If Miss Tan Lin Neo (“Drop in resale flat values worries soon-to-be retiree”; Nov 26) intends to sell her flat and downgrade to a smaller resale HDB unit, then the drop in resale values should not be a concern as she would benefit from this.
Besides downgrading, there are other ways to monetise an HDB flat to fund one’s retirement, such as subletting rooms or participating in the Lease Buyback Scheme.
One can even sublet the whole flat and move in with family members or relatives, or rent a smaller flat.
Some HDB resale flats have been sold for close to $1 million. Easing the property cooling measures may make it impossible for the younger generation to own a flat, let alone accumulate decent retirement funds.
Perhaps the HDB can help retirees by reducing the price of studio apartments.
Chee Chi Weng
* Letter first appeared in ST Forum (5 Dec)