Under the Sers scheme, HDB tears down old housing blocks and offers residents housing options in nearby estates. Flat owners will get rehousing benefits as well as compensation based on the market value of their flats at the time of the Sers announcement.
“Therefore, the headstart in minimum occupation period and younger age of the flat would allow owners to sell their flats earlier, at a higher price,” the 99.co article stated, referring to how a flat at City Vue@Henderson was sold atlast month and broke the record to be the most expensive resale flat transaction by far.
Dr Lee, who is deputy director of the Institute of Real Estate and Urban Studies at the National University of Singapore, added that among the Ang Mo Kio residents who may be affected by the new rule are those facing special circumstances such as divorce or financial troubles.For some of the Ang Mo Kio residents undergoing Sers, this was another piece of news that they have to digest should they plan to sell their flat in future.
A 43-year-old administrative executive who lives at Block 562 and gave her name as just Ms Chen said: “My intention of buying a flat is to live there till the day I die. I’m not keen on property flipping… so, this occupancy rule doesn’t bother me.”
Source: Real Estate Daily Report (realestatedailyreport.net)
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