Written Answer by Ministry of National Development on EC purchase
Jul 13, 2015
Er Dr Lee Bee Wah: To ask the Minister for National Development
(a) what is the current availability of unsold executive condominiums (ECs);
(b) whether the Ministry will consider raising the income ceiling for first-time buyers who are newly-weds to help this sandwiched group of buyers for ECs; and
(c) what is the average waiting time for new applicants of ECs.
Answer:
About 2,230 Executive Condominium (EC) units are currently unsold. EC applicants have to wait about 3 years on average, from the time of the sales launch to the issuance of the Temporary Occupation Permit.
We last raised the income ceiling for ECs in 2011 from $10,000 to $12,000. We are in the process of reviewing the income ceiling.