Real Estate

Contracts between Housing Developers and Buyers Added to Scope of COVID-19 Temporary Relief

On 13 May 2020, the Government announced amendments to the COVID-19 (Temporary Measures) Act and the COVID-19 (Temporary Measures) (Temporary Relief for Inability to Perform Contracts) Regulations 2020 (collectively, "Updated Regulations"). The new amendments allow property purchasers of a unit in a housing accommodation from housing developers to obtain temporary relief for their inability to perform their obligations under:

• an option given by a housing developer to an intending property purchaser, and/or

• a sale and purchase agreement between a housing developer and a property purchaser

This Update highlights the key features and implications of the Updated Regulations.