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Hi,

In Singapore, there is the Housing Developers (Control & Licensing) Act) that is meant to protect homebuyers.

Developers are required to be license under this act with strict rules and guidelines.

They must also maintain a project account that can only be used for costs related to the project such as property tax to the land, stamp duty and legal fees on a mortgage to secured any construction loan, fees for architects, engineer, quantity surveyor and other consultants and costs for carrying out foundation works, soil investigation, earth works and the provision of site supervision.

You may refer to the full statutes here: https://sso.agc.gov.sg/Act/HDCLA1965

What you should look out for is a no-sale license issued to a developer. Under this condition, the developer can only carry out the construction but not sell the units until the project have achieved the Temporary Occupation Permit (TOP). Developers who are issued with such licence generally have a bad track record in their quality of construction.

You will be protected under the 12-months Defect Liability Period where the developer must make good for any defects at their own costs and expenses. This must be done within 12 months of receiving your Notice of Vacant Possession.

Sincerely,

Mohamad Khalil

Bachelor of Arts (Communications)
E: realtor@khalilrealtor.com
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