{"id":97606,"date":"2018-09-11T10:48:09","date_gmt":"2018-09-11T03:48:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-developers-may-be-needed-for-vers\/"},"modified":"2018-09-11T11:03:59","modified_gmt":"2018-09-11T04:03:59","slug":"private-developers-may-be-needed-for-vers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-developers-may-be-needed-for-vers\/","title":{"rendered":"Private developers may be needed for VERS"},"content":{"rendered":"


\nRedevelopment works of older HDB towns will keep to the aim of providing affordable and quality homes for Singaporeans.
\nPrivate 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).
\nIn responding to a query from MP Cheryl Chan, Wong revealed that he \u201cwill not rule out the possibility of having private developers involved and we will study her suggestion carefully\u201d.
\n\u201cBut let\u2019s be very clear. Our aim is to redevelop public housing estates, so we will ensure that any redevelopment is done in a way that preserves the character of our HDB towns and supports HDB\u2019s mission to provide affordable and quality homes for Singaporeans.\u201d
\nFind\u00a0HDB flats for sale\u00a0or read our\u00a0HDB guides\u00a0and\u00a0BTO guides
\nHe noted that the scheme, which was introduced last month by Prime Minister Lee Hsien Loong during the National Day Rally, will be launched in about 20 years\u2019 time in order to pace out the redevelopment of older towns.
\nBut unlike the Selective En Bloc Redevelopment Scheme (SERS), which is limited to precincts where there is high development value to be unlocked, compensation for VERS will be less generous as the authorities would be redeveloping land that is more built up.
\nSeveral MPs have raised questions related to VERS, such as the computation of the compensation package, which precincts are eligible for it, and the options for residents who failed to secure VERS for their flats.
\nTo this, Wong said the authorities need more time to work out the scheme\u2019s many details, such as the extent of its coverage and computation of compensation.
\n\u201cIn particular, we will ensure that we implement VERS in a fiscally sustainable way, so that it does not become a burden for the next generation,\u201d he said.
\nWong noted that the government has set out ambitious housing plans for the next few decades, \u201cwhether they come to pass depends on our external, economic and financial situation\u201d.
\nCan you afford an HDB flat? Check your\u00a0affordability\u00a0now
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private developers may be needed for VERS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Redevelopment works of older HDB towns will keep to the aim of providing affordable and...<\/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-97606","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-poi","jetpack-related-posts":[{"id":96520,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vers-announced-early-to-alleviate-worries-over-hdb-lease-expiry\/","url_meta":{"origin":97606,"position":0},"title":"VERS announced early to alleviate worries over HDB lease expiry","date":"August 23, 2018","format":false,"excerpt":"\r More time is needed to fine-tune the details of the newly-announced Voluntary Early Redevelopment Scheme (VERS) for HDB flats such as the price to be offered by the government and whether all public housing will qualify for it, National Development Minister Lawrence Wong told Channel NewsAsia on Tuesday (21\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97608,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-have-options-to-unlock-value-of-hdb-flats\/","url_meta":{"origin":97606,"position":1},"title":"Seniors have options to unlock value of HDB flats","date":"September 11, 2018","format":false,"excerpt":"\r Seniors may choose to rent our a spare bedroom or sell part of their lease back to HDB. 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