Top-up lease for HDB flats with less than 60 years left?

Over the years, the Housing and Development Board has done well in providing a roof over the heads of the majority of Singaporeans.

I am concerned, though, about the diminishing tenure of my flat, which has 60-odd years remaining in the lease. My worry is not whether I will outlive the lease, but about my asset reducing in value in tandem with the lease.

In 10 years, Singapore will face a situation where thousands of flat owners will have less than 60 years left in their lease, making it hard for them to sell their flats if they decide to cash out.

If banks are reluctant to provide a loan for potential buyers of those flats, resale prices would tumble. This is especially worrying, as most Singaporeans have their HDB flats as their primary asset.

Years ago, Mr Lee Kuan Yew encouraged Singaporeans not to sell their flats, assets that would grow in value. Will that still be the case for flats with a tenure of less than 60 years?