National Day Rally: Housing announcements
More home owners get help to upgrade flats
The Home Improvement Programme (HIP) will be expanded to include flats built up to 1997. The programme provides subsidies of up to 95 per cent for selected improvements and upgrading to flats.
Previously, only flats built up to 1986 were eligible.
With the expansion, another 230,000 flats in estates such as Pasir Ris, Yishun, Tampines and Jurong will benefit from HIP.
When flats reach 60 to 70 years old, they will be eligible for another round of improvements, dubbed HIP II.
New scheme for older flats to go en bloc
Called the Voluntary Early Redevelopment Scheme (Vers), it will allow residents to vote to allow the Government to take back their flats once their blocks reach 70 years.
If successful, residents will be compensated and given help to get a new flat to live in.
Unlike the Selective En bloc Redevelopment Scheme (Sers), where residents have no choice over whether their flat is taken back, Vers will take place only if residents vote for it. If residents vote no, they can continue to live in their flats until the end of their lease.
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