July 17, 2022

New Sers 50-year lease option: A solution now, but a tangle down the road?

By brit

SINGAPORE – Like many parents, retired factory worker Lim Kim Geok, 63, would like to bequeath her Housing Board flat to her son.

Now that her Ang Mo Kio three-room flat has been picked for the Selective En bloc Redevelopment Scheme (Sers), she can get a replacement flat if she can top up the difference in cost. It will have a new 99-year lease, but she does not have the cash.