24 May '18, 1am

What if HDB flats actually cannot fund retirement? Oh no?

The HDB 99-year lease is under the spotlight again. Advertisement In response to calls for automatic lease extensions for older public flats, National Development Minister Lawrence Wong said in Parliament that it was not a “straightforward matter” to extend the lease, as it involves serious trade-offs and ramifications given Singapore’s space constraints. Wong’s been tempering expectations since 2017 In March 2017, Wong warned in a blog post that the Selective En bloc Redevelopment Scheme (Sers) applied only to selected flats. In fact, only about 4 percent of HDB flats have been selected for Sers since 1995 — a minority. Wong wrote the post in light of news reports then of high prices of several short-lease HDB flats in the resale market. “Sers-potential” and “high rental yield” are key words used by property agents to hype up mature flats with short leases to serve as sir...

Full article: https://mothership.sg/2018/05/hdb-flats-cannot-fund-retir...

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