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REAL ESTATE FOCUS

Exercise the right to a better life

There are more than 2,000 com¬plaints relating to realestate trans¬actions that are lodged with the Consumer Protection Board (CPB) each year. In 2005, there were 2,399 cases. The following year the board received 2,086 complaints. And last year 2,181 issues were handled.



The types of complaints range from downright frauds, breaches of contracts, nonfulfillment of prom¬ised aftersales services, exaggerat¬ed advertisements, deteriorating environment caused by insufficient maintenance and services, dispos¬al facilities or unnecessary eyesores in the neighbourhoods.

Despite the fact that the number of complaints to the CPB has dropped considerably during the first half of the year to 641, problems remain and often become more complex.

As part of an attempt to promote good practices in realestate deals, the CPB has launched the "Good RealEstate Practitioners" award programme last year. The award seeks to recognise housingproject developers who are consumerminded and comply with rules.

The Department of Alternative Energy Development and Efficiency takes responsibility for promoting energy conservation.

Last month the department announced the "Outstanding Energy Conservation Homes" awards programme. This initiative aims to promote energy saving ideas among architects, engineers, devel¬opers and builders.

The Government Housing Bank is offering mortgages to people who otherwise may not have access to credit because of their economic strata. The bank is also planning to offer lowinterest rates to consumers who buy energysaving homes.

Realestate professionals must place great emphasis on high ethi¬cal standards when dealing with customers.

Developers who knowingly encroach on public land or deceive consumers should face maximum punishment. Engineers and archi¬tects of substandardhousing units should be barred from creating more. Unethical brokers should have their licences permanently cancelled.

The public should monitor such practices and exercise their right to live a better life.


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