At some point in life, your parents may realise they can no longer live on their own in their HDB flat. This can lead to a difficult decision, as the flat represents security and holds years of memories, so it is best to consider your options as early as possible.
Such a decision has become more urgent as Singapore’s population officially reached “super-aged” status in 2026. 21.4% of Singaporeans are 65 and above, exceeding the United Nations’ 21% threshold. Furthermore, the latest Population In Brief report from the National Population and Talent Division projected that the proportion of citizens aged 65 and above would rise past 25% by 2035.
In Singapore, families have a few main options. Depending on their needs, parents may choose to move in with their children. This can go both ways: parents can move into their children’s homes, or the children can move back in with their parents. Options include day care centres or home care services for those living with caregivers.
Alternatively, parents might downsize to senior-friendly flats such as 2-room Flexi units or Community Care Apartments, as these are designed with safety and accessibility for seniors in mind. Finally, if necessary, parents could opt to stay in a nursing home, which provides a long-term stay for those who cannot be cared for at home.
With all these options in mind, perhaps the best way to approach this topic is to consider what happens to the HDB flat in such scenarios.
Keep The HDB Flat But Rent It Out
It is completely understandable if your parents prefer to keep their flat. The home they’ve built together may hold great sentimental value and decades of memories. They may also prefer to will the property to their children and loved ones, so that any major decision is made only after they’ve passed.
In this situation, several options are worth considering. First, they can rent out bedrooms or even the entire unit. With rental yields between 6% and 8%, it may be more prudent to let the unit earn passive income even while they are no longer living in it.
Read Also: Guide To HDB Rental Yields In Singapore [2026 Edition]
Rental proceeds could help subsidise or even fully cover the cost of living in a nursing home, where basic costs start from $3,900 per month before government subsidies.
Keep The HDB Flat And Move Back In
Alternatively, if your parents prefer, or if the location is suitable, it might be worth considering moving back into your childhood home. With many neighbourhoods constantly being rejuvenated and public transportation connectivity on the rise, the neighbourhood you grew up in may be even more accessible than you remember.
Depending on the situation, this could be a temporary or permanent decision. If it’s temporary, you could rent out bedrooms in your own property, or even the whole unit, while effectively housesitting for your parents. This lets you earn passive income without giving up your property altogether.
Alternatively, if you decide to make it permanent, it depends on whether the flat ownership changes. For example, if you intend to be included as a new co-owner, you will first need to dispose of your own HDB flat, if you have one. Current owners or essential occupiers of an HDB flat, DBSS flat or an Executive Condominium unit (within its 5-year Minimum Occupation Period) are not eligible to become a co-owner of another HDB flat.
If you own private property, you may take over ownership of the HDB flat as long as you are a Singapore Citizen and intend to live in the flat upon the change in flat ownership.
Read Also: Why You Should Rent Out Your Singapore Home When Retiring Overseas
Monetise The Flat For Retirement By Selling The Flat Or Shortening The Lease
Of course, you can also sell the flat on the open market and let your parents move in with you or another family member.
Beyond what’s mentioned earlier, however, HDB has introduced two ways to unlock the value of your parents’ HDB flat to support their needs: the Silver Housing Bonus and the Lease Buyback Scheme. Both options provide your parents with additional funds to pay for or subsidise a full-time caregiver, so they don’t have to live on their own.
The Silver Housing Bonus supports seniors who choose to sell their flat and move to a 3-room or 2-room Flexi HDB apartment. Not only will they get the net proceeds from their sale, but the Silver Housing Bonus will enjoy a cash bonus of up to $40,000 per household, when they commit to the required net increase to their CPF Retirement Account and join CPF LIFE.
The cash bonus is pro-rated at $1 bonus for every $2 committed towards their CPF Retirement Account.
The other is the Lease Buyback Scheme, which allows your parents to sell part of the flat’s lease to HDB. The proceeds from selling part of their flat’s lease will be used to top up their CPF Retirement Account, which can then be used to join CPF LIFE and receive a monthly income for life.
The flat must have at least 20 years of lease to sell to HDB. Note that the flat can no longer be sold on the open market, nor can they rent out the whole flat. If your parents wish to move to a nursing home in the future, they can return the flat to HDB early and receive a further refund for the remaining lease, pro-rated on a straight-line basis. Their CPF LIFE plan will continue to provide a monthly income for life.
Finally, if they outlive the lease period, don’t worry, as HDB will consider the circumstances on a case-by-case basis.
