CEA published Online guide to buying foreign ppty (ST18.3)

[chialc88]

Online guide to buying foreign ppty (ST18.3)

1. Online consumer guide
- rules on foreign ownership
- taxes
- avenues to resolve disputes
- potential pitfalls (guaranteed high returns, promises of discounts or freebies)

2. Practice guidelines on marketing overseas property
- for real estate agents
- agents responsibilities

Love Compassion


A Life not Reflected is a Life not Worth Living.

[xis]

Hi chialc88,

I know you are a property agent. But kindly note value investing is not all about properties which you seem to be promoting. Your articles don't promote any value to us when property market is at this level. Appreciate if you can tone down on your posting. Thanks!

[chialc88]

Dear xis,
Yes, I'm a property agent but this article does not promote properties.
It's a cautions given by Minister KBW and CEA this week. And yes, I aimed to Impacting life beyond finance, too.

SINGAPORE: The Council for Estate Agencies (CEA) has published an online consumer guide on foreign properties at its website.

It said the guide will help consumers make informed decisions when buying foreign properties.

In a statement on Monday, CEA noted that an increasing number of foreign properties is being marketed in Singapore.

It said as buying a foreign property can be complex and risky, consumers should understand their needs and not rush into such purchases.

Before making any purchase decision, they should also understand the total costs and financial commitments, and ensure that the sales agent and representative conducting the transaction are registered with CEA.

CEA also issued a set of guidelines for estate agents in the marketing of foreign properties, which is also available at its website.
- CNA/nd

Love Compassion

[kopihothot]

consumer tips
buying foreign properties

The link - http://www.cea.gov.sg/cea/content/binary...erties.pdf

[Londonproperty]

The guide is quite commonsensical, something like a check list of what you need to look at and be aware of. I guess the guide is useful in raising awareness of the issues you need to know of, as other countries may be very different from Singapore.

[chialc88]

MAS sounds warning on foreign property risks - ST 21.5.2014

Singaporean poured $2b into foreign property last year, a rise of 43%

1. challenges dealing with unfamiliar market
2. changing demand and supply
3. significant different laws and regulation compare to SGP
4.safeguards
5. exchange and interest risk



Live with Passion, Lead with Compassion

[chialc88]

Unlicensed property agent faces charges - ST 22.5.14

Tan Yang Po, 50, Singaporean, own a business called APC Azea Personal Coaching.

CEA:"This is the first prosecution case related to unlicensed estate agency work for the sale of foreign properties."

Scheme:
1. Set up a company
2. advertise and invite public for free seminar
3. encourage attendees to enroll in paid 2-day course
4. course participant is given property club membership
5. introduce foreign developer, Sterling Camden to club member
6. collect commission for each unit sold
   


Live with Passion, Lead with Compassion