The Housing and Development Board (HDB) has adjusted its criteria for when buyers of replacement flats under the Selective En bloc Redevelopment Scheme (SERS) will be able to sell their units on the open market.
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For SERS sites announced on or after Apr 7, buyers will only be able to sell their replacement flats five years from the date of collecting their keys, according to HDB's website.
This means the changes will start with the flats in Ang Mo Kio Drive, which were offered to residents of four nearby blocks that were selected for SERS. The Ang Mo Kio SERS announcement was made on Apr 7.
Under the previous criteria, home owners could sell their unit seven years from the date of selection of the replacement flat, or five years from the date of key collection - whichever is earlier.
This meant that some owners under SERS were able to sell their flats before they had lived in them for five years.
Those who buy a new flat from HDB and on the resale market are already subject to a minimum occupation period of five years.
The revised rules "will put all HDB buyers on the same level playing field", whether they are buying a Build-to-Order flat, Sale of Balance flat, SERS or resale flat, said Huttons Asia's senior director for research Lee Sze Teck.
