The revised income ceiling, as well as the tiered Central Provident Fund (CPF) housing grants, will apply to two executive condominium (EC) sites — Pasir Ris Drive 3 / Pasir Ris Rise and Yishun Avenue 7 / Canberra Drive — launched by the Housing & Development Board (HDB).
Meanwhile, potential buyers of current EC projects have requested that the recent income ceiling raise also be made applicable to EC units acquired before mid-August, according to Channel NewsAsia (CNA).
The CNA report said that after the recent announcement, property agency ERA received numerous queries from home buyers interested in EC projects launched before 15 August.
ERA then emailed the relevant authorities to enquire if exceptions can be made.
However, the Ministry of National Development stated that the income ceiling will remain at S$10,000 per month for EC projects launched before the new rule was implemented, to guarantee that the ruling is applied consistently and that buyers are treated fairly.
The government had earlier announced that the income ceiling will be raised from S$10,000 to S$12,000 per month for EC projects launched from 15 August 2011.
The report added that the HDB is studying feedback from potential buyers.
“I really do think that the relevant authority can study the situation again,” said Mark Teo, Senior Group Division Director at ERA.
“Because to allow them to buy, I think it probably doesn’t affect the original buyers,” he said.
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