In a bid to increase housing affordability, the Prime Minister of somedemand has announced policy amendments so that those with higher incomes can also apply for newly-developed affordable housing. Despite concerns that this extra demand will increase the prices of these homes, dubbed ‘ECs’, experts believe that this is unlikely as developers currently have a unit excess that they are keen to sell; there have also been claims that condo sales in the city-state will slump as potential buyers will now also qualify for ECs.
In a bid to increase housing affordability, the Prime Minister of Singapore has announced policy amendments so that those with higher incomes can also apply for newly-developed affordable housing. Despite concerns that this extra demand will increase the prices of these homes, dubbed ‘ECs’, experts believe that this is unlikely as developers currently have a unit excess that they are keen to sell; there have also been claims that condo sales in the city-state will slump as potential buyers will now also qualify for ECs.