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Thread: Income ceiling raised to S$12,000 for ALL ECs

  1. #1
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    Default Income ceiling raised to S$12,000 for ALL ECs

    those who can buy, mai tu liao....
    those who cant, start clocking the 30mths wait

    Income ceiling raised to S$12,000 for all ECs
    11:09 AM Sep 14, 2011

    SINGAPORE - The Ministry of National Development has announced that with immediate effect, the revised income ceiling of S$12,000 will apply to all Executive Condominiums (ECs), regardless of their launch date.

    In a statement released this morning, the MND said: "On Aug 15, we raised the monthly income ceiling to purchase new ECs from S$10,000 to S$12,000 for EC projects which were launched for public sale from Aug 15.

    "Our intent was to ensure that the income ceiling would be applied consistently within each EC project.

    "We have, however, received many appeals to apply the revised income ceiling of $12,000 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.

    "MND has reviewed the public feedback and agreed that the suggestion was sound. With immediate effect, the revised income ceiling of S$12,000 will apply to all EC projects. At the moment, five EC projects which were launched before Aug 15 still hold about 600 unsold units.

    "Potential EC buyers will benefit from a wider choice."

  2. #2
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    Khaw under pressure from developers ... must give face finally
    Ride at your own risk !!!

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    Quote Originally Posted by taggy
    those who can buy, mai tu liao....
    Are you serious?

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    Quote Originally Posted by p3nboy
    Are you serious?
    I tend to think for home, if eligible, EC seems a better bet than pte, because cheaper.

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    so there will be hot demand for the 600 balance unsold EC units this week?

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    sales figure for PC+EC in Sep should be high.

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    Quote Originally Posted by bargain hunter
    so there will be hot demand for the 600 balance unsold EC units this week?
    I am sure these will be sold out very soon!

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    Quote Originally Posted by buttercarp
    I am sure these will be sold out very soon!
    To those whom qualify and able to go after those 600+ balance EC units... Huat Ah!!! Huat Ah!!! ...

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    Not sure if it is a good time to release relax this rule with the Euros and US crisis. More people may be caught.
    Quote Originally Posted by taggy
    those who can buy, mai tu liao....
    those who cant, start clocking the 30mths wait

    Income ceiling raised to S$12,000 for all ECs
    11:09 AM Sep 14, 2011
    SINGAPORE - The Ministry of National Development has announced that with immediate effect, the revised income ceiling of S$12,000 will apply to all Executive Condominiums (ECs), regardless of their launch date.

    In a statement released this morning, the MND said: "On Aug 15, we raised the monthly income ceiling to purchase new ECs from S$10,000 to S$12,000 for EC projects which were launched for public sale from Aug 15.

    "Our intent was to ensure that the income ceiling would be applied consistently within each EC project.

    "We have, however, received many appeals to apply the revised income ceiling of $12,000 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.

    "MND has reviewed the public feedback and agreed that the suggestion was sound. With immediate effect, the revised income ceiling of S$12,000 will apply to all EC projects. At the moment, five EC projects which were launched before Aug 15 still hold about 600 unsold units.

    "Potential EC buyers will benefit from a wider choice."

  10. #10
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    Quote Originally Posted by DC33_2008
    Not sure if it is a good time to release relax this rule with the Euros and US crisis. More people may be caught.
    The way I see it, these people are going to buy anyway cannot be renting or staying with parents indefinitely.... and they are in the sandwich class, too rich for HDB too poor for Private. If they are going to be caught in the crisis, I think they are better off caught with EC rather than a private condo.

    At today's psf and cost of living, prices for a decent private may still be a bit squeezy for a $12,000 household income.

  11. #11
    xebay11 is offline New Launch Project Specialist
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    Quote Originally Posted by howgozit
    The way I see it, these people are going to buy anyway cannot be renting or staying with parents indefinitely.... and they are in the sandwich class, too rich for HDB too poor for Private. If they are going to be caught in the crisis, I think they are better off caught with EC rather than a private condo.

    At today's psf and cost of living, prices for a decent private may still be a bit squeezy for a $12,000 household income.
    Nope, they can still easily go for HDB resale flats comfortably. It's all about living up to the Jones' for these "neither here, nor there" crowd.

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    So when will govt review and amend the CM introduced in Jan? Is there even that hope that things will change?

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    it is going to affect 2br asking for 8XXk in OCR ... some will go for EC at less than 700k
    Ride at your own risk !!!

