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23 Sep 2013

Property investment seminars on CEA radar
Authorities urged to act as investors are lured with no-cash outlay claims, fee waivers

Source: Business Times

By: Mindy Tan

Bold claims by property experts of wielding the secret technique of buying homes with no cash outlay or owning multiple properties have proliferated in recent months, as investors look for ways to circumvent the successive rounds of cooling measures.

This has inevitably raised alarm bells in some quarters.

"There is a need for the authorities to regulate the content and claims by these speakers," said PropNex Realty chief executive Mohamed Ismail. "When the industry is moving towards professionalism and consumer protection, allowing such unregulated claims may be damaging to the industry and not in the interests of the public.

"This is especially with the implementation of cooling measures and the Total Debt Servicing Ratio (TDSR), with more Singaporeans looking at foreign properties to invest in," he said