18 Mar '11, 3pm

Property agents' views on proposed changes by URA

Property agents' views on proposed changes by URA

SINGAPORE : Some real estate agents are expecting slower home sales over the short-term, if developers are required to publish property prices two days before they put up their units for sale. This is one of the changes the Urban Redevelopment Authority (URA) wants to bring about to make the property market in Singapore more transparent. Agents said their clients will take their time to compare property prices, lengthening the sale process. Homebuyers currently have to wait until the day of a property's launch to get the exact price for its units. But if a price list is available in advance, it will mean a more streamlined process for both agents and homebuyers. This will separate the serious buyers from the not-so serious ones. On the day of the launch, only those customers who both want to buy a flat and are able to afford it will be left in the market. Mohamed Ismail, c...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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