“But SERS, as the name implies, is on a selective basis. It 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’s financial resources.
This is why only 4% of HDB flats have been identified for SERS since it was launched in 1995. We will continue to maintain this strict selection criteria. So please do not assume that all old HDB flats will be automatically eligible for SERS.
In fact for the vast majority of HDB flats, the leases will eventually run out, and the flats will be returned to HDB, who will in turn have to surrender the land to the State. As the leases run down, especially towards the tail-end, the flat prices will come down correspondingly.” – Minister Wong
This is why only 4% of HDB flats have been identified for SERS since it was launched in 1995. We will continue to maintain this strict selection criteria. So please do not assume that all old HDB flats will be automatically eligible for SERS.
In fact for the vast majority of HDB flats, the leases will eventually run out, and the flats will be returned to HDB, who will in turn have to surrender the land to the State. As the leases run down, especially towards the tail-end, the flat prices will come down correspondingly.” – Minister Wong
