News Flash: New EC Rulings introduce on 9 Dec 2013

There are 3 parts to this new cooling measures.
I. Reduce EC Cancellation Fees
II. Resale Levy for Second-Timer Applicants
(Second-timers who apply for new EC projects where the land sale is launched on or after 9 Dec 2013, including those where tenders have not closed will have to pay a resale levy. The resale levy will not apply to EC projects which are launched from the Prive to Punggol Central /Edgedale Plains, Punggol Drive /Edgedale Plains and Yuan Ching Road / Tao Ching Road.)

III. Revision of Mortgage Loan Terms
(This  applies to Option to Purchase which is granted on or after 10 Dec 2013)

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[Source: Channel News Asia 13/12/2013]