When people want to get a new HDB flat, they usually take the HDB BTO route. Or they might turn to Sale of Balance Flats (SBF) or open booking. On the other hand, these sales exercises are very competitive, so it’s tough to get a queue number.
One option is to go for a BTO flat that has finished its five-year Minimum Occupation Period (MOP). Since the flat is only five years old, it’s still considered new and in good condition.
Another option, which is less talked about, is to get a SERS replacement unit that has reached its MOP. Because by the time the unit has finished its MOP, it’s only around two to three years old.
SERS replacement units start their MOP earlier…
When the news about the S$1.4 million resale transaction for the SERS replacement flat first came out, many people (including this writer) were confused on why it had entered the resale market so early. Its lease had only started in 2019, thus making the unit only three years old when it was resold.
The reason why the owners could sell it that early was because unlike the typical BTO flats, the MOP for these replacement units would start earlier.
One of the benefits that homeowners affected by SERS have is an option to buy a replacement unit at a designated site. For those who chose a unit at these sites, the MOP would be either of the following, whichever is earlier
- 7 years from the date of selection of the replacement flat, or
- 5 years from the date of key collection
So for these owners, they basically get a headstart in their MOP. Assuming the replacement site takes five years to build, they can just live in the unit for two years before selling it in the open market.
This is one of the reasons why people say getting SERS is like winning the lottery. Because owners get to sell their flat even earlier than BTO flat owners, they can price it higher due to the longer lease and younger age of the flat.
… but not for the replacement units for SERS announced from 7 April 2022 onwards
Last month, 99.co found out from HDB’s website that HDB has changed the MOP criteria for those buying a replacement flat through SERS.
For SERS projects announced from 7 April 2022 onwards, the MOP will be five years starting from the key collection date. This is similar to the typical BTO flat.
7 April 2022 is also when HDB announced the Ang Mo Kio SERS.
With this change, owners of these SERS replacement flats can no longer sell their flats earlier. Just like the typical BTO flats, these flats would only enter the resale market five years after they’re completed.
Nevertheless, there are still a few SERS replacement projects with the MOP starting from the flat selection date. This means flats from these projects can enter the resale market around two years after they hit their Temporary Occupation Period (TOP).
If you’re looking for a new HDB flat in the resale market, here are the projects you might want to focus on. We’re narrowing down to those less than five years old, with the TOP date no earlier than 2018.
SERS replacement flats that are hitting the resale market
1. City Vue @ Henderson
TOP: 2018
Flat types in the project: 2-room, 3-room, 4-room, 5-room
First on our list is the City Vue @ Henderson project, which serves as the replacement site for the Redhill Close SERS. Interestingly, the site of City Vue used to be occupied by two blocks that were later announced for SERS back in 2007.
With the project completed in 2018 and the lease starting in 2019, it’s only around four years old. And given the earlier start in MOP, the project has started clocking in resale transactions since November last year. It has even recorded million-dollar sales – the most notable, as of writing, being the S$1.4 million record transaction.
What makes units here so highly sought after is its convenient location. It’s around a nine-minute walk to Redhill MRT and Tiong Bahru MRT.
Within the development itself, you can find sky parks and sky bridges on the 28th floor. Units on the highest floors also boast unblocked city views.
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2. Blk 53 Strathmore Avenue (Forfar Heights)
TOP: 2019
Flat types in the project: 2-room, 3-room, 4-room
Blk 53 of Forfar Heights shares a name with an HDB project that started its lease in 2006, but the block was newly built as a replacement site for those affected by the Tanglin Halt SERS. This SERS, in particular, is part of HDB’s Remaking Our Heartland (ROH) initiative to rejuvenate the Dawson area.
With the block completed in 2019, the units here are only around three years old. So we expect flats here will enter the resale market soon when they complete their MOP.
The block is just around a seven-minute walk to Queenstown MRT, and is within walking distance to IKEA, and Mei Ling Market and Food Centre.
Within the development, you can also find a PCF Sparkletots Pre-school, a cafe and a minimart.
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3. Dawson Vista
TOP: 2020
Flat types in the project: 3-room, 4-room, 5-room
Dawson Vista is another SERS replacement site for those affected by the Tanglin Halt SERS.
Like the other SERS replacement sites in Dawson, this development is within walking distance to Queenstown MRT.
More importantly, Dawson Vista is one of the projects that are closer to Dawson Place. The shopping mall is within a three-minute walk and comprises a variety of retail shops, Subway and a 24-hour NTUC Fairprice for your daily necessities.
Dawson Vista is also located just opposite SkyVille @ Dawson, which is best known for its rooftop garden, offering scenic views of the city. On the ground floor of the development, you can find a Sheng Shiong and a kopitiam.
Alternatively, there’s a minimart and a cafe at Blk 78B of Dawson Vista.
But what stands out to us the most about this project is its Alice in Wonderland playground.
4. SkyParc @ Dawson
TOP: 2020
Flat types in the project: 2-room, 3-room, 4-room, 5-room
As its name suggests, SkyParc @ Dawson is one of the projects with HDB’s “Housing-in-a-Park” vision. Like SkyVille and SkyTerrace, it has unique features like sky gardens and terraces to create a park-like environment that’s usually not found in a typical public housing project.
Another highlight is that it has an eco-corridor running across it. Here, you can find mature trees that provide shade, and insect hotels for the biodiversity in the area to thrive.
This development is also ideal for those with kids. For instance, it has an E-Bridge Pre-School (part of the Etonhouse International Education Group) located within the development.
On top of that, you can find a minimart and a cafe (aptly named SkyCafe) here. We also like that the cafe is pet-friendly!
For daily necessities, the nearest supermarkets include the Sheng Shiong at the nearby SkyVille (three-minute walk) and NTUC Fairprice at Dawson Place (five-minute walk).
5. SkyOasis @ Dawson
TOP: 2021
Flat types in the project: 2-room, 3-room, 4-room, 5-room
SkyOasis @ Dawson is one of the newest projects under the “Housing-in-a-Park” theme. It’s also one of the last SERS replacement sites designated for the Tanglin Halt SERS that was completed, having reached its TOP only last year.
Like the other SERS replacement projects in Dawson, SkyOasis has commercial and communal facilities such as a minimart, a cafe and a childcare centre.
It’s also ideal for those with kids, with Queenstown Primary located just next to the project.
6. SkyResidence @ Dawson
TOP: 2021
Flat types in the project: 2-room, 3-room, 4-room, 5-room
With a total of 1,217 units, SkyResidence @ Dawson is the biggest SERS replacement project for the Tanglin Halt SERS.
So within the development, you can find larger commercial amenities in the form of a supermarket and the Margaret Drive Hawker Centre. The hawker centre is expected to open in August this year.
This HDB project is also one of the closest to recreational facilities in Queenstown. For instance, Queenstown Public Library is located at its north, across the street at around a five-minute walk. Likewise, Queenstown Stadium and Swimming Complex are around a five-minute walk away from the development.
Would you buy a flat from any of these SERS replacement sites soon? Let us know in the comments section below.
If you found this article helpful, 99.co recommends Full list of BTO projects hitting MOP in 2022 + our picks near the MRT and How much should you pay for a resale HDB flat in 2022?
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