The owners of private property are normally not qualified to obtain new Housing and Development(HDB) flats. However, to promote housing monetization, the government gives chance to the over 55 years old elderly private owners to avail a two–room Flexi flats on basis of shorter leases for a period of 15 and 45 years.
This policy was ineffective when the new HDB flats are intensively funded by the government. According to the Ministry of National Development in a written answer to Parliament on Monday (3 July), “the government prioritize such housing for those who need them more, such as first-time homebuyers and households who cannot afford private housing,”
The elderly owners are obliged to dispense their private residential property only after six months of occupying the HDB flat.
The Visionaire EC is also another great place for elderly. The Visionaire EC is a luxurious condo and an aggregate of 605 units attached with 3 to 5 BR. This is another high-end property that is located in District 27 @ Sembawang Road, Singapore under the developer, Qingjian Realty Pte Limited.
This is a 30-story property. Each unit is intended to yield the most advanced amenities. The Visionaire made life is so easy and comfortable hence it is near shopping centers, prestigious schools, restaurants, and other significant establishments.