On 24 Aug 2015, Prime Minister Lee Hsien Loong announced the raising of income ceiling for Executive Condominium (EC) buyers from $12,000 to $14,000. MND and HDB have recognised that incomes have gone up since the ceiling was last reviewed. This also reflects the changes in social behavior, where couples are getting married much later and have surpassed the income ceiling by the time they settle down.
Joint Press Release by HDB and MND: Affordable Homes, Closer Families, Stronger Ties
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