More land will be allotted for executive condominiums (ECs) in 2012, said the Ministry of National Development (MND), noting that it is prepared to provide sites for 5,000 EC units next year.
This move comes after the government had committed to help more higher-income Singaporeans own private housing by broadening the EC market.
The government raised the monthly income ceiling for buying new EC units from S$10,000 to S$12,000 in August.
The increased income ceiling has helped about 220 households, who have since reserved their ECs, according to Tan Chuan-Jin, Minister of State for National Development and Manpower.
First introduced in 1995, the EC scheme offers Singaporeans an affordable private housing option. Since its introduction, around 14,600 EC units have been launched, with 3,000 units coming on-stream.
Tan, however, noted that the majority of Singaporeans will continue to reside in public housing, and reiterated that the government remains dedicated to helping first-time owners and newlyweds acquire their own flats.
He added that the government will start paying more attention to assisting HDB second-timers by next year.
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