The upbeat real property market in the country has led to an upsurge of real estate-related problems and complaints from home hunters.
According to the Consumers Association of Singapore (Case), the various complaints it had received began to pour in from the month of May.
The association has already received a total of 619 complaints during the first eight months of this year, in which 89 cases in July and 107 cases in August were lodged in.
Seah Seng Choon, executive director of Case, said that the large number of complaints is in relation to the HDB flat transactions.
The Singapore Accredited Estate Agencies (SAEA) also stated that it had received 141 inquiries, complaints, and feedback last July and August, which is above than what it usually gets in one year. SAEA only receives 26 cases during the first six months of this year.
Tan Tee Khoon, chief executive of SAEA, stated that during this month’s first couple of weeks, another 6 complaints is poured in at the agency. About 40 percent of the said 141 cases compose of disputes on the payment of commissions, complaints against some property agents, and more other property-related issues.
He also said that the cases include recommendations from Inland Revenue Authority of Singapore or from the Housing and Development Board (HDB) as well as from the Meet-the-People sessions of the Members of Parliament.
However, the Institute of Estate Agents, another body that grieved with real estate customers said that it hasn’t seen any latest increase in the number of complaints against all its members.
According to Dr. Tan, complaints overlaps oftentimes occur as consumers sometimes give their complaints to these three concerned bodies. In some cases, which involve property agents’ behaviours, SAEA stated that it would have difficulty in resolving disputes concerning a property agent who is not a SAEA-accredited and who refuses his cooperation.
Bosses of property agency have said that compulsory accreditation from these bodies is the most important thing necessary to the industry, which contains a low-entry barriers. They hope that the review of the government of the regulatory framework for all real estate agents, which was announced in the previous month, will be able to raise standards in the property business.