09/07/2022
What can we understand and relate to the recent SERS exercise?
How does it affect or benefit home owners when enbloc take place?
Below are some of the pointers that I captured from the article.
• consider allowing younger residents aged under 45 to buy their replacement flat on a 50-year lease
- actually with the rising cost for housing, will 50 year lease property be common in years to come? In a land scarce country, in order to make public housing affordable, will shorter lease become an option?
• some affected Ang Mo Kio residents were unhappy with having to fork out up to S$100,000 for a new replacement flat of a similar size.
- I believe most knows the benefits if one could get a new housing from HDB. But for this instance why some were unhappy?
• majority of these seniors either did not take a loan for their existing flat or have fully paid off their HDB loan.
- taking a loan or fully paid off their HDB have always be a popular topic among many singaporean. Be it in time when sers happens anot, which is the wiser option one should consider?
• the approach towards calculating the compensation for the Ang Mo Kio Sers flats has not changed from past exercises and is based on the market value of the flat
- when situation goes against us, it’s common that we blame that there’s changes to the system, only to realise system didn’t change but situation does.
Have a good read.
“HDB will look at each of these residents’ needs and concerns, but while they will try their best, they may not be able to meet everyone’s expectations perfectly,” Mr Lee said.
https://www.todayonline.com/singapore/shorter-lease-option-future-sers-ang-mo-kio-desmond-lee-1935581?fs=e&s=cl&fbclid=IwAR1S6f9Y4yb8YU8hjkFSv-OraLmi588mcIVL7JQvaVYvWa3EAyeEhKE1BnE&fs=e&s=cl
SINGAPORE — New rehousing options offered to Ang Mo Kio and Marsiling residents affected by the Selective En Bloc Redevelopment Scheme (Sers), which include buying a replacement flat on a shorter lease, will apply to future Sers exercises, National Development Minister Desmond Lee said.