The HDB ought to consider allowing those aged above 55 to rent a studio apartment directly from it, at a nominal sum of, say, $250 per month ($90,000 estimated cost of studio apartment divided by 30 years' lease, and divided by 12 months), for occupation.
This will allow them to rent out their existing homes at market rates. The income they make can be used for their daily expenses.
Letter by R. Jaichandra
This article was published on May 14 in The Straits Times.
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