Read more Property Assets Marketplace Widely Solid But Faces Government Risks

Property Assets Marketplace Widely Solid But Faces Government Risks

Together with the government spending around $2.9 billion in Home Improvement Programme (HIP) for Home board flats, around 170,400 units have had the upgrade functions done, while 132,300 are still undergoing upgrade functions as of 31 October, reported that the Straits Times.

At a release, HDB revealed that a total of 320,000 HDB units beneath the 1986 age-band were qualified to experience HIP. It noted that they’ll execute the remaining works progressively.

While it was formerly offered to flats constructed around 1986 that had not profited from the prior upgrading programme, the strategy was extended to flats constructed from 1987 to 1997, which additionally benefited around 230,000 HDB families.

The HIP concentrates on essential development related to public health and safety. Fully paid by the authorities, functions comprise repairing structural cracks, upgrading electrical load and replacing waste or dirt discharge stacks that are parts of pipes.

Flat owners can also decide to have optional enhancements, including metal grille gates, fresh decorative doorways and refuse chute hoppers. The flat owners pay for their share of functions inside their flats.

The programme can only move when at least three-quarters of those eligible families within a block have agreed to the functions.

An upgrading alternative is also available for the older and vulnerable individuals whose cubes do not qualify to this.

Dubbed the Enhancement for Active Seniors (EASE) programme, the strategy enables seniors to pick out of elderly-friendly fittings such as installation of grab bars in ramps and bathrooms as well as slip-resistant treatment for flooring tiles of bathrooms.

About $80 million has been invested by the authorities on EASE as of 31 March, while over 206,000 families applied to the programme as of 31 October.