 Speaking at the launch of Tanjong Pagar GRC's 5-year Master Plan on 19 March 2011, Minister Mentor Lee Kuan Yew said, "85% of Singaporeans are living in HDB flats and we intend to keep the values of these homes up.It will never go down", reaffirming the PAP government's policy of asset enhancement.On 23 March 2017, responding to a news report over astronomical prices of several short-lease HDB resale flats, Minister for National Development Lawrence Wong cautioned home buyers that only 4% of the flats have been identified for Selective En bloc Redevelopment Scheme (Sers) where the state buys back these flats at market rate and offers affected residents discounted new units at another location.