NATIONAL Development Minister Mah Bow Tan is on a three-day working trip to Hong Kong, starting today.
He will meet senior officials from the Transport and Housing Bureau, the Hong Kong Housing Authority, and the Estate Agents Authority, to learn more about their experiences in regulating real estate agents, said the Ministry of National Development in a statement yesterday.
The ministry had announced plans last October to improve the industry’s professionalism, including setting up a new regulatory authority, an accredited industry body and an independent tribunal for dispute resolution.
Complaints against such agents have risen in the past few years in tandem with Singapore’s property boom.
The ministry said yesterday the details of the new framework will be announced within the next few months.
Mr Mah is being accompanied by ministry officials, and will also take the opportunity to update himself on public housing and other developments in Hong Kong, said the ministry.
Source: Straits Times, 30 Mar 2010