Early redevelopment scheme 'gives owners of ageing flats viable exit option'
Potential buyers of older flats who might have hesitated to enter into a sale would be more assured to go ahead now, say market watchers
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
PRIME Minister Lee Hsien Loong's announcement of the Voluntary Early Redevelopment Scheme (Vers) on Sunday will provide home owners of ageing flats with a viable exit option, consultants believe.
The announcement comes after the government last year cautioned home buyers not to assume that all old public housing flats will be automatically eligible for the Selective En bloc Redevelopment Scheme (Sers) - a scheme where the government buys back blocks of old flats from residents and gives them compensation and rehousing benefits.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Singaporeans can now buy record amount of yen per Singdollar
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
