For a long time, to have your flat SERS-ed is like getting a windfall, akin to striking TOTO or 4D. Through the scheme, the government acquires HDB flats from owners for redevelopment. In return, these owners are compensated and get an option to buy a new flat with a fresh 99-year lease at a subsidised rate.
It’s also another way of buying a new flat at a subsidised rate, other than through the BTO route.
And after the Minimum Occupation Period (MOP), owners can sell the flat at a higher price and earn a profit. Like this sale of a 5-room resale flat at City Vue @ Henderson, which at one point held the record for being the most expensive HDB resale flat sold.
Then came the Ang Mo Kio SERS announcement on 7 April. Almost two months later, it was announced that several HDB blocks in Woodlands will also be acquired. But the latter didn’t attract the same kind of attention and backlash.
Like previous SERS exercises, some owners were unhappy with the relocation. Many have already paid up for their flats, but are now forced to move away from a place they’re already familiar with. Getting uprooted can be very stressful, especially for the elderly who just want to age in place peacefully.
There’s also a sense of unfairness. The designated replacement site at Ang Mo Kio Drive is relatively further away from amenities.
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