October 30, 09:42 AM 
514 Chai Chee Lane 03-16, Singapore 469029 Joo Chiat could become the first 100 percent private property constituency in Singapore in a few years' time.
Its remaining four Housing Board blocks will be demolished under the Selective En bloc Redevelopment Scheme.
Residents of the last four blocks of HDB flats are expected to be resettled within the next two or three years.
The four HDB blocks along East Coast Road are 48 years old and have a total of 129 housing units.
These are home to 1 percent of the single member constituency's 37,000 residents.
The rest of Joo Chiat's residents reside in condominiums and landed property.
However, one issue plaguing the community is that the retirees living in the area are cash-poor but are staying in landed property houses.
Asset-rich but cash-poor retirees form a part of the 36 percent of Joo Chiat's population above 50 years old.
This has resulted in some retirees receiving as little as $100 GST rebates as they live in a house.
One of the options to get cash is to sell the house.
Another way is for the elderly to take up a reverse mortgage. This means that the retirees will have to take up a loan against their property, so that they can have some income.
Charles Chong, PAP MP for Joo Chiat, who won the seat with 51 percent of votes in the 2011 General Election -- a margin of 382 votes, said: "I have to take care of their problems and try to make it easier for them. If you concentrate on that, the votes will take care of themselves later on."
Top photo from here
If you like what you read, follow us on Facebook, Instagram, Twitter and Telegram to get the latest updates.