Safeguards needed against developers over ECs
IT IS unacceptable that there are no safeguards against developers of executive condominiums (ECs) using the subsidised housing scheme to build big penthouses ("$2m Tampines EC penthouse sold in two hours"; yesterday).
ECs are meant to be an intermediate option to private housing, but it seems nothing can be done to prevent their purchase by those who get help from their parents.
It was reported that the $2.05 million penthouse at CityLife@Tampines was bought in the name of a man in his 20s, with help from his businessman father, who already owns several other private properties.
This is unfair as ECs are subsidised housing.
Is it possible to have in place qualifying criteria to prevent such instances, such as ensuring funds are from the buyers themselves for EC purchases?