Agencies, salespersons unaware of CEA policy

Posted on 27 Jun 2012 | Comments Off on Agencies, salespersons unaware of CEA policy

The writer of the letter “No principle in CEA fee policy” (May 31) has clearly expressed the concern of the real estate industry.

According to the Council for Estate Agencies (CEA) website, the initial licence and registration period of two and three years (from January last year) has been staggered for different estate agents and salespersons.

This is to better facilitate the industry and the CEA administratively in the subsequent renewal for all estate agents and salespersons on a two-year basis.

It is obvious that salespersons and even the majority of estate agencies are unaware of this and that the CEA fee policy is contradictory.

The writer’s question is about why registration fees are subject to repayment, not what they are paid for. The CEA, which replied that “Real estate sellers must meet criteria” (June 12), should not deviate from this.

Most of the estate agencies are also unaware that they, and not the salesperson, are responsible for paying the fee.

They still offer to waive the fee to entice salespersons to join them.

From John Ow

Source : Today – 2012 Jun 25

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New condo launches expected to revive Jurong

Posted on 27 Jun 2012 | Comments Off on New condo launches expected to revive Jurong

A number of new projects are now in the pipeline that will provide residents in the Jurong and Lakeside areas with more housing options.

For more than a year, there was no new condo launched in the vicinity despite a lot of buzz taking place in suburbs across the island. This will change as the whole Jurong Lake District is set to become the biggest commercial hub outside the city centre.

Last month, a residential site in Boon Lay Way closed its tender. The 99-year leasehold land parcel sited near Jurong East MRT station is expected to yield around 600 units.

Meanwhile, a site that could yield some 820 units will be launched later this year near Lakeside MRT station.

By 2017, property consultants expect to see more than 2,000 new private homes within the precinct. The upcoming Caspian and Lakefront Residences, which were launched in 2009 and 2010 respectively, will form part of the bulk.

All 712 units at Frasers Centrepoint’s Caspian have been snapped up. It is expected to be completed by the third quarter of this year.

Likewise, the 629-unit Lakefront Residences by Keppel Land which has been sold out is expected to be ready by 2015.

Alan Cheong, Research Head at Savills Singapore, said that while Jurong is an established town, newer estates such as Sengkang, Pasir Ris and Punggol have overshadowed it in terms of new executive and private condo launches.

Nevertheless, higher prices have been seen in Jurong. In fact, upcoming condos within the area could be priced at between S$1,000 psf and S$1,200 psf compared to projects in the north-east and Pasir Ris, which have recorded prices of between S$850 psf and S$1,000 psf.

“The Jurong Lake District is being engineered into a regional hub… Human density is expected to rise, with increasing population of foreigners probably wanting to rent there as more commercial developments take root,” said Cheong.

Source : PropertyGuru – 2012 Jun 25

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