Property
How Does Normanton Park’s Former “No-sale License” Matter To Buyers?
By Stacked Homes  •  January 19, 2021
Normanton Park is shaping up to be one of the hot launches of 2021. It’s close to the One-North tech hub, an area where housing options have been few to date; and we won’t be too surprised if investors and home owners are both lining up. But by now, you may also have heard about previous “issues”, and its former no-sale license. Should that matter to buyers at all? Let’s shed some light on the issue, and you can make your own decision: What is a no-sale license? There are two kinds of license a developer can receive, with regard to sales. The first is the typical Sale License; this allows developers to start selling units as soon as the Building Development Plan is approved by URA. The second type of license, which is much rarer, is a no-sale license. This means the developer can start building, but cannot start selling units until after receiving the Temporary Occupancy Permit (TOP)....
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By Stacked Homes
The Stacked Homes editorial began in February 2017 to provide the latest news and analysis on property in Singapore.
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