Such en bloc is referred to as the Selective En bloc Redevelopment Scheme (SERS).
If you currently have ownership in a private property and are affected by SERS, HDB will allow you to keep the property. However, your family must live in the new flat to fulfil the Minimum Occupation Period (MOP) of 5 years. You can read more about SERS here: https://www.hdb.gov.sg/cs/infoweb/residential/living-in-an-hdb-flat/sers-and-upgrading-programmes/sers/your-sers-journey
Hope this answers your question.
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If you are referring to the HDB SERS program, you can refer to this under
2.8 Owning or having an interest in another property (in Singapore or overseas):
"If you, your occupiers, your or their husbands or wives own another property (local or overseas)* on the SERS announcement date, you may keep the property. However, you, your occupiers and your and their husbands and wives must live in the replacement flat after the completion date."
ie. You will need to stay in the replacement flat and fulfil the 5 year MOP stay period before you can rent out the replacement flat as a whole unit or be eligible to sell it.
Hope this clarifies. May I know which condo you are looking at? Thanks and look forward to value-add to your housing plans.
Ivan Ng Realtor
ERA Senior Marketing Director
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Under the Selective En-bloc Replacement Scheme (SERS), if you currently own a private property, you will not be required to sell it off, and will be able to hold onto it.
However, upon getting the keys to the replacement flat, you will be required to stay in and fulfill the 5-year MOP, before being able to sell or rent it out.
Should you decide to sell off your private property, you will also not be able to purchase another residential property within the 5-year MOP.
I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.
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