New SERS package ‘never enough’ for AMK residents: Huttons
HDB offered 10% of build-to-order flats for eligible residents.
The HDB should review its Selective En bloc Redevelopment Scheme (SERS) policy as the new package for Ang Mo Kio (AMK) residents may “never be enough” and may even question the housing location, Huttons Asia said.
In a statement, the real estate analyst was commenting on the SERS package which offered 10% of Central Weave at AMK build-to-order (BTO) flats or 89 flats to residents.
With this, Huttons said this number of flats will lead to a stiff competition as SERS applicants will have to ballot for a flat.
“The other BTO locations are in non-mature estates and will be seen as worse off for them,” it said.
These applicants will also pay the same price as public applicants.
“Hence it will most probably be residents who are younger and qualify for a longer loan tenure,” said Huttons.
The package may appease residents impacted by SERS policy but it will not be enough. Residents will also ask why the offering is limited to 10% and why the BTO in Bukit Merah was not offered to them.
Aside from the SERS policy, HDB must also rethink its Voluntary Early Redevelopment Scheme as flats are ageing.