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    Can get 3 bedder EC at 700k?
    Quote Originally Posted by phantom_opera
    it is going to affect 2br asking for 8XXk in OCR ... some will go for EC at less than 700k

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    One very impt question, combined income 12K per month include bonus? Or just monthly income?

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    Quote Originally Posted by DC33_2008
    Can get 3 bedder EC at 700k?
    3br about 750k for 1,055 sqft, still cheaper than OCR 2br private, of course the 30k grant could help here

    http://www.propertyguru.com.sg/listi...rc-at-tampines
    Ride at your own risk !!!

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    There will be competitiion.
    Quote Originally Posted by phantom_opera
    3br about 750k for 1,055 sqft, still cheaper than OCR 2br private, of course the 30k grant could help here

    http://www.propertyguru.com.sg/listi...rc-at-tampines

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    Quote Originally Posted by Montaigne
    One very impt question, combined income 12K per month include bonus? Or just monthly income?
    Exclude bonus

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    Quote Originally Posted by phantom_opera
    3br about 750k for 1,055 sqft, still cheaper than OCR 2br private, of course the 30k grant could help here

    http://www.propertyguru.com.sg/listi...rc-at-tampines
    Govt see ATT 2rm sell too well, so come out with this indirect cm?

  20. #20
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    All ec are lease hold and location usually not too gd.
    My logic is simple, hdb or fh, depending on income,...
    But for sandwiched class, ec the best.

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    Would you buy 915sqft 2br above 800k @ ATT Punggol or Arc Tampines 3br 750k 1,055sqft if your family earns 10-12k per month? Perhaps the 30k grant will sway your decision?

    Location of Arc Tampines not bad, Qurry Park view vs Punggol Longkang view How about reservoir view, is this going to be much higher than Tamasek Poly?

    Last edited by phantom_opera; 14-09-11 at 18:46.
    Ride at your own risk !!!

  22. #22
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    If this removes tthe unsold supply of ECs in the market, it give the developers the perception that they can price the next EC launch higher.

  23. #23
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    Quote Originally Posted by phantom_opera
    Would you buy 915sqft 2br above 800k @ ATT Punggol or Arc Tampines 3br 750k 1,055sqft if your family earns 10-12k per month? Perhaps the 30k grant will sway your decision?

    Location of Arc Tampines not bad, Qurry Park view vs Punggol Longkang view How about reservoir view, is this going to be much higher than Tamasek [/IMG]
    30k grant is very attractive and certainly key to decision making...

  24. #24
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    tomorrow we shall see what it was like in aug first. then add another 1000 units in total to that number to get sep sales? LOL.


    Quote Originally Posted by maisonjai
    sales figure for PC+EC in Sep should be high.

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    Quote Originally Posted by DC33_2008
    Can get 3 bedder EC at 700k?
    I remembered 3 bedder EC at pasir ris (belysa) starts at 560k.. Minus 30k grant become 530k.. Cheaper than most 1 bedder pte condo..

  26. #26
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    Quote Originally Posted by phantom_opera
    Would you buy 915sqft 2br above 800k @ ATT Punggol or Arc Tampines 3br 750k 1,055sqft if your family earns 10-12k per month? Perhaps the 30k grant will sway your decision?

    Location of Arc Tampines not bad, Qurry Park view vs Punggol Longkang view How about reservoir view, is this going to be much higher than Tamasek Poly?
    Arc has no view. Blocked by Waterview which will be up before Arc's completed.

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    Quote Originally Posted by Worsty
    Arc has no view. Blocked by Waterview which will be up before Arc's completed.
    Higher ones got reservoir views towards Temasek Poly..

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    Quote Originally Posted by linchong84
    I remembered 3 bedder EC at pasir ris (belysa) starts at 560k.. Minus 30k grant become 530k.. Cheaper than most 1 bedder pte condo..
    Cheaper than a 5 bedroom HDB is most parts of the island! Hmmm...

  29. #29
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    Quote Originally Posted by ysyap
    Cheaper than a 5 bedroom HDB is most parts of the island! Hmmm...
    Is it pragmatic or populist?

  30. #30
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    Quote Originally Posted by ysyap
    Cheaper than a 5 bedroom HDB is most parts of the island! Hmmm...
    comes with security guard, swimming pool and tennis court and a fenced up perimeter...

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