If you own an older HDB flat, how would you feel about the announced end of SERS? A little nervous now? This is the question I’ve been asking since August, when it was announced that the last SERS exercises were done. There’s now nothing to look forward to (if you can use that term) except VERS, of which we may see the first few exercises in around 2030. Now, most buyers knew what they were getting into – the concept of the 99-year bomb has been talked about for decades, before this point. But two things have now made it all the more urgent: first, the fact that even the best located new flats now have no hope of escape. Even if you’re in a high-demand area like Tiong Bahru, you know your flat isn’t going to keep appreciating like before. At some point, lease decay will overpower even the best transport infrastructure and amenities....