Feb 27, 2009 - PropertyGuru.com.sg
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Punggol residents have become the targets of touts in recent days. Many residents said they were approached by several contractors looking to perform renovations at their homes.

Verifying with these contractors showed they chose such approach due to bad economic condition.

According to Singapore Renovation, Contractors and Materials Suppliers Association, the renovation sector is undergoing hard times. Many contractors also said new house owners are delaying their plans to renovate, and those who are implementing their renovation plans are asking for a lower price. Customers who default their payments have also increased in recent months.

On top of this, HDB’s Build-to-Order scheme, which offers premium or standard finishes to units, are reducing the needs for contractors.

“Many of our members say they haven’t had any jobs since the start of 2009. If the situation continues, nearly half the contractors in Singapore might close down,” said the Association’s honorary advisor Lim Ah Bah.

Under the Registered Renovation Contractors’ Scheme of HDB, legitimate contractors are not allowed to solicit for business in all HDB estates and those who will be found guilty on such violation will be fined S$500.
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