How VERS Works
Unlike the Selective En bloc Redevelopment Scheme (SERS), which is compulsory for selected sites, VERS is voluntary. It will be offered to flats when they reach about 70 years old. If your flats are selected, you and your neighbours will vote on whether to accept the Government’s offer to buy back your flats. The aim is to tackle lease decay and give more homeowners a chance to benefit from redevelopment before their 99-year lease runs out
Why It Matters
Singapore has many towns with flats approaching 70 years of age in the next few decades. VERS is a preemptive solution to avoid large-scale lease expiry problems. Reinforces that older flats lose value as lease runs down, affecting resale and financing.
a. Pre-emptive approach:
VERS is designed to refresh precincts earlier, rather than letting them decline until lease expiry.
b. Urban rejuvenation:
Redevelopment will also update amenities, improve layouts, and modernise infrastructure, keeping older estates liveable and attractive.
Key Differences From SERS
1. Wider coverage: More estates could benefit, compared to SERS, which is highly selective.
2. Voluntary participation: A project only goes ahead if enough residents vote “yes.” (The exact voting threshold has not yet been announced.)
3. Fewer future SERS projects: The Ministry of National Development has said most sites with strong redevelopment potential have already been chosen, so there will not be many more SERS announcements.
What’s Still Unknown
Details of VERS are still being worked out:
The voting threshold for approval has not been confirmed. Will it follow something similar to private en bloc rules (80–90%), or be adjusted for public housing?
Replacement flats for residents will be built nearby, but the exact lease options and compensation packages have not yet been revealed.
While details aren’t out, compensation will likely reflect market value with some form of top-up to help owners buy a new flat but unlikely to match SERS’s generous packages.
The Government will gather public feedback before launching the scheme in a few selected sites in the first half of the 2030s.
But it's not as simple as it sounds...
Consensus challenge:
VERS requires collective agreement. If the threshold is high, precincts with more diverse ownership (e.g. rental units, absentee landlords) may find it harder to reach consensus. If a precinct rejects VERS, will the Government return with another offer later?
Timing matters:
If residents think waiting will get them a better deal later, they might vote “no” initially. This could delay redevelopment for decades.