Voluntary Early Redevelopment Scheme (VERS)

Government will not rule out possibility of private developers having role in VERS

The Government will not rule out the possibility of giving private developers a role in the Voluntary Early Redevelopment Scheme (VERS), Minister for National Development Lawrence Wong said in Parliament on Monday (Sep 10). Responding to a question from MP Cheryl Chan, Mr Wong said the Government already “inject(s) some private development” in the redevelopment process for the Selective En bloc...

Avoid speculating in hope of a ‘big payout’: Lawrence Wong

It would be "unproductive" to play up expectations of homeowners due to the recently announced Voluntary Early Redevelopment Scheme (VERS) - a scheme to take back old Housing Board flats before their leases end, said National Development Minister Lawrence Wong on Tuesday (Aug 21). "All of us, including the media, (have) to make sure that we don't play up expectations of the market or ... get people all...

It’s all about the timing for HIP II, Vers to be effective: Experts

A programme to upgrade every Housing Board flat after 60 years should be planned such that it does not take place in blocks right before they undergo a new voluntary redevelopment scheme, said experts and MPs. Their comments come a day after the National Day Rally, when Prime Minister Lee Hsien Loong announced the multi-billion dollar Home Improvement Programme (HIP) II. It upgrades all flats that are...

Govt wants to share its thinking on next phase of public housing, even if Vers details not ready: Lawrence Wong

While many details for the new Voluntary Early Redevelopment Scheme (Vers) will not be ready for some time, the Government felt that it "owed" Singaporeans an early explanation on its thinking for the next phase of public housing, National Development Minister Lawrence Wong said on Tuesday (Aug 21). Speaking in an interview with Channel 5's Talking Point programme, Mr Wong called for patience as the...

Gearing up for Vers: Some flat owners want earlier rollout of new HDB scheme

A day after the new Voluntary Early Redevelopment Scheme (Vers) was announced, some residents in public housing estates that could be among the first in line are already wishing for the scheme to be introduced earlier. Residents of Chai Chee and Marine Parade, especially the elderly, told TODAY they may not be able to benefit if the scheme is only rolled out about 20 years later, as Prime Minister Lee...

New VERS scheme could bring about ‘acrimony’ among residents, warns Alex Yam

The chairman of the Government Parliamentary Committee for National Development Alex Yam on Sunday (Aug 19) raised concerns about a new housing scheme which will allow more HDB households to benefit from redevelopment before the 99-year leases on their flats expire. Prime Minister Lee Hsien Loong revealed plans for what is called the Voluntary Early Redevelopment Scheme (VERS) during his National Day...

Scheme planned to redevelop more old HDB flats before leases end

The Government is planning a new scheme which will allow more HDB households to benefit from redevelopment before the 99-year leases on their flats expire, Prime Minister Lee Hsien Loong announced on Sunday (Aug 19). The Voluntary Early Redevelopment Scheme (VERS) is part of a “long-term plan” to allow the Government to progressively redevelop precincts, Mr Lee said in his National Day Rally speech....

Devil’s in the details, but flat owners should not expect windfall from new HDB scheme: Analysts

The housing initiatives announced at the National Day Rally — particularly the new Voluntary Early Redevelopment Scheme (Vers) — will go some way to reassure homeowners whose leases are running down, said some analysts interviewed by TODAY. Nevertheless, the devil is in the details, and whether the scheme will provide a viable solution to the hotly-debated lease decay issue remains to be seen, they...

Compare listings

Compare