Housing is so expensive nowadays! This is what I heard my daddy and so many people complaining these days. My daddy says that because it is no really regulated, so people are selling so much higher than the original price.
People are quoting their flats (some less than 800 sq ft) for close to S$500K, primarily because of expectations. Daddy was saying that Singapore should learn what the in UK, where they have the home information packs or HIP.
This is primarily a set of documents that provide the necessary information about property in UK (England and Wales) that are put up in the open market. With this home information packs, sometimes known as seller's you would get the energy performance certificate, sales statements, local authority searches, title documents and some other important documents.
With these set of documents, one would get a clear over view on what they are buying over. Everything is stated in black and white and do not need to contest after the sales. Like in some cases in Singapore, where the buyer complaining that there are leakages in the flats that they took over.
So, hopefully, Singapore would have their own version of home information packs to smoothen the process of home buying.
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