Simei Green, one of the first EC’s in Singapore

Executive Condo housing scheme was introduced to meet the aspiration of higher income earners to own a near private housing in an affordable way if the buyers meet certain eligible criteria. EC developers are able to acquire land thru GLS exercise at a cheaper rate which translates to cheaper land cost to eventually benefitting target buyers.

Recent launches of EC by developers boast of 50m SkyPark view, more Maisonette units & the privacy of individual “Private Lift” These type of luxurious units will only benefit a small number of buyers who could afford by obtaining some financial assistance from their family since the income cap is tagged at not more than $12,000/-(combined). Has the good intention by the government being exploited by developers forgetting that these lands are enjoying Government subsidy.