Daily Archives: 30 Oct 2009

BCA giving Green Mark awards for cluster devts

Posted on 30 Oct 2009 | Comments Off on BCA giving Green Mark awards for cluster devts

THE Building and Construction Authority (BCA) has added another category to its Green Mark certification – it is now giving Green Mark awards for cluster developments.

The first two projects certified under the new BCA Green Mark for Districts scheme – Resorts World Sentosa and NUS University Town – have been lauded for maximising sustainability by integrating green concepts into their master planning and building design.

NUS University Town and Resorts World Sentosa have achieved the second-highest Green Mark rating of GoldPlus.

Resorts World Sentosa will feature Singapore’s largest solar power installation, capable of generating more than 500,000 kWh of energy a year – equivalent to the power consumption of 108 typical four-room flats. Other green features include an eco-lagoon and underground tanks to collect and store stormwater to irrigate landscaped areas.

NUS University Town, being built on rolling terrain with lush natural greenery, was lauded for adopting sustainable design principles that preserve the existing habitat. Continue reading →

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Property agents’ 2+2 commission formula is wrong

Posted on 30 Oct 2009 | Comments Off on Property agents’ 2+2 commission formula is wrong

WHY do some property agents insist on a commission of 2 per cent from the seller and 2 per cent from the buyer, and accuse others who accept less of undercutting?

Till today, most agents will tell you it is standard. However, that 2+2 formula was when HDB flats changed hands at well below $50,000. It was to compensate agents for losses compared to private properties, which was then 2 per cent from the seller only, as they did about the same amount of work.

Incidentally, the cheapest private properties in Serangoon Gardens went for about $300,000. See the gap?

In the past 10 years, HDB prices have risen but some agents still demand 2+2 commission from unsuspecting buyers and sellers. From my observations, most who pay 2+2 commissions are illiterate HDB flat owners. The more educated ones pay only 1 per cent. I have paid less.

Lim Teck Seng

Source : Straits Times – 30 Oct 2009

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