HDB lease decay refers to the reduction in a flat's value as its remaining 99-year lease shortens, with value potentially becoming zero upon expiry. While prices for some older HDB flats, particularly larger units in desirable locations, have shown resilience, the general trend indicates a decline in value as the lease runs down. For instance, flats with around 50 years of remaining lease have transacted at roughly half the price of those with over 90 years. A key inflection point for depreciation is when a flat's remaining lease drops below 60 years, which impacts financing options, including restrictions on CPF usage and bank loan tenures. Government initiatives such as the Selective En bloc Redevelopment Scheme (SERS) and the Voluntary Early Redevelopment Scheme (VERS) are aimed at addressing this. SERS is a rare, compulsory scheme offering compensation at market value, while VERS, a voluntary program for flats aged 70 and above, will likely offer less generous compensation and is expected to roll out in the 2030s. The HDB's latest rules also link CPF usage to whether a flat's lease can cover the youngest owner here until age 95.