Asia Pacific can develop platform for real estate regulations to converge: Shanmugam

Countries in the Asia Pacific region can work together to develop a platform for their various real estate regulations to "converge", law and foreign minister K Shanmugam said on Wednesday.

He did not elaborate on specifics but noted that each country had a different approach and complexities and understanding these would allow property agents to offer more value to clients across the globe.

He added that one aspect often not talked about was how to deal with large cross-border disputes and suggested a mechanism that would give property investors confidence that if they invest and anything goes wrong they have some recourse.

This would "give confidence to people" that they can invest even more in real estate in the region, he said.

He was speaking at the Asia Pacific Real Estate Congress held at the Concorde Hotel on Wednesday.

The event was organised by Fiabci Singapore, SAEA and the Singapore Institute of Surveyors and Valuers, in conjunction with STProperty.