Housing Finance for the Ageing Singapore Population: The Potential of the Home Equity Conversion Scheme

Habitat International

Volumn 20, Issue 1, 1996, Pages 109-120

  Leong, K M ^b   Addae Dapaah, Kwame ^a  

^a NATIONAL UNIVERSITY OF SINGAPORE   (Singapore)

^b NONE

Author keywords

[No Author keywords available]

Indexed keywords

AGEING POPULATION; DEVELOPING COUNTRY; ELDERLY PEOPLE; FINANCIAL PROVISION; HOME EQUITY CONVERSION SCHEME; HOUSING FINANCE; SALE-LEASEBACK;

SINGAPORE;

EID: 0029729764     PISSN: 01973975     EISSN: None     Source Type: Journal    
DOI: 10.1016/0197-3975(95)00046-1     Document Type: Article

References (24)

1. A.J. Chen, and P. Cheung. The Elderly in Singapore: Singapore Country Report (Association of South East Asian Nations Population Coordinating Unit, Singapore, 1988).
2. J.B.H. Talib, "Condominium Housing for the Independent Elderly", unpublished BSc dissertation, School of Building and Estate Management, NUS, 1987/88.
3. C.C. Lam, "Retirement Village - a Feasibility Study", unpublished BSc dissertation, School of Building and Estate Management, National University of Singapore, 1989/90.
4. Y.K.R. Ang, "Adaptive Re-use of Public Housing for the Aged Community", unpublished BSc dissertation, School of Building and Estate Management, National University of Singapore, 1990/91.
5. S.C. Tham, Study of Ageing and Retirement in Singapore 1989, Preliminary Report submitted by the Multi-disciplinary Research Group on Ageing and Retirement (NUS, 1989).
6. Tham (1989), see note 5.
7. Lianhe Zaobao, Survey of Youths on Basic Values (Singapore Press Holdings, December 1988).
8. Y.K.R. Ang, (1990/91), see note 4. S.L.J. Toh, "Housing Options for the Independent Aged in Singapore, unpublished BSc dissertation, SBEM, NUS, 1993/94, New York.
9. Y.K.R. Ang, (1990/91), see note 4. S.L.J. Toh, "Housing Options for the Independent Aged in Singapore, unpublished BSc dissertation, SBEM, NUS, 1993/94, New York.
10. C.F. Sirmans, Real Estate Finance, 2nd edition (McGraw Hill, New York 1989), p. 112.
11. S.J. Maisel, Real Estate Finance (HBJ Publishers, 1992), p. 32.
12. CPF Annual Report, 1992.
13. Chen, and Cheung (1988), see note 1.
14. P. Leather and W. Rose, (eds), Making Use of Home Equity in Old Age: Report of a Research Project on the Housing Needs of Elderly Owner-occupiers Building Societies Association, London, 1988).
15. C.J. Mayer and K. Simons, "Reverse Mortgages and the Liquidity of Housing Wealth", Journal of the American Real Estate & Urban Economics Association 22, 2 (1994), pp. 235-255. B. Case and A.B. Schnare, "Preliminary Evaluation of the HECM Reverse Mortgage Program", Journal of the American Real Estate & Urban Economics Association 22, 2 (1994), pp. 301-346.
16. C.J. Mayer and K. Simons, "Reverse Mortgages and the Liquidity of Housing Wealth", Journal of the American Real Estate & Urban Economics Association 22, 2 (1994), pp. 235-255. B. Case and A.B. Schnare, "Preliminary Evaluation of the HECM Reverse Mortgage Program", Journal of the American Real Estate & Urban Economics Association 22, 2 (1994), pp. 301-346.
17. S.M. Golant, Housing America's Elderly - Many Possibilities and Few Choices (Sage Publications, Newbury Park, CA, 1992).
18. C.J. Mayer and K. Simons, 1994, see note 14. S.R. Merrill, M. Finkel and N.K. Knutty, "Potential Beneficaries from Reverse Mortgage Products for Elderly Home Owners: an Analysis of AHS Data", Journal of the American Real Estate & Urban Economics Association 22, 2 (1994), pp. 257-299.
19. C.J. Mayer and K. Simons, 1994, see note 14. S.R. Merrill, M. Finkel and N.K. Knutty, "Potential Beneficaries from Reverse Mortgage Products for Elderly Home Owners: an Analysis of AHS Data", Journal of the American Real Estate & Urban Economics Association 22, 2 (1994), pp. 257-299.
20. B. Case and A.B. Schnare, 1994, see note 14.
21. 12 × 12,i) - loan interest}/12], where i = annuity interest rate, 4.33% p.a. based on CPF Retirement Plan.
22. 12 × 12,i)/12}, where i = monthly interest rate.
23. 20 × 12,3%
24. This will be comprehensively dealt with in a subsequent paper entitled: "Housing Finance for the Ageing Singapore Population: the Potential of Creative Housing Finance Schemes", to be published in Habitat International.