{"id":113125,"date":"2019-12-17T13:09:13","date_gmt":"2019-12-17T06:09:13","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-to-consider-suggestions-to-tackle-hdb-lease-decay\/"},"modified":"2019-12-17T13:19:44","modified_gmt":"2019-12-17T06:19:44","slug":"mnd-to-consider-suggestions-to-tackle-hdb-lease-decay","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-to-consider-suggestions-to-tackle-hdb-lease-decay\/","title":{"rendered":"MND to consider suggestions to tackle HDB lease decay"},"content":{"rendered":"


\nThe government will consider proposals and suggestions for external parties to manage HDB flat leases.\u00a0
\nMinister for National Development Lawrence Wong has responded to two separate policy proposals, saying that all alternative suggestions and ways to manage HDB flat leases will be considered by the government.
\nLike many condominiums in Singapore, all HDB flats in Singapore are built and sold with\u00a0initial 99-year leases. The oldest HDB flats in Singapore, in Queenstown and Toa Payoh, have just under 50 years of remaining lease.
\nTo rackle the issue of HDB lease decay and the decreasing value of old flats The Workers Party suggested an alternative scheme to the present Selective En bloc Redevelopment Scheme (SERS), called SERS Plus, reported The Straits Times.
\nUnder this proposed scheme, affected residents will be guaranteed units in existing Build-to-Order (BTO) as well as Sale of Balance Flats (SBF) exercises, while the government need not secure a replacement site prior to the launching of SERS.
\nArchitect Tay Kheng Soon, economist Yeoh Lam Keong and property consultant Ku Swee Yong, on the other hand, proposed a one-time automatic lease top-up for ageing flats and a government-funded rebuilding of HDB flats every 100 years.
\nIn his blog post, Wong said the Ministry of National Development (MND) will \u201cconsider all such feedback and ideas, and study them in greater detail\u201d.
\nHe noted that the two proposals recognised \u201cthe need for urban renewal in our land-scarce city\u201d where \u201cland can be recycled and new flats built for future generations\u201d.
\n\u201cThis is the reason why so much of our land is on a leasehold basis, be it for private or public residential properties,\u201d he added.
\nRECOMMENDED ARTICLE: The decaying HDB lease. Myth or reality?
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
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\nSource : proppertyguru.com.sg\/Property Market
\nRead more…MND to consider suggestions to tackle HDB lease decay<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The government will consider proposals and suggestions for external parties to manage HDB flat leases.\u00a0...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-113125","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tqB","jetpack-related-posts":[{"id":49789,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wong-not-all-old-hdb-flats-are-eligible-for-sers\/","url_meta":{"origin":113125,"position":0},"title":"Wong: Not all old HDB flats are eligible for SERS","date":"March 27, 2017","format":false,"excerpt":"\r The vast majority of 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53792,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vast-majority-of-hdb-flats-not-qualified-for-sers\/","url_meta":{"origin":113125,"position":1},"title":"Vast majority of HDB flats not qualified for SERS","date":"May 5, 2017","format":false,"excerpt":"\r Prices of HDB resale units may not increase as sharply as during 2006 to 2012. National Development Minister Lawrence Wong revealed that most public housing are not eligible for the Selective En Bloc Redevelopment Scheme (SERS), whereby the government purchases homes at prevailing market rate, while the residents are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90060,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/macpherson-lane-hdb-blocks-identified-for-sers\/","url_meta":{"origin":113125,"position":2},"title":"MacPherson Lane HDB blocks identified for SERS","date":"June 1, 2018","format":false,"excerpt":"\r New replacement flats for affected residents will be built at Circuit Road near MacPherson MRT station. (Photo: HDB) Three Housing and Development Board (HDB) blocks at MacPherson Lane have been identified for the Selective En bloc Redevelopment Scheme (SERS). \u201cBlocks 81 to 83 MacPherson Lane comprise 313 sold flats,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131591,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/compensation-for-ang-mo-kio-sers-residents-is-about-7-5-higher-than-previous-estimates-about-3-of-hdb-flat-owners-have-at-least-one-private-property-and-more\/","url_meta":{"origin":113125,"position":3},"title":"Compensation for Ang Mo Kio SERS residents is about 7.5% higher than previous estimates; About 3% of HDB flat owners have at least one private property and more\u00a0","date":"November 14, 2022","format":false,"excerpt":"\r Compensation for Ang Mo Kio SERS residents is about 7.5% higher than previous estimates; About 3% of HDB flat owners have at least one private property and more\u00a0\u00a08th November to 14th November 2022\u00a0 The compensation to be received by Ang Mo Kio residents whose Housing and Development Board (HDB)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/11\/singapore-overview.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113165,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/observers-say-hdb-lease-top-up-proposal-has-long-term-drawbacks\/","url_meta":{"origin":113125,"position":4},"title":"Observers say HDB lease top-up proposal has long-term drawbacks","date":"December 18, 2019","format":false,"excerpt":"\r This policy must run in perpetuity as issues may arise if it is ever shelved, says one observer. A one-time automatic lease to-up for old HDB flats might address the problem of their declining value once their leases expire, but it will bring long-term drawbacks, say observers, reported The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":127552,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-offers-two-new-rehousing-options-for-sers-flat-owners-singapore-private-homes-hdb-resale-prices-up-in-q2-2022-and-more\/","url_meta":{"origin":113125,"position":5},"title":"HDB offers two new rehousing options for SERS flat owners, Singapore private homes, HDB resale prices up in Q2 2022 and more","date":"July 5, 2022","format":false,"excerpt":"\r HDB offers two new rehousing options for SERS flat owners, Singapore private homes, HDB resale prices up in Q2 2022 and more28th June to 4th\u00a0July 2022 The Housing and Development Board (HDB) unveiled two additional rehousing options under the Selective En bloc Redevelopment Scheme (SERS) to provide more choices\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/07\/HDB-offers-two-new-rehousing-options-for-SERS-flat-owners-cover-image.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113125"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=113125"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113125\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}