SINGAPORE - The reason the Government acted on dual-key executive condominium (EC) units is because they are sometimes not used for what they were intended.
Minister for National Development Khaw Boon Wan reiterated this in Parliament on Monday.
Housing agents The New Paper spoke to agreed.
The two-door apartments were originally planned for multi-generational families.
The studio unit, which adjoins the main unit, has its own entrance, kitchen and bathroom.
Elderly parents can live in the studio while the main unit can be occupied by a young couple with kids.
This allows the best of both worlds - grandparents to look after the kids and privacy for both households.
But some home owners bought these units as a form of investment and a way to offset part of their mortgage by renting out the adjoining studio unit, real estate agents said.
The studio can be rented out as it is considered a room in the apartment though it has its own door.
At the most recent EC launch of CityLife@Tampines, such units were sold out within the first two days, said Global Property Strategic Alliance's senior group director Angeline Ang.
A real estate agent who declined to be named said developers had marketed dual-key EC units as investments with good rental yield.