‘We will stay there, we won’t sell’: Residents unaffected by new SERS criteria requiring 5 years minimum occupancy before resale

Several residents also said they did not plan to sell their replacement unit, located near their current flat, as they enjoyed living in the area. 

“I don’t intend to sell. I’ll just move there. I love my current house, but since I will have a new house to stay, why not?” said 56-year-old Patrick Ong, who works in the security industry. 

Mr Ong, who lives with his wife and one child in a three-room unit, added that he does not think he would need to “top up” cash to afford his new flat. 

In the same block, a 71-year-old resident who only wanted to be known as Mr Tan said he plans to get a smaller unit once he moves to the new site. He currently lives in a 3.5-room corner unit. 

HDB will build about 1,065 replacement flats ranging from two-room Flexi to four-room units at Ang Mo Kio Drive.

“For me, I’m thinking of getting a two-room Flexi, so I can get money back for my old age. Now what I need is money to go on with my life. There is no meaning to buy another 99-year house. But for others, maybe they have children, they need a bigger unit. A lot of different people have different requirements,” the semi-retired cleaner told CNA. 

“(The government) wants to demolish, then we have (no choice but) to shift. But they have to be fair to us. This block (has) a lot of elderly people. They cannot afford to buy again. They (have paid) instalment for so many years, then you go and add another layer.” 

Adding that this part of Ang Mo Kio is “very convenient” for him, Mr Tan said: “I don’t plan to sell. What for sell? I still need to get another place to stay right? So troublesome.”

On the other hand, some residents were happy to move.

IT professional Shanmugam was even looking forward to upgrading to a four-room. The 49-year-old’s current unit is a 3NG (New Generation) flat, where he and his family have stayed for 16 years.  

“My daughters have started growing up, so I actually thought of moving in the next five years once my daughter moves to junior college. … The SERS announcement was a surprise for us, but it’s okay,” he said. 

“(Upgrading) will affect my retirement funds a little bit, but it’s manageable.” 

While Mr Shanmugam acknowledged there might be Singaporeans who lament the new minimum occupation period ruling as they may wish to sell off their home quickly, “it depends on the age group that you’re looking at”, he said. 

Similarly, Ms Evelyn Seow and her family do not plan to sell their replacement flat. The 40-year-old who works in the travel industry told CNA that resale flats in Ang Mo Kio tend to be “very expensive”, so they plan to hold onto their new unit once they get it. 

“We will be planning to stay there, so we won’t sell. In Ang Mo Kio, the estates are already very expensive. So for us to get a place here, then to move there, we don’t have intention to sell,” she said.

“We understand a lot of people are not happy about it. But for us, we’re already used to this area and because it’s a good opportunity to buy a flat (at a lower price) … It’s still a lot, but ultimately, it’s still cheaper than buying a resale flat at Ang Mo Kio (which is) about S$700,000 to S$800,000 for a four-room. But looking at the (four-room at the new site), it’s about S$400,000.”

Ms Seow added that her father, who is in a wheelchair, would also benefit from the handrails that are installed in the units at the new site.