Selective En-bloc Redevelopment Scheme (SERS) is deployed by the Housing and Development Board (HDB) in Singapore to maintain and upgrade public housing flats in older estates of the city.
How to Know Your HDB En-bloc Potential?
However, not all HDB flats will be automatically eligible for SERS.
Public housing flats are sold with a 99-year leases as the government needs to be partial and fair to our future generations. Taking the land back to recycle is the only way to ensure that all our descendants can buy new BTO (Build-to-Order) flats of their own.
Note that buyers will need to be practical when purchasing flats with short leases. This is especially important for young couples who have to plan for a future ahead of them.
If you are still hoping on an En-bloc sale, this might be a disappointment for many. Only 5 percent of the HDB flats are eligible for SERS, and most of them have already been completed.
What are the other option available:
Voluntary Early Redevelopment Scheme (VERS), another HDB scheme to alleviate the problem of people becoming homeless in 50 years’ time.
VERS is determined by the votes from the homeowners of the development, for the Government to buy back their homes before their leases run out.
Will your HDB be selected for SERS? What happens if it is not? Look out for our next post.
My name is Jen Tan, don’t be afraid to ask me any questions! I would love to hear from you soon.