Private home sales in August hit a 11 month high with 1,256 new homes sold excluding executive condominiums in August.

The Urban Redevelopment Authority announced that developers are restricted from reissuing options to purchase to the same buyer of the same unit within 12 months after the expiry of the earlier option to purchase. 

Michelle Martin speaks to Eugene Lim, Key Executive Officer of the ERA Realty Network to discuss the inception of this initiative, what it means for genuine buyers and the implications for developers.