therat 18 Report post Posted March 16, 2011 http://www.channelnewsasia.com/stories/sin...1116839/1/.html URA proposes property regulatory changes By Ryan Huang | Posted: 16 March 2011 1405 hrs Prospective home buyers at a condominium showflat Photos 1 of 1 Prospective home buyers at a condominium showflat Related News • URA to end use of misleading showflats SINGAPORE: Seven key regulatory changes to the property sector have been proposed by the Urban Redevelopment Authority (URA) to make the industry more transparent and raise protection for property buyers. This follows last week's announcement in Parliament by Minister for National Development Mah Bow Tan, that moves would be taken to enhance the Housing Developers (Control & Licensing) Act (HDCLA) and the Housing Developers Rules (HDR). This was to give property buyers better access to accurate and timely information about the market and units that they plan to buy. The new changes being proposed include the need for showflats to depict actual units accurately. This means the floor area of the showflat must be the same as the actual unit, and all external and structural walls must be erected. Also, among the proposals is the requirement for developers to provide more mandatory information. This includes the estimated land area for a property, a drawn-to-scale location plan, and specifications such as the type of finishing. The URA said this would help property buyers make more informed decisions. Developers will also be required to make available the price list of units at least two days before a project is launched for sale. Other information that will be necessary for developers to provide is their track record, with details on at least one completed project. New developers who have not completed any project will have to indicate their lack of track record. These changes were worked out in consultation with the Real Estate Developers Association of Singapore (REDAS). Mr Wong Heang Fine, president of REDAS, said: "REDAS supports the government's efforts to take steps to help purchasers make more informed decisions. "As a body representative of a large community of property developers, REDAS is committed to continually promote good practices and professionalism among developers to deliver better and higher quality homes for all". The proposals are open for public feedback from Thursday until April 18, 2011 on the URA website. The final changes to the HDCLA and HDR will take effect by the third quarter of this year. -CNA/wk Share this post Link to post Share on other sites
january 0 Report post Posted March 16, 2011 Some developers erect all the walls in show units... using glass. Which is misleading too. Share this post Link to post Share on other sites
therat 18 Report post Posted March 17, 2011 Some developers erect all the walls in show units... using glass. Which is misleading too. Some developers 1. removing the bomb shelter door and convert it to WIW. 2. extend and level the living hall all the way to the balconies and bay windows. Share this post Link to post Share on other sites
bepgof 20 Report post Posted March 17, 2011 (edited) Anyone can enlight as the watchers say the changes will reduce the transaction number of those shoebox units? Edited March 17, 2011 by bepgof Share this post Link to post Share on other sites
marshmallow 0 Report post Posted March 17, 2011 Anyone can enlight as the watchers say the changes will reduce the transaction number of those shoebox units? hubby watched on tv last nite, that's what i heard from him... New rules try to ensure that shoe box units do not look bigger than they actually are. SGreans, being used to relatively large flats/apartments, may find the visually misleading show flats acceptable, but if they see the a more realistic depiction of these shoe-box units, many may drop the idea of buying one. Share this post Link to post Share on other sites
