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99-year lease on flats
Tackling the HDB 99-year lease issue: Are HIP and Vers the answers?
To address anxiety over expiring 99-year leases, the Government has announced measures such as the expanded Home Improvement Programme and the new Voluntary Early Redevelopment Scheme. Insight looks at how these allay concerns and what questions remain.
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Yasmine Yahya, Rachel Au-Yong
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Ten years ago, hospital support staff worker Patrick Lee toyed with the idea of selling his Housing Board terraced house - a rarity - located in Stirling Road and which has 49 years left on its lease.
"It was getting old - the beams were rotting, the awnings were coming off, there was termite infestation," says the 58-year-old.
