National Development Minister Khaw Boon Wan has asked the Urban Redevelopment Authority (URA) to review and fix the policy allowing developers to sell off free spaces to make additional profit for themselves.
Mr Khaw said the developers explained that such super EC units were a minority, and that they were snapped up by buyers who could actually afford private properties as they had priced them low.
He was referring to CityLife@Tampines, which made the news for a penthouse unit with a record price tag of $2.05 million.
Mr Khaw said under URA rules, it's "not improper" for developers to sell off free spaces to make additional profit. Full story
Related:
