Madam Leong Chui Hwa was worried at first when her three-room Housing Board flat in West Coast Road was picked...
ERA Realty's head of research and consultancy Nicholas Mak said the reaction may have stemmed from residents not realising such substantial cash top-ups are sometimes needed.
Sers has been traditionally thought of as striking the lottery in getting a new subsidised flat, but a West Coast resident who wanted to be known only as Madam Chew was in two minds about it. It is an upgrade from her current 60 sq m three-room home, which she purchased in 2015."I think it's a good deal because we are able to get a new flat that's closer to the MRT station," said the manufacturing company director, 43.When four blocks in East Coast Road were selected for Sers in 2011, some owners were unhappy that the replacement flats were some 2km away, in Chai Chee.
Mr Mak added:"HDB is essentially buying back the flats at resale prices, and offering new replacement flats at subsidised BTO prices. Most said they were satisfied with the scheme. Those who chose a similar-sized flat did not have to fork out extra cash, while those who chose a bigger flat topped up at least $100,000.
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