Revising Eligibility Criteria to Move Unsold Executive Condominium Units

Er Dr Lee Bee Wah asked the Minister for National Development (a) what is the current availability of unsold executive condominiums (ECs); (b) whether the Ministry will consider raising the income ceiling for first-time buyers who are newly-weds to help this sandwiched group of buyers for ECs; and (c) what is the average waiting time for new applicants of ECs.

Mr Khaw Boon Wan: About 2,230 Executive Condominium (EC) units are currently unsold. EC applicants have to wait about three years on average, from the time of the sales launch to the issuance of the Temporary Occupation Permit.

We last raised the income ceiling for ECs in 2011 from $10,000 to $12,000. We are in the process of reviewing the income ceiling.