Real estate industry changes have only just started: Khaw

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SINGAPORE - National Development Minister Khaw Boon Wan has said in a blog post that the transformation of the real estate industry has only just begun.

He said what used to be regarded as a "cowboy" industry is now characterised by a more systematic and professional process of proper registration and licensing of property agents by the Council of Estate Agencies (CEA), adding that of the more than 100,000 property transactions each year, complaints made up 1 per cent of the cases.

He also said the findings showed that the regulatory body, that just turned two recently, has not fared too badly, and that the real estate industry is a dynamic one and that agents will need to embrace continuous learning to stay relevant and bring value to their clients.

Mr Khaw was commenting on the Public Perception Survey released by the CEA. CHANNEL NEWSASIA

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