reporter2
18-10-12, 12:58
http://www.straitstimes.com/archive/wednesday/premium/singapore/story/no-plans-more-executive-maisonettes-20121017
No plans for more executive maisonettes
Published on Oct 17, 2012
By Rachel Chang
THE Government will not build any more executive maisonettes, the Ministry of National Development (MND) said yesterday of these rare HDB units, a few of which have sold for close to a million dollars each on the resale market.
In a written parliamentary reply, the MND explained that the executive condominium (EC) scheme "is better-placed to meet the diverse needs of Singaporeans".
Executive maisonettes, two-storey flats that range in size from 138 sq m to 243 sq m, are highly sought after in certain neighbourhoods.
Of the eight flats sold for more than $900,000 this year, four were executive maisonettes - including a Bishan Street 12 unit that went for $970,000, a price that included a record-breaking $250,000 in cash over valuation.
The MND was replying to Mr Gan Thiam Poh (Pasir Ris-Punggol GRC) on whether the Housing Board would consider building executive maisonettes again.
The HDB stopped building them in 1995, when the EC scheme was launched.
The MND said the ECs provide a broader range of flats, including duplex-style units similar to executive maisonettes, to cater to Singaporeans' diverse housing preferences. The flat sizes cover a wider range, from 69 sq m to 324 sq m.
EC units are also sold with initial eligibility and ownership restrictions to help keep their prices affordable, added the MND.
ECs become private property, with no restrictions, after 10 years, "thus meeting the private housing aspirations of Singaporeans", said the ministry.
Thus, it sees no need to re-introduce executive maisonettes.
[email protected]
No plans for more executive maisonettes
Published on Oct 17, 2012
By Rachel Chang
THE Government will not build any more executive maisonettes, the Ministry of National Development (MND) said yesterday of these rare HDB units, a few of which have sold for close to a million dollars each on the resale market.
In a written parliamentary reply, the MND explained that the executive condominium (EC) scheme "is better-placed to meet the diverse needs of Singaporeans".
Executive maisonettes, two-storey flats that range in size from 138 sq m to 243 sq m, are highly sought after in certain neighbourhoods.
Of the eight flats sold for more than $900,000 this year, four were executive maisonettes - including a Bishan Street 12 unit that went for $970,000, a price that included a record-breaking $250,000 in cash over valuation.
The MND was replying to Mr Gan Thiam Poh (Pasir Ris-Punggol GRC) on whether the Housing Board would consider building executive maisonettes again.
The HDB stopped building them in 1995, when the EC scheme was launched.
The MND said the ECs provide a broader range of flats, including duplex-style units similar to executive maisonettes, to cater to Singaporeans' diverse housing preferences. The flat sizes cover a wider range, from 69 sq m to 324 sq m.
EC units are also sold with initial eligibility and ownership restrictions to help keep their prices affordable, added the MND.
ECs become private property, with no restrictions, after 10 years, "thus meeting the private housing aspirations of Singaporeans", said the ministry.
Thus, it sees no need to re-introduce executive maisonettes.
[email protected]