The Sers, which was introduced in 1995, may well have served its purpose. It is time for the scheme to be reviewed and, perhaps, discontinued. Sers was launched against the backdrop of a rising property market, when it was economically justifiable for the Government to demolish old flats on sites that were not well utilised, so that the land could be freed to develop property that could, in turn, generate a good revenue for the state. The windfall for residents was, of course, the fresh 99-year lease that came with the replacement flat. My concern is that the Sers could become politicised and that voters may pressure politicians to have their HDB flats selected for redevelopment, even though it is not economically justifiable for the state to do so. Discontinuing Sers will also send a clear message to property buyers that they will not be bailed out for paying inflated prices on leases that have a short remaining duration.... Continue Reading