Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220114
Title: DISPELLING THE SMOKE AND MIRRORS OF EXECUTIVE CONDOMINIUM HOUSING SCHEME
Authors: CHENG SHI YING CHERISSA
Keywords: Real Estate
RE
Tu Yong
2014/2015 RE
Continued Relevance
Controversies of the Executive Condominium Housing Scheme
Dispelling Controversies of EC Housing Scheme
Executive Condominium
Housing Subsidy
Perceptions on the Current EC Housing Scheme
Privatization Status
Issue Date: 14-May-2015
Citation: CHENG SHI YING CHERISSA (2015-05-14). DISPELLING THE SMOKE AND MIRRORS OF EXECUTIVE CONDOMINIUM HOUSING SCHEME. ScholarBank@NUS Repository.
Abstract: Housing issues have always been an integral part of Singapore’s political arena. Essentially, executive condominiums (ECs) form a quasi-private housing class introduced by the ruling party in anticipation that the mismatch of private housing aspirations and earning power may cause young professionals to leave Singapore to realize their lifestyle desires. New EC units carry ownership and resale restrictions which are lifted once privatization status is attained, allowing units to be priced similarly to comparable private condominiums (PCs) nearby. Moreover, eligible EC homebuyers are offered a housing subsidy in the form of CPF Housing Grant to relieve the down-payment burden. Since the scheme’s nascent stage, several contentious issues mainly revolving around the housing subsidy for middle- to upper-income households, the privatization status and continued relevance of ECs have surfaced. This paper adopts an investigative approach to dispel the smoke and mirrors surrounding this scheme by crafting 5 hypotheses based on these controversies and testing their statistical significance to examine if they still exist in today’s context. Binary logistic regression models were run by including the demographic and housing profiles and perceptions on the current EC Housing Scheme collected from 200 EC and PC owners. The analysis of research findings have indicated that 4 of the controversies are empirically justified today. In light of this, several recommendations are proposed in hopes of addressing these veritable concerns: Raising the HDB income ceiling to cater for the sandwiched class, offering the Grant to eligible purchasers of private property, removal of privatization status of ECs, and greater transparency of regulatory authorities.
URI: https://scholarbank.nus.edu.sg/handle/10635/220114
Appears in Collections:Bachelor's Theses

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