New EC Launch: Second-Time Buyers Get More EC Chances
This 'Second-Time Buyers Get More EC Chances' post is a news update for you.
In brief, National Development Minister Khaw Boon Wan announced plans to change the balloting ratio for second time buyers of EC (executive condominium) units on 2 March 2012 during debate in Parliament.
Second time buyers of new EC properties will get 30 percent of units in a new Executive Condominium instead of the current 5 percent limit now.
The statement from HDB site:
"Allocation of ECs to increase 6-fold from 5% to 30%
HDB will also increase the second-timer allocation of new EC units in a project from 5% to 30%, to match the prevailing profile of EC applicants. This allocation applies during the first month of public sales launch for EC projects.
We will apply the revised allocation with immediate effect to all EC projects, including those which are currently within their first month of public sales launch and those pending public sales launch. "
This EC news update is meant for personal use.
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