Don’t Limit Flat Buy-Back To ‘One Bite Of Cherry’

Source : The Straits Times, 25 Aug 2007

I AM glad that the Government will introduce a scheme to buy back two- and three-room flats of older HDB owners and allow them to live in the same flat for another 30 years.

However, it was stated by the Prime Minister in his National Day Rally speech that the scheme would apply only to those people aged 62 and above, and who have had only ‘one bite of the cherry'’, i.e., who had bought only one flat from HDB.

This last criterion is too stringent and I hope the Government will consider relaxing it.

My family of three has lived in an HDB flat since its inception, moving from rental flat to home-ownership.

We sold our flats twice and bought our present flat in the open market as we were not eligible for a new flat, having used up the two chances as set by HDB.

Downgrading to a smaller flat was mainly due to family commitments beyond our control. I was the only breadwinner at that time, supporting my family and parents.

I am now 67 years old and my wife is 64, and we live in a two-room flat. I have been jobless since my retirement, while my wife works part-time, getting a small allowance which goes towards paying the public-utility bills and household expenses. I would be very worried if she stops her part-time job.

In view of our circumstances, I hope that the Government will relax the rule to allow people like me who had two bites of the cherry and are now living in a two-room flat to shorten their flat’s lease to 30 years and buy back the remaining lease so that we will not face financial difficulties, necessitating us seeking public assistance as we age.

Benson Quek Hock Teng