New income ceiling for executive condo applies to all

The revised S$12,000 income ceiling for executive condominiums (EC) will also apply to five projects launched before August 15 this year.

The Ministry of National Development said it made this change following public feedback to apply the new ceiling to projects launched before August 15, the date the new ceiling was announced for EC projects.

MND said it found the feedback sound as it will enable home buyers to enjoy a wider selection of EC units across projects and locations.

The five EC projects launched before August 15 this year still hold about 600 unsold units.

Source : Channel NewsAsia – 14 Sep 2011

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