Many Singaporeans have been preoccupied with the issue of ageing HDB leases lately. This came to the fore in March last year when National Development Minister Lawrence Wong, concerned about the high prices some were paying for old flats, warned that not all will be eligible for the Selective En bloc Redevelopment Scheme or Sers.
Mr Wong said only 4 per cent of Singapore public housing stock had been selected for Sers since it began in 1995. Most of the remaining flats will return to the HDB when the leases run out and there will be no residual value.
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