How much are the sers flats?
It’s been quite a while since the announcement and the big drama that quickly became the talk of the town in 2022.
Finally, on 2nd October 2023 we started to hear some residents saying they received their booking Q numbers. The time has finally come to see how affordable are these SERS flats.
According to the milestone from the SERS guide, 4Q2023, which starts at Oct 2023, we should be getting ready to select our new flat.
I immediately login to the HDB website using my SingPass.
Saw that my Q number was 102. First thought was was it a good number?
Next I found the link to download the Sales Brochure for Pine Ville AMK as well as the 50-yr leased and 99-yr leased pricing for all the units.
After the prices were made known, several elderly folks were quite unhappy that the prices are so expensive. Just a 99-yr lease 4rm at 2nd level is already close to half a million dollars.
If we looked at the 9th November 2022 Straits Times report on AMK SERS compensation, HDB bragged about offering higher than normal value. For a 4-room, the compensation was said to be between $410,000 – $479,000. Throw in the reasonable expenses of $17,300 – $19,400, residents will be getting between $427,300 – $498,400.
So therefore for someone who is already in their 70s & 80s currently living at 2nd level will say get $427,300. But the new 2nd level cost starts at $458,400; which requires a top up of $31,100.
Some people might say downgrade to a smaller unit or chose a 50-yr leased unit. But ultimately it is always easier said than done for outsiders as they do not have a stake in this current estate.
