New rehousing options for owners of SERS flats

Residents of flats acquired through the Selective En Bloc Redevelopment Scheme (SERS) would be able to access new rehousing options.

Eligible residents aged 45 and above will be able to purchase three-room or larger flats at the replacement sites on a 50-year lease. The move would allow greater affordability, addressing residents’ concerns of possibly having to pay a top-up for the replacement unit.

At present, HDB offers only two-room flexi-flats on a shorter lease, as part of the Fresh Start Housing Scheme and the two-room flexi scheme.

The Lease Buyback Scheme will also be, as the second rehousing option, made available to seniors who are at least 65 years old. Eligible flat owners would be able to purchase a short-lease flat that would cover them and their spouse until they are at least 95 years old, and sell the remaining tail end of the lease to HDB.

The two rehousing options will first be rolled out among flat owners at Blocks 562 to 565, Ang Mo Kio Avenue 4, as well as Blocks 212 to 218, Marsiling Crescent/ Lane.

While the new measures will bolster homeowners affected by SERS, they have also raised a deeper look into the housing model.

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