Cassandra Lee on Land Titles (Strata) (Amendment) Bill
The policy thinking behind the Land Titles (Strata) (Amendment) Bill has implications on how the government eventually designs the HDB VERS programme, said MP Cassandra Lee in parliament on Tuesday (Sep 8). She outlined two considerations - whether a tiered approach to redevelopment for private housing should also apply to public housing under VERS; and whether the VERS option should start at 70 years, if age matters in deciding when private estates should have an easier pathway to redevelopment. Ms Lee also noted that if more older private estates go en bloc, some owners may enter the HDB resale market with substantial funds and compete for the pool of larger flats with larger families who genuinely need extra room but might have less purchasing power.
The policy thinking behind the Land Titles (Strata) (Amendment) Bill has implications on how the government eventually designs the HDB VERS programme, said MP Cassandra Lee in parliament on Tuesday (Sep 8). She outlined two considerations - whether a tiered approach to redevelopment for private housing should also apply to public housing under VERS; and whether the VERS option should start at 70 years, if age matters in deciding when private estates should have an easier pathway to redevelopment. Ms Lee also noted that if more older private estates go en bloc, some owners may enter the HDB resale market with substantial funds and compete for the pool of larger flats with larger families who genuinely need extra room but might have less purchasing power.
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