25 Apr '14, 7am

And yet EC does not have extended family scheme to allow total family income up to $15k to support 3 generation...

More than 11,000 Singaporean families purchased executive condominiums (ECs) from Q4 2010 to the same period last year, according to National Development Minister Khaw Boon Wan. In a blog post, he said that HDB dwellers accounted for 86 percent of such buyers, while 55 percent bought an EC for the second time. Of the total figure, 80 percent earned up to $10,000 and 83 percent spent less than $1 million on their unit. Non-university graduates made up 42 percent of buyers, while 60 percent were at least 35 years old. Moreover, when the income ceiling for the EC Housing Scheme was raised to $12,000 in 2011, the profile of buyers changed over a one-year period. The proportion of second-timers increased from 43 percent to 57 percent, while those aged between 35 and 44 rose from 35 percent to 43 percent. Mr Khaw explained that the EC scheme is designed to help Singaporeans acqu...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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