In Singapore, a growing number of homeowners are exploring various options to enhance their retirement savings, including leveraging their properties and government schemes.

One popular choice is the Lease Buyback Scheme offered by the Housing Board, where homeowners sell a portion of their flat's lease back to the government. This has seen a steady rise in participation, with 13,734 households taking advantage of the scheme as of Dec 31, 2024.

Many participants have received proceeds ranging from $100,000 to $300,000, providing a significant boost to their retirement funds.

Aside from the Lease Buyback Scheme, some homeowners are also supplementing their income by renting out rooms in their homes or downsizing to smaller properties.

These strategies are helping individuals secure a more financially stable retirement and are becoming increasingly popular among Singaporean homeowners.