Why SERS Is Tough On Elderly Singaporeans And What Should We Do Beside 50-Year Leases?

  • July 18, 2022
  • 8 min read
Join our Telegram group for instant notifications
Join Now

Ryan J

Ryan is an old school print journalist gone digital. He's lived in almost every type of housing in Singapore, from flats to landed homes. Over the past 18 years, he's been a content developer for companies large and small, a co-founder in an education business, and sometimes a voice on the radio. He also spends too much time and money on painting little plastic soldiers.

Notify of
Newest Most Voted
Inline Feedbacks
View all comments
10 months ago

What the Govt should do is to let the leases to run down. Most elderly will be happy to age in place and they don’t need the Govt constantly telling them that the value of their hdb will fall as the years go by. Since the elderly are not selling in the first place, what does market value mean to them ? It means nothing ! ! The elderly in old estates have paid for their 99 year hdb decades ago and it is only right for the Govt to honour their 99 leases and not forcefully acquire their homes. To house the growing population, the Govt can always build higher on existing brown field sites instead of acquiring hdb plots with “development value” Please consider the plight of the elderly.

10 months ago

To further illustrate my point about why letting the lease run down might be a better option, let’s take the example of a hypothetical 4-room flat with 50 years balance lease and valued at $400k with no mortgage. The “cost” of occupying the flat is 2k a month based on market rents. Over 50 years, the “value” of the stay enjoyed by the owner-occupier works out to $1.2M (2k times 600 months). So the Govt is saying due to lease decay and short balance lease, the flat is only worth $400k today if there is SERS. For the elderly, it might be better off letting the lease run down the next 50 years than taking the $400k from the Govt today. By keeping the unit for the next 50 years, the elderly do benefit more from it.

Stacked Homes
10 months ago
Reply to  Samuel

Thanks for sharing your thoughts, Samuel. We can imagine this situation would happen again and again as the narrative that Singapore must grow and adapt with its land scarcity continues.

Latest Posts

renovation timeline 9
Decor Advice How To Avoid A Renovation Nightmare: 8 Must Know Tips To Find The Right Interior Designer
June 3, 2023
picking right property
Advice We Are In Our Late 20s Looking For A Resale HDB In Queenstown: Is It Better To Buy An Older Central HDB Or Further But Newer?
June 2, 2023
Sunshine Plaza
Property Picks 5 Commonly Overlooked Condos That Are Very Convenient But In Noisy, High-Density Areas
June 1, 2023
Frankel Estate
Insider Tour Inside A Unique Danish Inspired 3-Storey House Filled With Light
June 1, 2023
5 Lesser Known Freehold 2 Bedroom Condos $995K And Under
Opinion 5 Lesser-Known Freehold 2-Bedroom Condos $995K And Under
June 1, 2023
maison.hv 13
Interior Inside A 52-Year-Old HDB Makeover: How A Couple Created A Stylish Parisian/Hampton Home With $48k
May 31, 2023
The Stirling Residences 26 30m lap pool
Condo Reviews Stirling Residences Review: A Surprisingly Quiet But Convenient Location At Queenstown
May 31, 2023
Bedok South Blossoms Facade
BTO May 2023 BTO Launch Review: Ultimate Guide To Choosing The Best Unit
May 30, 2023
reflections at keppel bay
Analysis Uncovering 10 Startling Loss-Making Condos Of 2022/23: What Valuable Lessons Can We Learn?
May 29, 2023
Joo Chiat Katong 110
Property Stories A Detailed Tour Of Joo Chiat And Katong In 60 Photos: Here’s Why This Charming Neighbourhood Is So Popular
May 29, 2023
Co living part 3
Opinion My Honest Experience Booking A Co-Living Space: A Review Of Hmlet’s Booking Process
May 28, 2023
hdb executive flat stacked homes
Living In Inside A 1,600 Sqft Executive HDB In Muted Colours With Playful Details
May 28, 2023
one holland village residences under construction
News This New Condo Rating System Is About to Shake Up Singapore’s Property Developers and Condos. Here’s Why.
May 28, 2023
hdb yishun
Advice We Own A 5-Room HDB & A 2-Bedder Condo. With The 15-Month Rule, How Can We Move To An Exec HDB?
May 27, 2023
5 Unique Homes In Singapore You Probably Didn’t Know You Could Live In
Property Picks 5 Unique Homes In Singapore You Probably Didn’t Know You Could Live In 
May 26, 2023
3 bedroom layout
Property Picks 5 Interesting 3 Bedroom New Launch Condo Layouts In 2023
May 25, 2023