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Government Solution to HDB 99 year leasehold expiry issue- Voluntary Early Redevelopment Scheme (VERS)
By Investment Income for Life  •  August 20, 2018
This is awesome! Our Prime Minister had announced during the National Day Rally that HDB will be launching (albeit in another 20 years time) the Voluntary Early Redevelopment Scheme ("VERS"). Under VERS, HDB owners of flats aged 70 years old will be able to vote (akin to enbloc for private properties) for the government to buy back their homes before the end of the lease. Considering that more than 80% of our fellow Singaporeans live in HDB flats, this is certainly a right step in resolving the depreciation and eventual zero value of HDB flats upon the end of the 99 years old lease period. VERS thus offer another solution for Singaporeans to preserve at least part of the value of their beloved homes and hard earned money. The 99 years leasehold expiry nightmare suddenly surfaced last year (2017) when our Minister for National Development, Lawrence Wong, mentioned that...
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By Investment Income for Life
I am an Accountant by training and is currently working in a global MNC in the Supply Chain industry. During my free time, I enjoy reading up on topics such as stock investing, insurance planning and property investment. Since 2012, I have started penning down my thoughts on certain financial matters while striving to achieve financial independence.
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