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Real Estate Realities by Ku Swee Yong

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2.

Are ECs still relevant?

 

18 January 2013, TODAY

As public debate raged over the irony of Executive Condominiums (ECs) costing more than $1.5 million being snapped up by buyers supposedly from the sandwiched, middle-income class, Minister for National Development Khaw Boon Wan weighed in on the matter on 7 January 2013 in a blog posting titled “Who gets short-changed?”

Although the post started out by addressing oversized ECs and their prices, the minister quickly went on to the broader issue of how developers allocated non-Gross Floor Area (non-GFA) space between sellable strata areas and common areas. He ended the post saying that the Urban Redevelopment Authority (URA) has been tasked to “review this policy and have it fixed.” I guess ...

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