[sgbuffett]

We all like to accuse the govt of being heartless problem causing etc. But let's look at the issue objectively.

1. These 4 room flat kena SERS are 43yo flats with 56yrs compensated at $450K.

2 The new flats are $550+K...Market value as AMK is a good location.

3. The price gap is due to the difference in lease which is 99yrs for the new flats vs 56yrs left for old flats

4. It's a very good deal for those who can afford to top up ...as for 100K they turn their old flats into fresh lease. Those old flats with less than 60yrs left normally very hard to sell as buyer cannot get loan.

5. For those who cannot afford.... they can sell to a buyer and there are many who want a new flat through SERS. They can use the proceeds to  buy the same type of old flat near by ...they can make a profit as their old flat will fetch a higher price boosted by SERS 

To do a 1 old for 1 new change of flat is not fair as taxpayers will be losing 100+K ....and giving away free lease extensions and disproportionate amounts of money...