Seniors benefit from studio apartments

[SINGAPORE] Senior citizens who have sold their old flats and moved into studio apartments (SAs) have reaped - among other benefits - net sales proceeds of $200,000 per flat.

The figure came from Minister for National Development Khaw Boon Wan in his post yesterday in the blog, Housing Matters. It was arrived at after outstanding loans on their old flats were paid off, and after the new SAs were fully paid for.

SAs thus make a lot of sense for seniors who are left with larger flats after their children move out to their own flats, he said.