Singapore’s main opposition party has offered five ideas to reform the public housing system to ensure flats remain affordable and retain their value even as their leases decay, so homeowners can use them as a source of retirement funding. One key suggestion by WP, which holds six of the 88 elected seats in parliament, is to expand on LBS that helps senior citizens monetise the 99-year ownership of their leasehold public housing flats while they live in them. In a 60-page paper published on its website on Fri, the party suggested a Universal Sale and LBS that is open to all homeowners with a remaining tenure of 39 years or less. These flats will then be sold to the government. By buying back the leases on HDB flats, the government could resell them under shorter leases or offer them under its proposed Public Rental Market (PRM) scheme at prices midway between low-income government rental flats and properties offered on the open market, the party said.... Continue Reading