28 Mar '17, 5am

Wong: Not all old HDB flats are eligible for SERS | Property Market

Most of the HDB flats will see their leases run out, with the flats returned to the government. Do not assume that all old HDB flats are automatically eligible for the Selective En bloc Redevelopment Scheme (SERS), cautioned National Development Minister Lawrence Wong in a blog post last Friday (24 March). His warning comes following a Lianhe Zaobao article about some buyers forking out high prices for older flats in anticipation of reaping the benefits of SERS. “But SERS, as the name implies, is on a selective basis,” noted Wong. “It is only offered to HDB blocks located in sites with high redevelopment potential. These are typically sites where the land has not been well utilised. It is also subject to the availability of suitable replacement sites for residents and the government’s financial resources.” In fact, only four percent of HDB flats have been identified for SE...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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