Govt will not build any more executive maisonettes
The Government will not be building any more executive maisonettes (EMs), the Ministry of National Development said on Tuesday. This is because it believes that its executive condominium scheme, launched in 1995, is "better-placed to meet the diverse needs of Singaporeans."
EMs in certain neighbourhoods have become highly sought after on the resale market.
Of the eight flats which went for over $900,000 this year, four of them are EMs, including a Bishan Street 12 unit that sold for $970,000. This included a record-breaking $250,000 in cash-over-valuation (COV).
In the written reply to a parliamentary question from Pasir Ris-Punggol GRC MP Gan Thiam Poh, who asked if the ministry would reconsider building more such units, MND said that executive condominiums come in a broader range of sizes, including duplexes that are similar to EMs. Executive condo units range from 69 to 324 sq m.
They also have more unique design features and are sold with initial eligibility and ownership restrictions to help keep prices affordable, it said.
Executive condos become private property with no restrictions on their sale after 10 years - this meets the private housing aspirations of Singaporeans, it added.
"As the EC is better-placed to meet the diverse needs of Singaporeans, there is no need to re-introduce EMs."