03 Mar '12, 12pm

Home buyers flock to EC showrooms following revised quota

SINGAPORE: Home hunters flocked to showrooms on Saturday now that they have a better chance to own an executive condominiums (ECs). This comes after National Development Minister Khaw Boon Wan announced in Parliament that more ECs will be allocated to second-time home applicants. Several second-time buyers turned up on Saturday at various executive condominium showrooms, hoping to upgrade from their HDB flats to an EC. This comes after the government revised the quota of ECs for second-timers to increase six-fold - from five per cent to 30 per cent. And developers are quick to respond to the increase in demand. Punggol EC project Twin Waterfalls, which previously sold more than one-third of its 728 units, is putting up an additional 182 units for sale for second-timers. Over at Tampines, the Trilliant executive condominium has opened up 168 more units for second-timers. Ma...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...


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