Sunday, October 21, 2012

Govt won't build more executive maisonettes

Amid the recent buzz over record deals for executive maisonettes (EMs), the government is unlikely to build any more of these homes, said National Development Minister Khaw Boon Wan.

In a written response to Parliament, he explained that EMs are no longer necessary as the present scheme on executive condominiums (ECs) provides “a wider range of flats to cater to Singaporeans’ diverse preferences”.

“While EMs ranged from 138 sq m to 243 sq m, ECs have unit sizes ranging from 69 sq m to 324 sq m. ECs also typically come with more unique design features than EMs, including duplexes for those looking for two-storey units similar to EMs,” said Mr Khaw.

The Housing and Development Board (HDB) stopped building EMs in 1995 when the EC scheme was introduced.

New EC units are sold with initial ownership and eligibility restrictions to help keep housing prices affordable. The government also provides housing grants to first-timer citizen families looking to purchase ECs.

In addition, ECs become an unrestricted private property after 10 years, meeting the private housing aspirations of Singaporeans, said Mr Khaw.

View the original article here

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