Homeowners whose flats are chosen for the Selective En Bloc Redevelopment Scheme (SERS) will soon be allowed to choose to buy a new flat on a shorter lease, or sell leases back to the government. National Development Minister Desmond Lee said this will help strike a balance between housing redevelopment plans and meeting the needs of existing residents, especially seniors. He added that flats selected for past SERS exercises were generally younger, and the market value of these flats was sufficient for homeowners to purchase a similar new replacement flat.
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