Consumer Group Warns On Overseas Property

The Consumers Association of Singapore (CASE) has issued a warning to Singaporeans on acquiring foreign property investments.

Singaporean investors are among the top overseas property purchasers from Asia.

CASE commented that it had received more than a dozen complaints from consumers regarding their foreign property purchases in the period spanning 2013 and 2014.

The majority of the grievances came from purchasers who had invested in foreign properties promising high guaranteed yields or elevated capital gains but later found they were unable to get back those promised returns.

The consumer group highlighted the recent growth of adverts featuring overseas real estate investment opportunities making unsubstantiated positive claims. They recommended such advertising be subject to the same stringent standards that local developers must legally adhere to.

WEB'S BEST

Top stories from across the globe

  • Singapore Stresses Under a Wealth of Worries
  • A Short History of Investing in Gold – and What to Expect for 2017
  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
More

PHOTO GALLERIES

finews.asia Networking Event

finews.asia Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.