Singapore Property News This Week #86

Residential

Guidelines on private enclosed space to be reviewed

Following recent reports of super-sized EC units being sold to buyers not from the sandwiched class the ECs are meant to cater to, URA had been directed review guidelines on private roof terraces and private enclosed space on ground floors. These spaces which are open to the sky are not considered part of the GFA has no development charges to encourage developers to build more private or communal open spaces for residents to enjoy. They are the reason why penthouses units can be sold at much lower psf prices than smaller typical units since the entire space of the unit (including the open space) is included in the pricing. The resulting high price of the units may not be affordable for the class ECs are targeting and buyers who can afford these units may not even need the subsidies. Furthermore, as …