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Residential
To plan how to pay for your new flat, learn how the Selective En bloc Redevelopment Scheme (SERS) compensation amount can be used for your new flat purchase and possible related expenses.
We will use your total compensation to pay off what you owe on your SERS flat. This includes:
The remaining amount will form your balance compensation.
When you return your SERS flat, the retention sum and any remaining amount will be given to you in cash.
You will be able to use all the CPF money (refund and savings) in your CPF OA to pay for the new flat. In the event that you do not have sufficient CPF money, you can pay the outstanding amount with a combination of:
*The retention sum will be released as cash, together with any remaining balance compensation, when you return the SERS flat.
These videos can give you a better idea of how to plan the finances for your new flat.
Watch in: English | Mandarin | Malay | Tamil
If you intend to take an HDB housing loan or a bank loan to pay for the replacement flat, these are the important details and conditions that apply.
If your existing flat is or was financed by an HDB concessionary housing loan, you will still be eligible for another HDB concessionary loan for the replacement flat. You must not own any private property*, if you intend to take a housing loan from HDB.
*Private property refers to any property (flat, house, building, or land) other than the SERS flat (whether residential or otherwise, including but not limited to HUDC flats, executive condominiums (ECs), properties outside Singapore, properties acquired by gift or inheritance and properties owned, acquired, or disposed through nominees).
If you are eligible and intend to take an HDB concessionary loan to buy your new flat, you will need to get an HDB Loan Eligibility (HLE) letter. Our officers will invite you to apply for it when we serve the compensation notice to you.
If you take an HDB loan, you will not be able to get another HDB loan within 30 months from the date of purchase of replacement flat.
The housing loan that can be offered will depend on the following:
If you are applying for a second or subsequent HDB concessionary loan, you must use the following to buy the replacement flat:
Example of a 3-room flat owner buying a replacement flat
Example 1
Example 2
Example 3
Balance compensation
$20,000
$50,000
$80,000
Retention sum
$1,000
Remaining balance compensation
$19,000
$49,000
$79,000
Amount you can keep (advance payment of up to $35,000 or 50% of remaining balance compensation, if this applies)
$19,000 (100% of net cash proceeds)
$35,000
Amount to reduce second concessionary loan
Nil
$14,000
$39,500
Our SERS Financial Plan service can help you work out your finances by providing you your estimated loan amount and monthly instalments.
If you prefer to take up a bank loan, you can check with the various banks to find out more about their housing loan packages.
See what flat owners of Blocks 562 to 565 Ang Mo Kio Avenue 3 can look forward to at the new site in Ang Mo Kio Drive, which will be developed for them to live in and enjoy.
Get the site and replacement flat details, as well as the status of announced SERS projects.
Rehousing benefits are based on the status of the households. The benefits may include a SERS grant, concessions on resale levy or premium, and type of flat eligible for.
We will pay you the compensation based on the market value of your flat as at the time of SERS announcement, and some reasonable expenses to help you move.