Minister for National Development, Mr. Mah Bow Tan, has said that more executive condominiums (ECs) will be built this year in order to meet the “sandwiched group’s” housing needs.
This group pertains to couples who are not qualified to avail for new HDB flats because their combined monthly income exceeds the indicated cap of $8,000, but who may find private property as too expensive.
According to Mr. Mah, ECs will comprise around 10 percent of the projected 12,000 new flats planned to be built this year.
“It is well-designed, has good location, it is something that will have all the amenities and at the same time you can enjoy the grant…that is the reason why we will be putting more ECs on the market,” said Mr. Mah.
He added that ECs will be one housing type that the government will keep tabs on, since HDB provides homes to about 80 percent of the population, from low to the upper-middle income groups.