enrolled in the Lease Buyback Scheme received the maximum cash bonus.