22 Jun '16, 8am

Authorities remind EC developers of buying schemes #SingaporeProperty #RealEstate #PropertyNews

THE authorities have weighed in on the issue of e-applications for executive condominiums (ECs), saying that developers of ECs are not allowed to offer incentives to buyers who have not booked units. Developers are also required to engage independent auditors to audit their sale processes to ensure they fulfil their obligations. A spokeswoman for the Housing & Development Board (HDB) said: "The Ministry of National Development (MND) and the HDB take a serious view of any malpractice by developers. Any feedback on malpractice by EC developers or their marketing agents is fully investigated. The authorities will not hesitate to take action against errant parties." HDB added that while EC developers may decide on the mode of sale and engage marketing agents to handle the process, they must comply with the Conditions of Tender and the Building Agreement to conduct the sale of ...

Full article: http://www.srx.com.sg/singapore-property-news/20572/autho...

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