Under this programme, senior citizens will benefit as lift landings will be installed on each floor of the flat.

While LUP will only make a slight difference to the flats’ official valuation in the preferred blocks, the cash-over-valuation – which refers to the premium that is demanded by sellers over their official valuation – will have an increase of $5,000 to $10,000, say the property players.

Mohamed Ismail, chief executive of PropNex, stated, “The Lift Upgrading Programme definitely adds greater value. This is especially so when Singapore faces a greying population. A lift landing on every floor becomes a plus point.”

Property experts noted that PAP wards, which have already gone through this programme, bear out the flat values’ effect.

Dennis Wee Group director Chris Koh added that the units in Potong Pasir and Hougang are already recognised by buyers of resale flat because of their accessibility and location.

For example, the website of the Housing Development Board showed that a three-room flat situated in Hougang has a median price of $233,000. This price is higher compared to those units found in popular towns like Yishun and Serangoon.

Mister Mohamed believes that the introduction of LUP to the wards of the opposition, for the first time, may help to support the idea that the residents living in the area are not deprived.

”You may not be the first in line but you don't lose out either,” said Mr. Mohamed.

Ang Hoo Choi, a 63-year-old taxi driver who resides at Block 352, Hougang Avenue 7, viewed this as good news. His block is one of those blocks that are chosen for the upgrading programme.

Next year, his family will move to Punggol. By then, he expects that he is able to sell his unit for a much higher price.

He said, “We were hoping to sell it at about $300,000 but now we may be able to get $320,000 for it.”

Though, residents – who have no plans of selling their flats – liked the comfort the LUP offers, were clearly not excited regarding the price windfall in any property.

For over 20 years, Ong Cheng Lam, a 69 years old bill collector, has been a resident of Potong Pasir Avenue 1. He stated, “Property prices are so high now. Even if I sell my flat, I will still have to pay a high price for a new one.”

”But I'll support the programme because it will be more convenient for residents here,” he added.

According to the Sunday Times, circulars are already distributed to all residents in the chosen blocks.

The first six chosen blocks in Hougang are Blocks 351 and 352, as well as the Blocks 354 up to 357 located in Avenue 7. The chosen blocks in Avenue 1 in Potong Pasir are Blocks 101 up to 109.

Soon, there will a poll to be held among the residents of each of the chosen block. If 75 percent of these residents are in favour of the programme, the LUP will proceed.

The upgrading bill to be paid by the Government, which is between 75 percent and 90 percent, will depend on the type of the flat.

Depending also to the type of the flat, the remaining 10 percent to 25 percent of the bill will be shared between the residents and the town council.