{"id":49789,"date":"2017-03-27T10:45:22","date_gmt":"2017-03-27T03:45:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/wong-not-all-old-hdb-flats-are-eligible-for-sers\/"},"modified":"2017-03-27T11:37:29","modified_gmt":"2017-03-27T04:37:29","slug":"wong-not-all-old-hdb-flats-are-eligible-for-sers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wong-not-all-old-hdb-flats-are-eligible-for-sers\/","title":{"rendered":"Wong: Not all old HDB flats are eligible for SERS"},"content":{"rendered":"


\nThe vast majority of HDB flats will see their leases run out, with the flats returned to the government.
\nDo 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).
\nHis 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.
\n\u201cBut SERS, as the name implies, is on a selective basis,\u201d noted Wong.
\n\u201cIt 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\u2019s financial resources.\u201d
\nIn fact, only four percent of HDB flats have been identified for SERS since the scheme\u2019s launch in 1995.
\nThe vast majority of HDB flats will see their leases eventually run out, with the flats returned to the HDB, who will in turn surrender the land to the state.
\nWith this, he advises buyers, especially young couples, to be realistic when purchasing flats with short leases since flat prices will drop towards the tail-end of the lease.
\n\u201cOne possible guide is to buy a flat that covers you and your spouse to age 95. This would cover most of us for life and give us peace of mind in our golden years,\u201d he said.
\n\u201cWith a longer lease, you can benefit from the appreciation in property value in the medium-term, especially after factoring in the Government\u2019s housing grants and subsidies.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Wong: Not all old HDB flats are eligible for SERS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The vast majority of HDB flats will see their leases run out, with the flats...<\/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-49789","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-cX3","jetpack-related-posts":[{"id":53792,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vast-majority-of-hdb-flats-not-qualified-for-sers\/","url_meta":{"origin":49789,"position":0},"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":21907,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/west-coast-road-site-up-for-sers\/","url_meta":{"origin":49789,"position":1},"title":"West Coast Road site up for SERS","date":"August 4, 2016","format":false,"excerpt":"\r Artist\u2019s impression of the replacement flats at Clementi Avenue 1. Source: HDB A new site along West Coast Road has been identified for the Selective En bloc Redevelopment Scheme (SERS), the Housing and Development Board (HDB) said on Wednesday, 3 August. This is the 80th site to benefit from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57732,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/future-still-uncertain-for-old-circuit-road-flats\/","url_meta":{"origin":49789,"position":2},"title":"Future still uncertain for old Circuit Road flats","date":"June 13, 2017","format":false,"excerpt":"\r View of one of the HDB blocks at Circuit Road in MacPherson. The opening of Downtown Line 3 in October this year, which passes through the MacPherson area, has once again put the spotlight on a small HDB estate at Circuit Road. Considered one of the oldest housing estates\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113125,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-to-consider-suggestions-to-tackle-hdb-lease-decay\/","url_meta":{"origin":49789,"position":3},"title":"MND to consider suggestions to tackle HDB lease decay","date":"December 17, 2019","format":false,"excerpt":"\r The government will consider proposals and suggestions for external parties to manage HDB flat leases.\u00a0 Minister 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. Like many condominiums\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":49789,"position":4},"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":97606,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-developers-may-be-needed-for-vers\/","url_meta":{"origin":49789,"position":5},"title":"Private developers may be needed for VERS","date":"September 11, 2018","format":false,"excerpt":"\r Redevelopment works of older HDB towns will keep to the aim of providing affordable and quality homes for Singaporeans. Private developers may have a role in the Voluntary Early Redevelopment Scheme (VERS), said Minister for National Development Lawrence Wong in Parliament on Monday (10 September). In responding to a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/49789"}],"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=49789"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/49789\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=49789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=49789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=49789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}