THE EFFECTIVENESS OF HOUSING & DEVELOPMENT BOARD'S SELECTIVE EN BLOC REDEVELOPMENT SCHEME (SERS)

Abstract

Many developing countries are experiencing rapid ageing of housing. In this aspect, Singapore's success in nation-rejuvenation can provide useful lessons toward innovative policy-making for these countries. In Singapore, the Selective En Bloc Redevelopment Scheme (SERS) is part of the Government's estate renewal plans for older HDB estates. This study hypothesized that certain socio-economic characteristics of SERS residents such as income and age were likely to influence their response to SERS. In addition, the study aimed to identify the concerns of residents and to determine the factors that contribute to the residents' decision to buy a flat offered under the SERS programme. Lastly, this study explored other factors, which could be incorporated into the "relocation" package with a view to further enhance the effectiveness of SERS. Using data on 208 families from different SERS projects, the study revealed through chisquare (x 2) test that income and age of residents had influenced their response on SERS. Hence, the repayment of mortgage loan was found to be the main concern, especially among the older and lower income residents. Further, factor analysis was used to determine the factors that influenced residents' decision to buy a flat offered under SERS. It was found that finance was the main factor that had influenced the residents' decision to buy a flat offered under SERS. This was followed by location, administrative, reasonable waiting time and social factors. Several possible explanations for these factors were offered. Findings also suggested that credit assessment should be imposed on residents who upgrade. However, the impositions of such policy would implied that the objective to allow residents to upgrade would have to be moderated to provision of subsidized housing on a need basis.