More than 11,000 families bought EC units over three-year period

Prospective buyers viewing a model of CityLife@Tampines, a 514-unit executive condominium (EC), at the showflat. More than 11,000 Singaporean families bought Executive Condominiums (ECs) from the fourth quarter of 2010 to the same period in 2013
Prospective buyers viewing a model of CityLife@Tampines, a 514-unit executive condominium (EC), at the showflat. More than 11,000 Singaporean families bought Executive Condominiums (ECs) from the fourth quarter of 2010 to the same period in 2013. -- ST FILE PHOTO: CHEW SENG KIM

More than 11,000 Singaporean families bought Executive Condominiums (ECs) from the fourth quarter of 2010 to the same period in 2013.

HDB dwellers made up 86 per cent of the buyers, and more than half, or 55 per cent, were second-timer households. Of the families, 80 per cent earned $10,000 or below, and 83 per cent spent below $1 million on their purchase. Non-university graduates accounted for 42 per cent of the buyers, while 40 per cent of them were aged 34 years and below.

These figures were given by Minister for National Development Khaw Boon Wan in a blog post on Thursday.

Mr Khaw also noted that income ceiling adjustments in 2011 led to a shift in the profile of EC buyers over a one-year period. The proportion of second-timers rose from 43 per cent to 57 per cent, while those aged between 35 and 44 increased from 35 per cent to 43 per cent.

"I am glad that the EC scheme is helping Singaporeans from diverse backgrounds meet their aspirations for private housing," wrote Mr Khaw, noting that the take-up for EC has been high. "I will continue to make sure that the EC scheme stays on track, to serve the housing needs of Singaporeans."