Income Exceed $14,000?

Combined Household Income Exceed $14,000?

On 15th Aug 2011, the average gross monthly household income was raised from $10,000 to $12,000.

On 23rd Aug 2015, the average gross monthly household income was raised from $12,000 to $14,000.

We still received feedback from buyers who have exceeded the $14,000 income ceiling marginally and still keen to get an EC unit. They find that the cash up front to buy a private development and extra additional buyer stamp duty (ABSD) they need to come out is a lot.

If your household income exceeds $14,000 and still keen to get an EC unit. Give us a call or drop us a message now. We will get back to you on how to proceed.

 

More choices for Executive Condominium buyers

1. On 23 Aug 2015, we raised the monthly income ceiling to purchase new Executive Condominiums (ECs) from $12,000 to $14,000, for EC projects which were launched for public sale from 23 Aug 2015. Our intent was to ensure that the income ceiling would be applied consistently within each EC project.

2. We have, however, received many appeals to apply the revised income ceiling of $14,000 to all EC projects, regardless of their launch date for public sale. If approved, this will enable homebuyers to enjoy a wider selection of EC units across projects and locations.

3. MND has reviewed the public feedback and agreed that the suggestion was sound. With immediate effect, the revised income ceiling of $14,000 will apply to all EC projects.

Issued by: Ministry of National Development

 

 

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