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
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.
TRENDING NOW
DBS completes US$1 billion significant risk transfer deal, in first for Singapore bank
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Singapore private housing is ‘decoupling’ from HDB market as buyer pools diverge: NUS survey
Not in education, employment or training: Why more Hong Kong youths are opting out of work
