Morning Shot: As Condos Age, Who Pays for the Repairs?

More than 1,000 private residential developments in Singapore are now over 30 years old, raising urgent questions about how ageing condominiums should fund major repairs and upgrades. The Government is reviewing the Building (Strata Management) Act, with proposals that include lowering approval thresholds for essential works, requiring training for management council members, and potentially co-funding lift upgrades. While many residents and managing agents welcome the changes, concerns remain about implementation, funding gaps and whether subsidies could unintentionally delay necessary maintenance.  Joyce Lim, Senior Correspondent at The Straits Times covering property news, joins The Breakfast Show to unpack why ageing condos are becoming a growing issue in Singapore, the tensions between owner-occupiers and investors, and what the proposed reforms could mean for residents and estate management.See omnystudio.com/listener for privacy information.