23 Feb '17, 1pm

New post added at LushHomeMedia - Retail investors more cautious about overseas property deals

Two recent charges against local real estate firms promoting overseas residential investments have put the spotlight back on such risky purchases. A financial penalty was imposed on property agency Square Yards last month after it failed to to provide a written note to an investor telling him about the risks involved in a foreign purchase, according to a media release by the Council for Estate Agencies (CEA) filed on Jan 19. The company was fined S$7,500 and will not be able to sell or promote any overseas property for six months from March of this year. Just in the month prior, CEA announced that a former agent from SQFT Global Properties Singapore was given a S$6,000 penalty when she misrepresented one of the ventures in Auckland, New Zealand. SQFT also had to pay S$10,000 in damages. SQFT declined to be interviewed, while a representative from Square Yards could not be ...

Full article: http://www.lushhomemedia.com/manage_posts/2017/02/23/reta...

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