Singapore’s Urban Redevelopment Authority (URA) have finally made official, a round of changes to the Housing Developers Rules. Details directly from URA here.

  1. Mandatory information to intending home-buyers
  2. Track record of developers
  3. Home-buyers’ consent for changes to a housing unit
  4. Extend controls on advertisements to those on websites

URA_Change_of_Dev_RulesThe gist of it is to increase transparency and information for buyers of property here.

We, and many others, have argued that this is something necessary for the market. Our stand on the consumers’ right to all the data and numbers is clear. In our previous article on Singapore property buyers, we stated buyers need to be more informed and critical when making such a substantial investment. While we believe that consumers must educate and arm themselves with the right knowledge, there is another side to that coin. Developers must also be motivated to provide such information, and these changes are a good start.

But there is still much to be done yet if we want a more property-savvy Singaporean!

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