Monthly Spotlight

Victory for Housing: Modest Support For Vers

The 99-year lease on public housing (HDB) in Singapore has been a hot topic in the last month or two. Some Singaporeans are concerned that their flats, which may not be eligible for the Selective En Bloc Redevelopment Scheme (Sers), will lose its value as the 99 years lease runs out.

As a solution, Prime Minister Lee Hsien Loong announced during his National Day Rally speech a new Voluntary Early Redevelopment Scheme (Vers) which will be rolled out in about 20 years across HDB estates built in the 1970s. Current HDB home owners will vote to decide if they want the authorities to take back their apartments for redevelopment at around the 70-year mark of their lease.

More than 2 in 5 Singaporeans (42%) agree that Vers is a good solution for HDBs which do not qualify for en bloc. Only 21% say that they disagree with the initiative. However, 37% have still not formed an opinion.

When it comes to the Government’s current policies with respect to HDB housing, 45% of Singaporeans are supportive. Less than one in five (18%) oppose the current way things are run.

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