# Fostering a More Transparent Property Market - **Source:** Ministry of National Development - **Published:** 2015-05-18T06:00:00.000Z - **Author:** Ministry of National Development - **Original:** https://www.mnd.gov.sg/newsroom/press-releases/view/fostering-a-more-transparent-property-market - **Topics:** Private Residential, Government & Policy, Transactions & Deals ## Featured rationale More timely pricing data and clearer sales materials could improve buyer comparisons, constrain opaque incentives and strengthen transparency in the uncompleted private-home market. ## AI summary From May 2015, developers must report unit transactions weekly, while new rules require disclosed buyer benefits and accurately represented show units. ## Original article Amendments to the Housing Developers (Control and Licensing) Act and subsidiary legislation will be implemented from May 2015 to improve safeguards and provide more information to prospective purchasers of private residential properties. In April 2013, Parliament approved amendments to the Housing Developers (Control and Licensing) Act to improve and update legislative safeguards for buyers of uncompleted private residential properties. The amendments will enhance market transparency by providing the public with more comprehensive and timelier information on the private residential property market. Since then, the Ministry of National Development (MND) has worked on the subsidiary legislation, the Housing Developers Rules, to effect these policy changes. The effort includes the implementation of a new set of rules on show units, the Housing Developers (Show Unit) Rules. The legislative amendments, which were finalised through a series of consultations with members of the public and industry stakeholders, are now ready to take effect. The amendments will enable prospective home buyers to make better-informed purchasing decisions. Weekly collection and publication of transaction data From 25 May 2015, housing developers must submit detailed transaction information to the Controller of Housing every week. This information will include sales volumes and transacted prices of individual units in their building projects, and the value of any benefits extended to buyers. Developers will be required to submit this information to the Controller within five days of the end of each preceding week. This information will be published on the Urban Redevelopment Authority (URA) website weekly from 5 June 2015. More comprehensive information in transaction documents The Option to Purchase and Sale & Purchase Agreement, which are standard forms prescribed under the Housing Developers Rules, will also be amended to enhance the safeguards for purchasers of private residential properties. For example, developers must indicate the value of any benefits* offered to buyers. The amendments to both forms will take effect on 20 July 2015. This is to provide developers sufficient time to comply with the amendments. Ensuring the accuracy of show units MND is introducing the Housing Developers (Show Unit) Rules to ensure that all show units provided by developers are accurate depictions of housing units offered for sale. For example, one rule requires the floor area of the show unit to be the same as that of the actual housing unit. Another rule requires all external and structural walls to be built in the actual unit to be depicted in the show unit. These Rules will take effect on 20 July 2015 to provide developers sufficient time to comply with the new requirements. See Annex A for details. * Examples of benefits commonly offered or given by developers are cash rebates, absorption of legal fees or stamp fees, rental guarantees and furniture vouchers. ## Chinese translation > Translation model: grok_cli ### 促进更透明的房地产市场 《住房发展商（管制与执照）法令》及其附属法例的修订将自2015年5月起实施，以加强保障措施，并为有意购买私人住宅物业的买家提供更多信息。 2013年4月，国会通过了对《住房发展商（管制与执照）法令》的修订，以完善并更新对未建成私人住宅物业买家的立法保障。有关修订将通过向公众提供更全面、更及时的私人住宅物业市场信息，提高市场透明度。 此后，国家发展部（MND）着手制定附属法例《住房发展商规则》，以落实这些政策变化。相关工作包括实施一套关于示范单位的新规则，即《住房发展商（示范单位）规则》。 经与公众及业界持份者一系列咨询后最终定稿的立法修订现已准备生效。这些修订将使有意购屋者能够作出更明智的购买决定。 每周收集并公布交易数据 自2015年5月25日起，住房发展商必须每周向房屋管制官提交详细交易信息。这些信息将包括其建筑项目中个别单位的销售量与成交价，以及向买家提供的任何优惠的价值。 发展商须在每一前一周结束后五天内向房屋管制官提交这些信息。相关信息将自2015年6月5日起每周在市区重建局（URA）网站公布。 交易文件中提供更全面的信息 《购房期权》与《买卖协议》这两份根据《住房发展商规则》订明的标准表格，亦将修订，以加强对私人住宅物业买家的保障。例如，发展商必须注明向买家提供的任何优惠*的价值。 两份表格的修订将于2015年7月20日生效，以便发展商有充足时间遵守修订规定。 确保示范单位的准确性 国家发展部正推出《住房发展商（示范单位）规则》，以确保发展商提供的所有示范单位准确反映拟出售房屋单位的情况。 例如，其中一项规则要求示范单位的楼面面积须与实际房屋单位相同。另一项规则要求实际单位中将建造的所有外墙与结构墙，均须在示范单位中予以呈现。 这些规则将于2015年7月20日生效，以便发展商有充足时间遵守新规定。详情见附件A。 *发展商通常提供或给予的优惠例子包括现金回扣、代付律师费或印花税、租金保证及家具礼券。