14 Sep '11, 4am

New $12,000 income ceiling to apply to all Executive Condominiums with immediate effect

New $12,000 income ceiling to apply to all Executive Condominiums with immediate effect

The Ministry of National Development announced on Wednesday that with immediate effect, the revised income ceiling of $12,000 will apply to all Executive Condominiums, regardless of their launch date for public sale. -- ST PHOTO: CHEW SENG KIM By Lin Wenjian The Ministry of National Development announced on Wednesday that the revised monthly income ceiling for potential buyers of executive condominiums will apply to all EC projects available for public sale now. Previously, the revised income of $12,000 - up from $10,000 - applied only to projects that were launched for sale from August 15. MND said in a statement that the change came about after it received many appeals to apply the new income ceiling to all EC projects, regardless of their launch dates, to give buyers a wider choice of units. It said that after reviewing the feedback, it agreed that the suggestion was so...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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