Thursday, December 1, 2011

Action will be taken against errant agents and developers

Straits Times: Thu, Dec 01
THE Council for Estate Agencies (CEA) and the Urban Redevelopment Authority (URA) share Mr David Lim's concerns about misleading sales practices ('Check misleading property sales ploys'; last Thursday).


We do not condone tactics by developers or estate agents to hype up market sentiments with a view to misleading home buyers, and will conduct investigations to follow up on feedback on such practices. Enforcement actions will be taken against developers or estate agents found violating established regulations, such as the Code of Ethics and Professional Client Care.


The URA also makes available different real estate information to help home buyers make informed decisions. For instance, information on the number of units launched and sold for individual private residential projects are currently updated monthly on the URA's website (www.ura.gov.sg). Next year, this information will be made available weekly. The URA actively ensures that the information reported is accurate. When we come across any misleading reports or claims by developers on sale figures, it is our practice to request a correction or clarification on the information.


We thank the writer for his feedback and assure him that the URA monitors the property market closely to ensure that private residential units are sold by developers in a fair and transparent manner.


Purnima Shantilal (Ms)


Director (Licensing and Investigation)


Council for Estate Agencies






Sin Lye Chong


Controller of Housing


Urban Redevelopment Authority

Source: The Straits Times © Singapore Press Holdings Ltd

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Martin Koh/ Sherry Tang
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