A few days ago the Urban Redevelopment Authority made amendments to the Housing Developers Control and Licensing Act, unveiling data collection to be more frequent regarding transactions made in the private residential sector and stricter regulations for show flats.
The Vales EC Property Rules
As of the 25th of May 2015, it will be required of housing developers to submit weekly transactions information that is more detailed to the Controller of Housing. These compulsory, more detailed, reports will need to include information such as price transactions and the volume of sales for each individual unit of the developers building projects, as well as any benefits that have been offered to buyers and the value of such offers for The Vales EC.
The new regulations, or Show Unit Rules, will make sure that every show unit a developer provides accurately depicts the units that will be offered for sale to buyers. …