The Selective En-Bloc Redevelopment Scheme (SERS) is often considered the next big “HDB lottery winner”, next to a central region BTO flat. In fact, one of the reasons many Singaporeans want a central region flat is because they believe there’s a higher chance of SERS. But coming back to reality, it’s only a handful of Singaporeans who will ever get so lucky – here’s what you need to know about it:
What is SERS?
SERS is a way for HDB to rejuvenate ageing housing estates. The first SERS exercises took place on 22nd August 1995, in Tiong Bahru.
At the time, it was erroneously believed that SERS was the government solution to expiring HDB leases. The property market largely believed that SERS, or a SERS equivalent, would kick in for every HDB estate, long before the 99-year lease could expire. It’s worth noting, however, that the government never made such claims....