The Urban Redevelopment Authority (URA) is working on new rules to give home buyers more confidence when acquiring units, while ensuring that developers are more transparent, according to a report in The Straits Times.
The regulations cover several different aspects of home buying, from showflat dimensions to misleading advertisements and the problem of pressure selling. The report said showflats will need to have the same floor area and floor-to-ceiling height to accurately depict actual units, while signs must be provided to mark positions of removed walls, partitions or doors.
It added that “the floor area of rooms in a new unit, from balconies to bedrooms and the dining area, will also have to be accurately outlined.”
Developers will also have to provide the price list for units to be released at least two days before the first option to purchase is issued.
The URA will post the list of developers who violate the new rules on its website, with license suspension being the maximum penalty for those who consistently flout the rules.
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