The Housing Board announced on Wednesday a tweak in the Selective En Bloc Redevelopment Scheme (Sers) to make it 'more favourable' for residents being forced to relocate, a first since the scheme began in 1995.
This means that those affected will now have priority allocation - up to five per cent - for all upcoming Built-To-Order launches, as well as having the option to defer the entire resale levy till they sell their flat, or have it capped at $30,000 with the remainder waived off.
In addition, those above 55 are able to use more of their Central Provident Fund to purchase the replacement flat, should their current finances prove insufficient.
Under Sers, selected older buildings are redeveloped to make the best use of land. Owners get market-value compensation as well as several concessions.
Source: The Straits Times