Can Vers solve HDB’s 99-year lease decay problem?
Nearly 300 HDB blocks built in the 1960s in Bukit Merah, Geylang, Queenstown and Toa Payoh are entering their final 30 years. As Singapore’s first-generation flats age, the challenge isn’t just upkeep but what happens when their 99-year leases expire.
Enter Vers, the Voluntary Early Redevelopment Scheme.
In the latest episode of PropertyBT, a podcast of BT Correspondents, host Leslie Yee, examines how Vers might work and whether it can balance fairness, compensation and public trust.
Vers, due in the 2030s, would let flat owners of about 70-year-old blocks vote on whether to sell their homes back to the Government before leases run out. Unlike the compulsory and highly selective Selective En bloc Redevelopment Scheme (Sers), Vers will be voluntary and far less generous.
Why listen
- The vote: How collective decisions could be made, and what approval threshold strikes the right balance between fairness and practicality.
- The payout: What “fair value” might look like for ageing flats and why expectations of Sers-style windfalls will likely be disappointed.
- Life after Vers: How owners, especially seniors might get priority access to nearby replacement flats, possibly with shorter, cheaper leases.
But what if homeowners say no? Widespread resistance could stall estate renewal, leaving ageing towns hollowed out as leases expire. The alternative coercion or confusion risks shaking confidence in Singapore’s housing model.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Vers isn’t just another policy tweak; it’s a test of how the city manages ageing homes without eroding its social compact.
Tune in to PropertyBT for what’s at stake and what a graceful exit from a 99-year lease could look like.
PropertyBT is a podcast of BT Correspondents. Look out for the next episode featuring senior correspondent Ben Paul. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.
---
Written and hosted by: Leslie Yee (lyee@sph.com.sg)
Edited by: Emily Liu & Claressa Monteiro
Produced by: Leslie Yee, Emily Liu & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
---
Follow BT Correspondents:
Channel: bt.sg/btcobt
Amazon: bt.sg/btcoam
Apple Podcasts: bt.sg/btcoap
Spotify: bt.sg/btcosp
YouTube Music: bt.sg/btcoyt
Website: bt.sg/btcorresp
Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.
---
Discover more BT podcast series:
BT Money Hacks: bt.sg/btmoneyhacks
BT Podcasts: bt.sg/pcOM
BT Market Focus: bt.sg/btmktfocus
BT Lens On: bt.sg/btlenson
Copyright SPH Media. All rights reserved.
