18 Sep '16, 9am

URA private-home price index to include sales of delicensed residential projects

THE Urban Redevelopment Authority (URA) will include sale transactions of delicensed residential projects in the computation of its quarterly private-home price index. Real Estate Developers Association of Singapore (Redas) president Augustine Tan announced this at the association's mid-autumn festival lunch on Wednesday. "I am pleased to note that through dialogue with Redas, URA will include sale transactions of delicensed projects in its property price index to improve transparency in the property market," Mr Tan said. URA has begun collating such information. A housing project may be delicensed if it has received Certificate of Statutory Completion, and where the individual strata titles have been issued to buyers. Currently, developers of licensed projects submit weekly sales data to URA showing discounts and other incentives to reflect the net sale price. However, a ...

Full article: http://www.srx.com.sg/singapore-property-news/23672/ura-p...

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