I refer to the article “Lease buyback scheme leaves retiree $130k richer” (Sunday Times, Apr 14).
By downgrading to a same size BTO 3-room at say $150,000 ($20,000 less than HDB’s $170,000 30-year lease) and selling his current 3-room flat in the open market for the same $300,000 that HDB has valued his flat, to derive an extra median Cash-over-valuation (COV) of say $25,000, instead of the Lease buyback scheme, Mr Kwek may be richer by $145,000 ($20,000 price difference between BTO flat and HDB 30-year lease plus $25,000 COV less $30,000 Resale Levy) , instead of $130,000. Full story
Related:
[Strait times propaganda] HDB Lease buyback scheme leaves retiree $130k richer in cpf - Hardwarezone Forum
