Head of Marketing at SPH Elsie Chua which owns some newspapers, said that where advertisements broke the new guidelines, the group would advise advertising clients to alter the advertisements to make them compliant. She added that the new guidelines increase transparency and offer vital information to newspaper readers and she observed that some clients have already implemented the guidelines of their own volition for Kovan Condo.
Upper Serangoon Kovan Condo
Concerns over the rapidly increasing numbers of untruthful adverts have been growing recently. Only last month, ASAS objected to printed advertisements by Funtasy Island Development and Seven Seas FID for the Batam villa project on Funtasy Island. ASAS’s three objections against the advertisements were that they showed landmarks, for example Marina Bay Sands, as being visible from the villa, promised a guaranteed rental return of 7% per years and the ads contained an anonymous upper serangoon buyer’s favourable testimonial.
There were also market rumours that some Iskandar projects began selling properties before obtaining building permits.
The new ASAS guidelines mean that all testimonials or endorsements must represent the average consumer and that ASAS can contact the authors of such endorsements or testimonials to check that they are genuine.
Kovan Asset Legend
The new ASAS guidelines bring the regulations into line with the practice guidelines for ethical advertising on upper serangoon view condo, which the Council for Estate Agencies issued in 2011 and another practice guideline issued in 2014 for estate agents and others advertising overseas properties.
Tan Tee Khoon, executive director at Knight Frank, said that the guidelines felt familiar to estate agents and property salespeople and hailed them as a good move towards responsible advertising, advertising in a way that does not mislead buyers or investors. He added that it may be difficult for property advertisements to meet all of the new ASAS guidelines because advertisements may have to be large and long to explain charges, expenses and tax liability, all of which are contained within the sales/purchase agreement.